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The Rise of Resource Nationalism

Posted by Matt in August 13th, 2007

Venezuela is among a small but growing number of resource-rich countries to put the squeeze on international corporations. Russia early this year pressed both BP and Shell (Guardian) into turning over majority stakes in Russian gas operations to state-owned Gazprom. Bolivia nationalized gas and oil fields (NPR), and Ecuador used troops (Forbes) to take over Occidental Petroleum’s holdings. It is not just the oil and gas sector facing renationalization. Zimbabwe’s government said in June it would nationalize the country’s uranium (Reuters) as well as its coal and methane projects.

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