Key Points The company's Venezuela assets were seized twice. Political risks abound, but there could also be major rewards from such a venture. 10 stocks we like better than ExxonMobil › What's old is new again. At least, that seems to suddenly be the case for ExxonMobil Holdings (NYSE: XOM) . Exxon first went into Venezuela in the 1940s. But over the years, the oil major had its assets in the country expropriated by that nation's government, not once, but twice. The South American nation nationalized the entire oil industry in 1976 under President Carlos Andrés Pérez. After being invited back in the 1990s, ExxonMobil made major new investments in the country, only to have those new assets taken by Hugo Chavez's regime in 2007. Missed AI’s "Act 1"?
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