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Exxon Gets ’Disappointing’ $750 Million After Venezuela Seizure

Petroleos de Venezuela SA must pay about $750 million to Exxon Mobil Corp., a 10th of what the U.S. company is seeking, for assets nationalized by Venezuelan President Hugo Chavez in 2007, according to two people with knowledge of the case.

The International Chamber of Commerce in New York, an arbitration court, gave a “favorable” ruling to Venezuela’s state oil company, a spokesman for PDVSA, as the Caracas-based company is known, said yesterday.