Olje selskap erfarte dette i Venezuela.
Foreign operators were forced into minority positions alongside Venezuela’s national oil company, PDVSA, or saw assets seized outright. Major U.S. firms, including ExxonMobil and ConocoPhillips, ultimately exited the country and pursued international arbitration over uncompensated takings.International tribunals later awarded billions of dollars in compensation to foreign companies—awards Venezuela has largely failed to satisfy. This period marks the origin of the “stolen oil” language now resurfacing in U.S. political messaging.
53Venezuela, Maduro And The Long Shadow Of Oil Expropriation