WASHINGTON—A World Bank arbitration panel has determined that Venezuela won’t have to pay $1.4 billion to Exxon Mobil Corp. for confiscating company assets during a wave of nationalizations. Exxon Mobil asked the bank’s investment-dispute panel for $16.6 billion for the seizure of its Cerro Negro facilities in the Orinoco Belt under then-President Hugo Chávez. Mr. Chávez took over scores of companies to secure greater control over...

Source: Wall Street Journal March 11, 2017 00:00 UTC