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Venezuela Never Paid Back Debt Owed to ExxonMobil and ConocoPhillips
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Venezuela Never Paid Back Debt Owed to ExxonMobil and ConocoPhillips
In the world of global energy politics, few stories highlight the tensions between resource nationalism and international investment as starkly as Venezuela’s ongoing disputes with U.S. oil giants ExxonMobil and ConocoPhillips. Stemming from the 2007 nationalization of oil projects under President Hugo Chávez, these conflicts have resulted in billions of dollars in unpaid arbitration awards. As of December 2025, with the Trump administration ram…
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