Venezuela and ExxonMobil are feuding over the 2007 nationalization of a pipeline . A case is pending before a World Bank global arbitration panel . ExxonMobil has argued that PdVSA breached obligations under an investment treaty . President Hugo Chavez said ` ` do not recognize any decisions '' of the panel . This time a Paris - based body said Venezuela owes Exxon $ 907 million .
Venezuela and ExxonMobil are feuding over the 2007 nationalization of a pipeline . A case is pending before a World Bank global arbitration panel . President Hugo Chavez said ` ` do not recognize any decisions '' of the panel . This time a Paris - based body said Venezuela owes Exxon $ 907 million .