The government of Venezuela declared victory following a ruling by an international court regarding Exxon Mobil claims on the country’s offshore oil. The International Center for Settlement of Investment Disputes, which receives funding from the World Bank, ruled Venezuela must pay Exxon Mobil $1.6 billion for taking over assets in 2007. That’s far less than the $16.6 billion Exxon wanted, giving the government in Caracas a claim to victory. “Once again, Venezuela, its government, institutions and workers have confronted and [have] been able to defeat the aggressions of the powerful transnational interests,” a statement published Thursday read. The court, in its 138-page ruling , said the compensation is owed “for the expropriation of [Exxon Mobil’s] investments in the Cerro Negro project [in the Orinoco belt].” Former Venezuelan President Hugo Chavez moved […]