Abstract

Oil in Venezuela
Hallgren, Mauritz A. | April 25, 1928 issue

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The article throws light on the foreign oil interests with respect to legislation in Venezuela. Before 1919 Venezuelan petroleum production was inconsequential. At the start of the active exploitation period, the year following the close of the World War, the annual output was 425,000 barrels; one field alone, the Seminole, was daily producing more than 300,000 barrels in the U.S. Since 1919 Venezuelan production has virtually doubled each year; between 250,000 and 300,000 barrels are now hauled away each day from the prolific Maracaibo basin.

See Also:

FOREIGN trade regulation; PETROLEUM industry & trade; PETROLEUM law & legislation; OIL consumption; BILLS, Legislative; VENEZUELA
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