Venezuela Pays Exxon $250 Million to Settle Arbitration Case
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Petroleos de Venezuela SA, the state oil company, said it paid Exxon Mobil Corp. $250.9 million for assets seized in the country in 2007.
The payment settles a $750 million net judgement issued by the New York-based International Chamber of Commerce last year, PDVSA, as the Caracas-based company is known, said yesterday.