|ANALYZING OUTCOME OF ARBITRATION OF PDVSA IN FOREIGN COUNTRIES|
Aruba, January 5, 2012 - The two main trials faced by PDVSA, (Venezuelan state-owned oil company), in international courts for the nationalization of assets of Exxon Mobil and ConocoPhilips will finalize this year. The decisions could affect not only the finances of the Venezuelan oil industry, but may also cause a positive or negative political impact, depending on the final outcome.
International arbitrations that Venezuela has pending with large foreign oil companies like those mentioned - after a strong wave of nationalizations - are approaching a period of definition in 2012 that could make a fortune or misfortune of the re-election of President Hugo Chavez.
The legal opinions on the possible outcomes are diverse, as analysts weigh in on the financial burden which may affect the government, while being in urgent need of resources to fund a crucial re-election and boost a political triumph for Chavez.