Mobil Corporation, Venezuela Holdings, B.V., Mobil Cerro Negro Holding, Ltd., Mobil Venezolana de Petróleos Holdings, Inc., Mobil Cerro Negro, Ltd., and Mobil Venezolana de Petróleos, Inc. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/07/27, Decision on Revision (June 15, 2015)
1.1. On 23 October 2014, the Bolivarian Republic of Venezuela (“Applicant”) submitted to the Secretary-General of ICSID an Application for Revision of the Arbitral Tribunal’s Award of 9 October 2014 (“Application”). The Application was made on the basis of Article 51 of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the “ICSID Convention”) and Rule 50 of the ICSID Rules of Procedure for Arbitration Proceedings (“Arbitration Rules”).
1.2. On 24 October 2014, the Application was registered by ICSID pursuant to ICSID Arbitration Rule 50(2)(a) and transmitted to Venezuela Holdings, B.V., Mobil Cerro Negro Holding, Ltd., Mobil Venezolana de Petróleos Holdings, Inc., Mobil Cerro Negro, Ltd. and Mobil Venezolana de Petróleos, Inc. (“Respondents” or “Mobil Parties”) and to each Member of the Tribunal pursuant to ICSID Arbitration Rules 50(2)(c) and 51(1)(a).
1.3. The Tribunal was reconstituted on 30 October 2014, in accordance with ICSID Arbitration Rule 51(2).