What did Venezuela seize from U.S. oil companies...

According to industry reports, Venezuela seized significant American corporate assets in the oil industry in 2007, under President Hugo Chávez, as part of a broader nationalization of heavy oil projects in the Orinoco Belt. On Feb. 26, 2007, Chávez issued a decree nationalizing the remaining foreigncontrolled oil operations, requiring the state-owned Petróleos de Venezuela S.A. (PDVSA) to ta...