A recent decision by a World Bank-affiliated arbitration panel gives ExxonMobil (XOM) a leg up...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

A recent decision by a World Bank-affiliated arbitration panel gives ExxonMobil (XOM) a leg up in its efforts to extract compensation from Venezuela, despite Hugo Chavez's sabre-rattling. The ruling allows XOM to move ahead with its claim to be paid for oil-producing assets, estimated to be worth billions of dollars, and bodes well for other firms pursuing similar claims.