On March 10, 2014, the ICSID Arbitral Tribunal (the Tribunal) rejected Venezuela's request for reconsideration of the Tribunal’s September 2013 Decision. In the September Decision, the Tribunal found, first, that it had jurisdiction over the dispute regarding Venezuela’s taking of ConocoPhillips oil assets located in the country and, second, that Venezuela had breached its obligations under Article 6(c) of the BIT "to negotiate in good faith for compensation for its taking of the ConocoPhillips assets. . . ." (See previous ILIB post here.) Finding that it did not have the power to reconsider this Decision, the Tribunal held that, although the quantum stage of the proceedings remains to be heard before a final Award can be made, the September Decision does not “take an interim or preliminary form in respect of the matters on which it rules,” and “[i]t is established as a matter of principle and practice that such decisions that resolve points in dispute between the Parties have res judicata effect.” The Tribunal has not yet fixed a date for a hearing on quantum.