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Exxon awarded $908m over Venezuela dispute

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arikara Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-02-12 12:40 PM
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Exxon awarded $908m over Venezuela dispute
Source: aljazeera

An international arbitration body has awarded US oil firm Exxon Mobil nearly $908m in a dispute with Venezuela over compensation for the nationalisation of its assets, the company says.

Exxon requested arbitration after President Hugo Chavez's government nationalised an oil project in the country in 2007.

The company had sought as much as $10bn in compensation for its heavy crude upgrading project in the Orinoco Belt, which was nationalised along with three others.

The award is less than the $1bn Venezuela offered in compensation in September.


Read more: http://www.aljazeera.com/news/americas/2012/01/20121242...



rofl
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-02-12 08:24 PM
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1. A little less than offered in September. Wish it had been a lot less.
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rpannier Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-02-12 10:39 PM
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2. Yep
908m less
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AnotherDreamWeaver Donating Member (917 posts) Send PM | Profile | Ignore Tue Jan-03-12 01:23 AM
Response to Reply #2
3. Isn't it 92million less? They get the 908million....
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rpannier Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-03-12 07:27 AM
Response to Reply #3
4. No
I mean I'd have given Exxon 902 million less than what they got = Zero
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classysassy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-04-12 10:02 PM
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5. Will Chavez pay?
If he refuse to pay will we send in the troops?
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arikara Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-05-12 03:35 PM
Response to Reply #5
6. He probably will
he offered them a billion and they took him to court and subsequently got less. Sometimes there is justice.
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