General Discussion

which was a fairly autonomous quasi-governmental organization who actually managed VZ's oil. When Chavez came into power, he fully brought the Big Oil-controlled PDVSA under his government's control. That act was much more disruptive to the oil majors than the 1970's "nationalization" and led to big loss of future profits they'd contracted with PDVSA to get. They were, compensated for some of their actual losses, they didn't get entirely screwed by Chavez, thanks to an international tribunal's decision ordering him to pay them back billions.