Exxon Mobil filed an arbitration claim in 2007 seeking as much as 10 billion dollars in compensation for the Cerro Negro project located in the Orinoco heavy oil belt that Chavez nationalized ...

“We can’t do it alone.” He said the US Geologic Survey found the Orinoco Belt has more than 500 billion barrels of recoverable crude. Repsol, Petroliam Nasional Bhd., Indian Oil Cor ...

CARACAS, Venezuela — President Hugo Chavez announced plans Monday to nationalize Venezuela’s electrical and telecommunications companies and amend the constitution as he moves to transform his ...