Your fact-checks will appear here
American multinational oil and gas corporation
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 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 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...
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...
A definitive, source-backed roster of every Gulf Coast refinery that can process Venezuela’s heavy Merey and Hamaca blends does not exist in the provided reporting, but the evidence points to a core g...
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...
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...
Hugo Chávez moved Venezuela away from the 1990s “apertura” model toward state-dominated control by forcefully renegotiating contracts and legally requiring PDVSA-majority stakes in oil projects, effec...
ConocoPhillips won multiple arbitration awards totalling roughly $10–11 billion when interest is included: an ICSID award of about US$8.7 billion plus US$20.4 million in costs (later described in repo...
U.S. oil companies have won multiple multibillion‑ and multimillion‑dollar arbitration awards against Venezuela arising from the 2007 nationalizations, led most prominently by ConocoPhillips’ ICSID aw...
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...