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Financial concept
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...
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...
Two major international arbitration awards tied directly to Venezuela’s oil expropriations stand out: an ICSID award of roughly $8.7 billion to ConocoPhillips upheld after Venezuela’s annulment attemp...
Major active investors in Venezuelan mining and processing projects include the Canadian miner Gold Reserve through the Siembra Minera joint venture with the Venezuelan state (55% Gold Reserve, 45% go...
A wave of nationalisations and regulatory measures under Hugo Chávez and his successors spawned a large slate of investor-state disputes against Venezuela after 1999, with prominent claimants includin...
ConocoPhillips’ multi‑billion dollar arbitration victories sit at the center of recent enforcement drives: the company has registered and sought to execute awards against Venezuela in multiple jurisdi...
Since 2000 multiple U.S. and foreign-based companies with U.S. ties have pursued arbitration and U.S. court actions to recover assets expropriated by Venezuela after nationalizations that accelerated ...
International arbitration awards against Venezuela can be enforced through treaty-based mechanisms (ICSID), the New York Convention in national courts, and domestic assistance to arbitral tribunals, b...
An array of international arbitral tribunals — principally panels at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) and various commercial tribunals — have issued ...
Venezuela has engaged with mining companies and created joint ventures since 2016, but reporting and public records in the provided sources do not show clear, documented cash settlements or completed ...
Siembra Minera is a mixed company created in 2016 to develop the Siembra Minera project and is owned roughly 55% by a Venezuelan state corporation and 45% by Gold Reserve, a Canada-listed miner, but t...
A cluster of large investor-state and commercial arbitral awards against Venezuela remains effectively unpaid, the largest and most consequential being ConocoPhillips’ multi‑billion‑dollar ICSID and I...
International arbitration from the Chávez era produced notable non-oil awards—most prominently a US$740 million ICSID award for Canadian miner Gold Reserve over the Brisas/Unicornio mines—alongside ot...
International investment law treats expropriation through a body of doctrines that distinguish lawful sovereign takings from unlawful ones, balance a State’s sovereign “police powers” against investor...
Venezuela’s nationalizations of oil (2007 wave) and gold/mining (notably 2008–2011) triggered scores of international arbitration claims and multi‑billion‑dollar awards: ConocoPhillips won awards that...