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Hugo Chávez and his successor Nicolás Maduro oversaw waves of state takeovers and tighter state control over oil and mining assets, notably asserting majority or full state stakes in Orinoco heavy-oil...
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...
Venezuela’s nationalizations over decades swept up not only U.S. oil majors but a broad array of foreign (non‑U.S.) firms — European and regional partners in joint ventures — and several of those comp...
Hugo Chávez’s drive to assert state control over Venezuela’s oil translated, by the mid-2000s, into the takeover or forced relinquishment of foreign-operated projects — most prominently assets run by ...
Venezuela has paid varying amounts of compensation to owners of nationalized assets: some firms received multi‑hundred‑million to billion‑dollar settlements (Exxon – originally $1.6bn award later redu...
Venezuela’s 2007 hydrocarbon nationalizations led to high-profile seizures of assets from several foreign oil firms — most notably ConocoPhillips and ExxonMobil — triggering multiple international arb...
Hugo Chávez’s mid‑2000s campaign to reassert state control over Venezuela’s oil sector culminated in 2007 orders that converted foreign-operated heavy‑oil projects—especially in the Orinoco Belt—into ...
KoBold Metals has publicly disclosed a long list of institutional investors and prominent venture backers across multiple press reports and funding announcements—most notably Durable Capital Partners,...
Venezuela’s 2007 nationalizations spawned a string of international arbitration awards—most notably ConocoPhillips’ multi-billion dollar wins and ExxonMobil’s mixed ICC/ICSID results—but the bulk of t...
ConocoPhillips and ExxonMobil both obtained international arbitration awards after Venezuela’s 2007-2010-era seizures of assets and have pursued collection primarily through international arbitration ...
Norway’s oil revenues transformed a mid‑20th‑century social‑democratic model by providing large, sustained fiscal resources that financed expanded welfare, state ownership in energy, and the creation ...
In 2007 the Venezuelan government moved to take operational control of major foreign-run heavy‑oil projects in the Orinoco Belt, most notably seizing ExxonMobil’s Cerro Negro and La Ceiba projects and...
Venezuela nationalized its oil industry in two major waves: a broad, legal nationalization that created state oil company PDVSA on January 1, 1976, and a later campaign under President Hugo Chávez in ...
Chevron and a number of European oil majors agreed after the 2007–2010 restructurings to remain in Venezuela as minority partners in state-dominated joint ventures with PDVSA rather than face full exp...
International tribunals issued multiple multi‑billion‑dollar awards to foreign oil companies over Venezuela’s 2007 nationalizations — most notably ConocoPhillips’ more‑than‑$8 billion World Bank award...
Hugo Chávez’s government systematically placed Venezuela’s hydrocarbon sector under state control through laws, decrees and forced restructurings from 1999 onward, converting foreign-operated projects...
The three Orinoco Belt joint ventures—Petropiar, Petrocedeño and Petromonagas—were formed as PDVSA-led partnerships that shifted in legal status and ownership as Hugo Chávez’s government reasserted co...
Four major international oil companies—Chevron, Total (TotalFinaElf/TotalEnergies), BP, and Statoil (now Equinor)—participated in a patchwork of joint ventures across Venezuela’s Orinoco Heavy Oil Bel...
Between 2006 and 2007 the Venezuelan government forced foreign-operated Orinoco Belt projects to convert into majority-state mixed companies (empresas mixtas) with PDVSA holding at least 60 percent, c...
Venezuela’s oil nationalizations unfolded in two major phases: the sweeping state takeover of concessions in 1976 that created PDVSA and absorbed the concessionaires that had operated fields across La...