ConocoPhillips

ConocoPhillips appears in Chevron, Venezuela and the Paradox of Plenty as one of the American oil majors that left Venezuela after Hugo Chavez tightened control over the oil industry. The source contrasts ConocoPhillips and ExxonMobil with Chevron, which negotiated with Chavez and stayed.

The company matters as an exit case. The episode says ConocoPhillips and ExxonMobil argue that Venezuela still owes them billions from assets taken about two decades earlier, tying the company to the legal and capital-risk side of Oil Nationalization and PDVSA control.

Connections

• Venezuela, Hugo Chavez, and PDVSA - country, leader, and state oil-company context.
• Chevron and ExxonMobil - comparison companies in the source.
• Oil Nationalization and Political Resource Curse - concepts that frame the asset-taking and investment-risk dispute.