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Countries that nationalised their oil

Eleven countries took full state ownership of the oil once dominated by foreign companies, between 1937 and 1980. Bolivia was first, in 1937.

The full list

1937-1951: the first takeovers 3

Each took over foreign oil companies outright by decree or law: Bolivia in 1937, Mexico in 1938 and Iran in 1951.

• 🇧🇴Bolivia
• 🇲🇽Mexico
• 🇮🇷Iran

1963-1972: taking over the dominant producer 3

Each took over its dominant foreign producer in one move: Burma in 1963, Peru in 1968, Iraq in 1972, completing its takeover by 1975.

• 🇲🇲Burma
• 🇵🇪Peru
• 🇮🇶Iraq

1975-1980: full ownership in the oil-boom years 5

Full state ownership came between 1975 and 1980. The four Gulf states bought out their foreign partners in stages; Venezuela legislated.

• 🇰🇼Kuwait
• 🇻🇪Venezuela
• 🇶🇦Qatar
• 🇸🇦Saudi Arabia
• 🇧🇭Bahrain

Not on the list

• Algeria (24 February 1971): Took 51% of the French oil concessionaires, with all producing gas fields and pipelines.
• Libya (1971-1973): Nationalised BP's share of the Sarir field and Bunker Hunt outright, but took only 51% of Occidental and of the Oasis group, the major producers, from 1973.
• United Arab Emirates (Abu Dhabi): ADNOC acquired 60% of the Abu Dhabi Petroleum Company in the early 1970s and foreign partners kept the rest.

Questions

How many countries fully nationalised their oil?

Eleven countries took full state ownership of the oil once dominated by foreign companies, between 1937 and 1980. Bolivia was first, in 1937.

Which countries are on the list?

Bolivia, Mexico, Iran, Burma, Peru, Iraq, Kuwait, Venezuela, Qatar, Saudi Arabia and Bahrain.

What is an easy way to remember them?

3-3-5: the first takeovers (Bolivia, Mexico, Iran), single moves in 1963 to 1972 (Burma, Peru, Iraq), and five in the 1970s boom (Kuwait, Venezuela, Qatar, Saudi Arabia, Bahrain).

More lists

Each name checked against at least two sources, one of them Foreign Relations of the United States, on 7 October 2026. Next review by 7 October 2028.
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