- A World Bank arbitration tribunal should rule by Q2 2016 on Venezuela's bid to annul a $1.6B compensation award to Exxon Mobil (XOM -0.3%) for nationalizations, the country's attorney general's office says.
- The cases date from former president Chavez's 14-year rule when he nationalized various oil ventures, including the XOM-operated Cerro Negro and La Ceiba projects.
- Earlier this week, the World Bank's International Centre for Settlement of Investment Disputes rejected a separate Venezuelan request for a review of the award.