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International organization
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) ...
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...
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...
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...
ConocoPhillips’ long-running dispute with Venezuela stems from the 2007 nationalisation of three oil projects and has produced multiple arbitration wins for the company—ICC and ICSID awards totaling b...
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...
Three high-profile losses tied to Venezuela’s resource nationalizations stand out in recent reporting: Canadian juniors Rusoro and Crystallex had gold assets seized in 2011 and subsequently won multi‑...
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...
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 ...
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...
Multiple large arbitration and court claims arose from Hugo Chávez’s 2007–2010 oil nationalizations: ConocoPhillips won roughly $8.7 billion at ICSID (later subject to annulment attempts and enforceme...
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...
ConocoPhillips won a multibillion-dollar arbitration that culminated in an ICSID/World Bank award requiring Venezuela to pay roughly $8.7 billion for 2007 expropriations — a decision the state unsucce...
Venezuela moved from concession-based private oil operations to state control through a legal process codified by the Organic Law Reserving the Hydrocarbons Industry and Trade (the 1975 nationalizatio...
Venezuela has faced a string of international arbitration awards and settlements for expropriating foreign-owned oil, mining and industrial assets—most prominently ConocoPhillips’ roughly $8.5–8.7 bil...
Venezuela has mounted both legal and political resistance to foreign arbitration awards from ConocoPhillips and ExxonMobil, exhausting multiple annulment and appeal routes while publicly rejecting the...
International arbitral tribunals — principally ICSID panels and parallel bilateral‑investment‑treaty tribunals — have repeatedly found that Venezuela owes substantial compensation for the 2007‑era exp...
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...