Latest development Jun 30, 2026
The D.D.C. stayed the case to allow Venezuela to appoint new counsel.
The award
- Amount awarded
- 2014: about $1.6B, partly annulled in 2017 (about $188M stood). 2023: $984.5M gross, or $76.9M net of the ICC credit.
- Award holder
- Venezuela Holdings B.V., Mobil Cerro Negro and affiliates (ExxonMobil)
- Respondent
- Bolivarian Republic of Venezuela
- Forum
- ICSID ARB/07/27 (and resubmission)
Challenges
Partly annulled on March 9, 2017. The resubmission award followed on July 10, 2023.
Enforcement
United States: D.D.C. judgment on September 26, 2025, summarily affirmed by the D.C. Circuit on April 7, 2026. On June 30, 2026, the court stayed the case for 30 days so that Venezuela could appoint counsel. Not in the Citgo queue.
Recovered to date
$907.5M on a 2011 ICC award against PDVSA (paid)
Notes
The headline is an estimate of the unpaid ICSID balance (not verified).