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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...
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...
Available reporting does not provide a single, authoritative cumulative dollar figure for all assets Venezuela has seized or nationalized since Hugo Chávez took office in 1999; instead, contemporary a...
Standard Oil was broken up by the U.S. Supreme Court in 1911 into more than 30 successor companies; many of those pieces grew, merged, and re‑merged into today’s biggest oil firms, including ExxonMobi...
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...
Yes — long before Nicolás Maduro’s rule, U.S. oil companies were heavily invested in Venezuela: American majors dominated early 20th‑century development, suffered large‑scale expropriations at nationa...
A cluster of high‑profile international awards and compensation claims against Venezuela remained effectively unresolved through 2025, most notably multi‑billion‑dollar investor‑state arbitration awar...
ExxonMobil and ConocoPhillips are the highest-profile foreign claimants that have pursued treaty-based ICSID or bilateral‑treaty claims against Venezuela, and more recent filings by companies such as ...
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 ...
Venezuela carried out a wholesale nationalization of its oil industry effective 1 January 1976, converting foreign concessionaires into state-controlled affiliates under PDVSA and replacing operators ...
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...
Major fossil-fuel firms coordinated a multi-pronged campaign in the 1980s and 1990s that shifted from internal science to public doubt: they formed industry coalitions like the Global Climate Coalitio...