Spain–Venezuela relations
News of Spanish losses in the 1808 Napoleonic Wars soon reached Latin America, but only on 19 April 1810 did the "cabildo" (city council) of Caracas decide to follow the example set by the Spanish provinces two years earlier. On 5 July 1811, seven of the ten provinces of the Captaincy General of Venezuela declared their independence in the Venezuelan Declaration of Independence. The First Republic of Venezuela was lost in 1812 following the 1812 Caracas earthquake and the Battle of La Victoria (1812). Simón Bolívar led an "Admirable Campaign" to retake Venezuela, establishing the Second Republic of Venezuela in 1813, but this did not last long either, falling to a combination of a local uprising and Spanish royalist reconquest.
Republic of Venezuela
After a military "coup d'état" on 23 January 1958 sent General Marcos Pérez Jiménez into exile, Venezuela's three main political parties signed the Punto Fijo Pact. The ensuing elections brought Rómulo Betancourt, who had been president from 1945 to 1948, back to power. Betancourt's government halted grants to multinational oil companies, created a Venezuelan oil corporation, and helped establish OPEC in 1960, an initiative led by Development Minister Juan Pablo Pérez Alfonso. The administration also introduced a new constitution in 1961, dividing the government into executive, legislative, and judicial branches; pursued agricultural reform; and promoted an international doctrine in which Venezuela only recognised governments elected by popular vote.