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Issue Date: Jan 31, 2012
The New Year may not have started cheerily for the claims brigade. An international arbitration panel awarded US oil giant Exxon Mobil Corp just $908 million in compensation for Venezuela’s nationalisation of its assets in 2007, less than 10 per cent of what the behemoth had reportedly sought. It was presumed that Venezuela’s feisty president Hugo Chavez, known for his America-baiting, would be celebrating.
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