Cómo entiende Donald Trump la nacionalización que hizo Venezuela de su industria petrolera

diciembre 28, 2025

TL;DR

Venezuela nationalized its oil industry in 1976 through the Loreich law, effective January 1, 1976, extinguishing existing oil concessions.
The nationalization established state control over oil exploration, exploitation, refining, and export, managed by the newly created state-owned company, PDVSA.
During Hugo Chávez's presidency, the nationalization was intensified, requiring foreign companies to enter mixed enterprises with PDVSA holding a majority stake.
ExxonMobil and ConocoPhillips were among companies expropriated when they did not accept new terms, leading to international arbitration and favorable rulings for compensation.
PDVSA lost autonomy under Chávez, with its funds diverted to government missions, and thousands of workers who supported a 2002-2003 oil strike were dismissed.
Venezuela has been a crucial geopolitical player for the U.S. due to its oil exports, located strategically close to U.S. refineries.
Historians and officials assert that Venezuela's subsoil resources have belonged to the country since its independence, refuting claims of U.S. rights.
Donald Trump has questioned the 1976 nationalization, claiming U.S. companies were dispossessed of their rights and demanding their return.

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