Venezuela Exxon will pay only 255 million dollars of compensation for the nationalization of assets
Venezuelan PDVSA said it would pay the U.S. oil giant Exxon Mobil compensation for the nationalization of assets in 2007 amounting to only 255 million dollars, while Exxon reported that the tribunal made the decision to pay 908 million dollars.
As reported by the Venezuelan company, payment will be made within 60 days of taking into account the debt of Exxon and other factors. In particular, the statement said PDVSA, 191 million dollars of debt before the Exxon Venezuelan company that is associated with the financing of the project Cerro Negro. Venezuelan concern also notes that the $ 300 million had been frozen in accounts in the U.S. PDVSA at the request of Exxon after the nationalization of the assets of Hugo Chavez in 2007, another $ 160 million accounted for in the counterclaim of the company to Exxon.
After the arrival of Hugo Chavez to power in 1999, was nationalized the oil industry of Venezuela. In 2007, Chavez forced foreign oil companies enter into joint ventures as minority partners. Exxon Mobil abandoned the revised terms and appealed to international arbitration. As noted by PDVSA, Exxon initially demanded compensation of $ 12 billion, the Venezuelan company called "clearly exaggerated, and outside of all logic" sum.
Resolution of the amount of compensation in 908 million dollars received arbitration International Chamber of Commerce. A decision on the claim of Exxon to the Venezuelan authorities also have to endure the International Centre for Settlement of Investment Disputes (International Centre for Settlement of Investment Disputes, ICSID).
Earlier, Attorney General of Venezuela, Carlos Eskarra stated that compensation will be oriented country it is the decision of ICSID.
In the course of litigation, the Venezuelan government offered compensation in the Exxon billion dollars, but the company did not agree with such a sum.
Total Venezuela is involved in about 20 proceedings relating to nationalization. Disputes with Exxon and other U.S. oil company ConocoPhillips on projects for the development of heavy oil in the Orinoco River basin is the most ambitious.
U.S. exchanges have opened trading in the "green zone"
U.S. stock indexes opened the bidding last week against the background of weak growth was better than expected statistics on orders for durable goods, according to the auction.
In the first minutes of trading, the Dow Jones grew by 0.34% and amounted to 12 211.05 points. Broad market index S & P 500 added 0.31% to 1257.85 points. The high-tech Nasdaq rose 0.32% - up to 2607.24 points.
According to the Census Bureau U.S. Department of Commerce, orders for durable goods in the U.S. in November 2011 increased compared with October at 3.8% or 7.5 billion dollars - up to 207 billion dollars. The data were significantly better than analysts' forecasts, which had expected growth rate of only 2%.
Meanwhile, inhibit the growth indices weak growth data of expenditure and income of consumers. U.S. consumer spending rose in November compared with October at 13.1 billion dollars, or 0.1%, while income grew by 8.5 billion dollars, or as 0.1%. The published data differed from forecasts of analysts who had expected spending growth by 0.3% of income - 0.4%
The web's largest registrar of boycott
Internet users are urged to boycott the world's largest domain name registrar GoDaddy support for anti-piracy law SOPA (Stop Online Piracy Act), under consideration in Congress. Message with a call to move to other recorders and relevant instructions issued by a specially created website.
December 21 at the site GoDaddy account was published, explaining the company's relationship to the bill. It is reported that the registrar is not only supports the SOPA, but also actively participates in its development.
In response, the resource user Reddit selfprodigy wrote that he intends to withdraw from all your GoDaddy domains. He urged other members to support the action and called on December 29, migration to registrars that do not support the bill.
During the first 17 hours since the inception of the note to her left more than 2,800 comments. In addition, written about the campaign and media profile tehnoblog, including Mashable, The Next Web, Gizmodo and Wired. A company executive Cheezburger, which owns a number of comic resources, wrote that she will move with GoDaddy thousands of their domains.
Soon, some Internet registrars reported selfprodigy, that they oppose the SOPA and offered users switching from GoDaddy, discounts on their services.
If the bill is adopted, holders will be able to pre-trial demand from Internet companies, for example, payment systems and providers to refuse to cooperate with the offending site. Since most of the major players in the market is located in the jurisdiction of the United States, some experts fear that the way the U.S. government will have a tool to censor the web.
Several companies, for example, Warner Music Group and L'Oreal, supported by SOPA (list of supported here). At the same time, Google, Facebook, Twitter and other Internet companies (a list of enemies can be found here) opposed the bill. A founder of the "Wikipedia" Jimmy Wales proposed to suspend the online encyclopedia as a protest.
Domain name registrar GoDaddy was founded in 1997 and today is the largest in the world. According to the company, it serves 50 million domain names.
