Once the center of the Caribbean slave trade, the island of Curacao was hard hit by the abolition of slavery in 1863. Its prosperity (and that of neighboring Aruba) was restored in the early 20th century with the construction of oil refineries to service the newly discovered Venezuelan oil fields. The island of Saint Martin is shared with France; its northern portion is named Saint-Martin and is part of Guadeloupe, and its southern portion is named Sint Maarten and is part of the Netherlands Antilles.