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ElwoodBlues · M
Venezuela nationalized oil fields in 1976, and paid partial compensation over the decades. Yeah, we a war right now over oil company compensation disputes from 1976!!!
AI (always iffy) overview
AI (always iffy) overview
Who Got What (Examples):
ExxonMobil: Sought billions, ended up with a 2012 ruling for $255 million from an ICC case and a later $1.6 billion ICSID award (later annulled).
ConocoPhillips: Received large awards from World Bank tribunals, totaling billions, though enforcement and payment were challenging.
Total, Chevron, Statoil, BP: Agreed to give PDVSA majority control and remained as minority partners, avoiding full expropriation.
Williams Cos. & Exterran Holdings: Received payments ($420 million) for natural gas assets nationalized in 2009.
Rusoro Mining & Crystallex: Canadian mining firms settled claims for over $1 billion each after arbitration
ExxonMobil: Sought billions, ended up with a 2012 ruling for $255 million from an ICC case and a later $1.6 billion ICSID award (later annulled).
ConocoPhillips: Received large awards from World Bank tribunals, totaling billions, though enforcement and payment were challenging.
Total, Chevron, Statoil, BP: Agreed to give PDVSA majority control and remained as minority partners, avoiding full expropriation.
Williams Cos. & Exterran Holdings: Received payments ($420 million) for natural gas assets nationalized in 2009.
Rusoro Mining & Crystallex: Canadian mining firms settled claims for over $1 billion each after arbitration