Venezuelan science developed thanks to the oil industry, which funded research and allowed scientists specialized training abroad[1]. After the nationalization of the oil industry in 1976 and the creation of the state-owned company PDVSA, Venezuela had a strong scientific workforce that took over the management of the new state-owned oil company[1]. The government injected oil profits into universities through its national science agency, which distributed money as grants to laboratories working in disciplines related to the oil sector[1]. However, under Hugo Chávez and his successor Nicolás Maduro, mismanagement and corruption devastated Venezuela's oil industry and dried up funding for science[1]. Laboratory facilities became obsolete, most students left the country, and research production practically disappeared[1]. Scientists now hope to be part of the recovery of the oil industry and that any agreements with foreign oil companies should include a requirement to reinvest money into research[1].