Flying the flag: Venezuela is one of the leaders in the push towards resource nationalism
The liberation game
The relationship between Western and national oil companies has never been under such strain as a surge of political nationalism sees countries around the world seeking greater control of their natural resources.
The iron grip of Russia and the nationalistic fervour sweeping across some parts of South America has lead to expropriations and aggressive measures against foreign investors, with state-controlled companies exerting ever greater power and influence.
Warnings have been sounded to Big Oil that it has to be seen to "get tough" when assets are taken over by host governments.
Some players, most notably ExxonMobil in Venezuela, have pursued legal action, while others have appeared weak for fear of upsetting the host government.
However, some countries, most notably Russia, are starting to pay the price for their energy strategies.
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