Oil Nationalizations in OPEC Member States (1960–1986)

1. OPEC is founded in Baghdad

   Sep 14, 1960Labels: OPEC, Baghdad

   • OPEC
   • EBSCO

2. Libya creates the National Oil Corporation

   Jan 1, 1970Labels: Libya NOC, Libya

   • IEA
   • NOC

3. Algeria begins major oil-and-gas nationalization

   Feb 24, 1971Labels: SONATRACH, Algeria

   • ALNAFT
   • CIA FOIA

4. Nigeria joins OPEC and forms NNOC

   May 1, 1971Labels: NNOC, Nigeria

   • Nigeria MPR
   • Springer

5. Iraq nationalizes the Iraq Petroleum Company concession

   Jun 1, 1972Labels: Iraq, Iraq Petroleum

   • Iraq 1972
   • Oil Chronology

6. Abu Dhabi takes 25% stake in onshore concession

   Jan 1, 1973Labels: Abu Dhabi, Onshore concession

   • ADCO
   • ADNOC

7. Saudi Arabia buys 25% of Aramco

   Jan 1, 1973Labels: Saudi Arabia, Aramco

   • Aramco
   • CIA FOIA

8. Libya takes 51% of key foreign oil assets

   Aug 13, 1973Labels: Libya NOC, Foreign operators

   • AJIL
   • IEA

9. Abu Dhabi raises onshore stake to 60%

   Jan 1, 1974Labels: Abu Dhabi, Onshore concession

   • ADCO
   • ADNOC

10. Kuwait makes KNPC fully government-owned

    Jan 1, 1975Labels: Kuwait, KNPC

    • KNPC

11. Venezuela nationalizes and launches PDVSA

    Jan 1, 1976Labels: Venezuela, PDVSA

    • PDVSA
    • ETDEWEB

12. Nigeria forms NNPC by merging NNOC and inspectorate

    Jan 1, 1977Labels: NNPC, Nigeria

    • Nigeria MPR
    • Nigeria Oil

13. Qatar completes nationalization of its oil sector

    Feb 1, 1977Labels: Qatar, QPC

    • QatarEnergy
    • Qatar History

14. Saudi Arabia takes 100% ownership of Aramco

    Jan 1, 1980Labels: Saudi Arabia, Aramco

    • Aramco