New details in failed Venezuelan coup

[Judi Lynn]

9. No doubt about that whatsoever. We have history as our textbook. More accurate than trolls!

Factbox: Venezuela's nationalizations under Chavez
Sun Oct 7, 2012 10:49pm EDT

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Below are the main nationalizations under Chavez:

OIL

* In 2007, Chavez's government took a majority stake in four oil projects in the vast Orinoco heavy crude belt worth an estimated $30 billion in total.

Exxon Mobil Corp and ConocoPhillips quit the country as a result and filed arbitration claims. Late last year, an arbitration panel ordered Venezuela to pay Exxon $908 million, though a larger case is still ongoing.

France's Total SA and Norway's StatoilHydro ASA received about $1 billion in compensation after reducing their holdings. Britain's BP Plc and America's Chevron Corp remained as minority partners.

* In 2008, Chavez's administration implemented a windfall tax of 50 percent for prices over $70 per barrel, and 60 percent on oil over $100. Oil reached $147 that year, but soon slumped.

* In 2009, Chavez seized a major gas injection project belonging to Williams Cos Inc and a range of assets from local service companies. This year, the energy minister said the government would pay $420 million to Williams and one of its U.S. partners, Exterran Holdings, for the takeover.

* In June 2010, the government seized 11 oil rigs from Oklahoma-based Helmerich & Payne Inc.

http://www.reuters.com/article/2012/10/08/us-venezuela-election-nationalizations-idUSBRE89701X20121008