Implications Of Exxon Mobil V. Venezuela

Law360, New York (July 19, 2010, 11:09 AM EDT) -- Three years after Venezuela nationalized Exxon Mobil Corp.’s interests in two projects in the Orinoco River basin, Exxon Mobil has won a major fight in the oil giant’s battle to recoup billions of dollars for the loss of those projects. The decision could signal good news for hundreds of other similar pending cases with tens of billions of dollars at stake.

Contrary to earlier reports from Venezuela, three arbitrators acting under international treaty law held that they have jurisdiction to hear claims by Exxon Mobil’s Dutch...
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