Introduction

In 2006, Venezuela converted 32 oil and gas operating services agreements (OSAs) with multinationals into State-controlled joint ventures.[1] This action marked an important step in a wave of re-nationalizations in Venezuela, termed the "Simon Bolivar National Project 2007-2021." Other steps in this process included the forced conversion of contracts for the production of petroleum in the Orinoco belts, the re-nationalization of CANTV ( Compania Anonoma Nacional de Telefonos de Venezuela ), EdC ( Electricidad de Caracas ), and the amendment of hydrocarbons regime to ...