Caracas, October 9 AVN.- The Foreign Minister, Rafael Ramirez, said Thursday that the national government held for seven years of litigation against Exxon Mobil, the strong defense of the nationalization of the Orinoco Oil Belt, which served policy implemented by Commander Hugo Chavez to ensure sovereignty over national resources. Thus, Venezuela defeated the world's biggest transnational.

"Today has culminated this litigation against Exxon Mobil, the most emblematic of American imperialism transnational, the world's largest transnational has been defeated by our Republic (...) The important thing for us is that all bodies recognize the legality of the actions of nationalization, recognizes the good faith that always showed the Republic to recognize the assets that were subject to nationalization. "he said Ramírez after reading the statement of the International Centre for Settlement of Investment Disputes (ICSID) , which ruled in favor of Venezuela in the case to state Petroleos de Venezuela (PDVSA) had against Exxon Mobil.

"Culminates a long process in which our country, our Republic, our national oil company Petroleos de Venezuela, have defended, in all international forums, the sovereign management of our oil resources, we have defended the decision that historically took the commander Chavez in 2007, to nationalize the Orinoco Oil Belt, "he said.

Product of the opinion of the ICSID, the compensation that the federal government should pay compensation for the nationalization of oil projects is paying $ 1,600 million, instead of the 12,000 million dollars demanded in compensation for the Cerro Black projects and La Ceiba, located in the Orinoco Oil Belt.

According to the judgment of the international arbitrator, 1,411 million dollars are for the payment for the nationalization of the Cerro Black field; 179, 3 million for the nationalization of the project La Ceiba and 9 million by production cuts and exports between 2006 and 2007.

Ramirez said Venezuela's victory is also a victory for oil exporters. "It is an example, is an encouragement to producing nations that insist on full and sovereign exercise of our natural resources," he said.

He also reiterated the purpose of the national government to maintain full sovereignty in managing internal affairs. "The Republic occupies very firmly and great dignity their sovereign decision in the management of all our affairs, not only in the oil, because we are independent. Sovereignty will defend to the bitter end," he said.

"Today ends one more battle in defense of sovereignty, the rights of our people. This oil is the great lever to achieve building a freer more just society.'ve Had great success with humility will say, "he added.

In this regard, he recalled that during the oil opening of the Fourth Republic transnational companies, especially Exxon Mobil, held power over the Orinoco Oil, an action that was reversed with the sovereign policy of the revolution, by which it has guaranteed that oil resources reach the people with social investment.

"The commander Chávez began developing the policy of full oil sovereignty exerts action nationalization, on largest reserves of oil in the world, ie on the Orinoco Oil Belt.'s The concentration of the world's largest oil and fundamental to the development of our country, "he stressed.

He also congratulated the oil workers, institutions, the Venezuelan people and the legal political committee, charged with the defense of Venezuela for "firmness, for his determination to remain united in defense of our interests".

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