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2007 expropriations

The expropriation of foreign oil projects in Venezuela in 2007, led by President Hugo Chávez, resulting in international arbitration awards and claims for compensation.

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Jan 10, 2026

How did Hugo Chávez’s 2007 nationalization affect U.S. oil company assets and arbitration outcomes?

Hugo Chávez’s 2007 nationalization consolidated state control over oil projects in the Orinoco belt and forced foreign firms, including U.S. majors, to cede operational control to PDVSA, prompting exi...

Jan 9, 2026

Which foreign oil companies had assets nationalized by Venezuela and in what years did nationalizations occur?

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 ...