ConocoPhillips

Rule Changes

As of May 2026: Exited Venezuela in 2007; holds ~$10 billion in arbitration claims

Hugo Chávez nationalized Venezuela's oil sector in 2007, expropriating assets from ExxonMobil, ConocoPhillips, and other foreign companies. Nineteen years later, less than a month after U.S. forces captured Nicolás Maduro, Venezuela's National Assembly passed legislation reversing that policy. Acting President Delcy Rodríguez signed it into law.

Updated May 26