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President Trump publicly accused Venezuela of having “stolen” U.S. oil, land and other assets and ordered a “total and complete” blockade of sanctioned oil tankers; U.S. authorities have seized at lea...
Major international oil companies, most notably ConocoPhillips and others operating joint ventures in 2007, had large stakes in Venezuelan projects — including Petrozuata, Hamaca and Corocoro — that C...
Hugo Chávez’s mid-2000s reassertion of state control over Venezuela’s oil sector and Nicolás Maduro’s continuation of that policy led to the effective loss or forced reduction of foreign companies’ op...
U.S. oil companies have repeatedly filed claims and won international arbitration awards against Venezuela for past expropriations and lost investments, but those legal victories have not translated i...
Venezuela under Hugo Chávez (1999–2013) and Nicolás Maduro (2013–present) expropriated or seized foreign oil assets including major stakes held by US-based ConocoPhillips in Petrozuata, Hamaca and Cor...
Venezuela was ordered by international tribunals to pay at least two major awards tied to 2007 expropriations: roughly $8.7 billion to ConocoPhillips (ICSID/ICC rulings and later enforcement actions) ...
Yes — Venezuela has nationalized its oil industry in multiple waves and directly expropriated assets operated by U.S. firms, from the wholesale state takeover in the 1970s to targeted seizures under H...
Hugo Chávez led large, formal nationalizations across oil, banking, steel, cement, fertilizer and large tracts of agricultural and urban land—culminating in state operational control of the Orinoco oi...
Hugo Chávez’s mid-2000s nationalizations transferred operational control of many foreign-run oil projects to PDVSA and the Venezuelan state, producing a patchwork of outcomes: some firms took negotiat...
Venezuela’s wave of oil-sector nationalizations (notably under Hugo Chávez and later actions) produced multiple international arbitration claims and some awards: ExxonMobil won an ICSID ruling requiri...
The 2007 Venezuelan oil expropriations were a state campaign under President Hugo Chávez to convert foreign-operated oil projects into majority state-controlled ventures — a demand that led Caracas to...
Arbitral and court rulings stemming from Venezuela’s 2007 re-assertion of state control over oil projects have produced a mixed legal picture: international tribunals and settlements have found that V...
The core legal disputes between the United States and Venezuela over oil and other resources center on historical nationalizations and investor arbitration, U.S. sanctions and maritime interdictions o...
Venezuela has faced multiple arbitration claims by foreign oil firms after nationalizations and contract changes; two widely reported awards are ExxonMobil’s ~$1.6 billion ICSID award and ConocoPhilli...
Hugo Chávez’s government seized or nationalized foreign oil assets in multiple waves, most prominently in 2007 when it reasserted state control over Orinoco heavy‑oil projects operated by major intern...
ConocoPhillips and ExxonMobil were the principal U.S. oil companies that pursued international compensation after Venezuela’s 2007 nationalizations; both secured arbitration awards but with markedly d...
Multiple international tribunals have found that Venezuela’s 2007 nationalizations of foreign oil investments violated treaty or contractual obligations, and claimants have pursued a mix of arbitral a...
There is no authoritative record that Venezuela "stole" property belonging to the United States as a sovereign act; instead the clearest, documented confrontations over property involve Venezuela’s 20...
Venezuela’s 2000s-era nationalizations of oil and mining assets spawned a cascade of international arbitrations, producing multi‑billion‑dollar awards, mixed rulings on legality versus compensation, a...
Venezuela has been ordered to pay large arbitration awards to multiple foreign firms for past seizures — notably ConocoPhillips (~$8–$10.7 billion total awards under different cases) and Rusoro (~$1.2...