Which Venezuelan leader nationalized the oil industry in 2007?

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Hugo Chávez nationalized Venezuela's oil industry in 2007, forcing foreign companies to accept minority partnerships or leave. ConocoPhillips and ExxonMobil refused the new terms and lost their assets. Chávez used oil revenues to fund social programs, but the nationalization also drove away expertise and investment that Venezuela desperately needed. The seizures led to international arbitration cases that creditors are still trying to collect on nearly two decades later.

Which Venezuelan leader nationalized the oil industry in 2007?

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