""The Republic always pays something for nationalizations, we never said we'd pay nothing. We are ready for the (rulings) to be this year," the minister said in an interview for the Reuters Latin American Investment Summit."

"The multinationals' aspirations are a very long way from what we expect the result to be. We estimate the number will be much less than $2.5 billion between the two cases, if we arrive at that we will consider it a success," he said."

"Analysts have said PDVSA might have to sell overseas holdings to pay court-ordered compensation. The company has cash-flow problems despite soaring oil prices because it passes most of its income to central government."

"The World Bank's compensation court held the main hearing in the Conoco case in June and has made a preliminary ruling in the Exxon Mobil case that limited the company's claim."