1958 World Oil's Map of Venezuela, Colombia, Trinidad, Peru, Ecuador, and Bolivia
By: Gulf Publishing Co.
Date: 1958 (dated) Houston
Dimensions: 25.75 x 38 inches (65.5 x 96.5 cm)
This is a scarce and important map showing early development and blend of privatization and nationalization of oil in Venezuela, Colombia, Trinidad, Ecuador, Peru, and Bolivia.
This map was published by Houston-based Gulf Publishing Co. as a supplement to the International Outlook Issue of World Oil on august 15, 1958. It shows all of the northwestern portion of South America and presents in green the land on which oil concessions have been granted or applied for. The map also indicates the location of oil fields, refineries and gas injection plants , and delineates oil and gas pipe lines in red. Oil basins are also named with the extent of their reach outlined in red, dashed lines.
History of Oil in South America during the 1950s
Overall, the 1950s in South America witnessed a mix of nationalization efforts, renegotiations of oil concessions, and the establishment of state-owned oil companies, reflecting the region's quest for greater control over its valuable natural resources. By the end of the 1950s the Organization of the Petroleum Exporting Countries (OPEC) would be founded (1960) but the roots of this organization stem from the years prior.
In 1943, Venezuela had nationalized its oil industry, creating Petróleos de Venezuela, S.A. (PDVSA). However, during the 1950s, the Venezuelan government negotiated with foreign oil companies for more favorable terms. Ecuador underwent changes in its oil policies. While foreign companies were involved in oil exploration, the government aimed to assert greater control over the industry. In most instances what began with involvement from foreign companies would lead to a shift in greater governmental control by the end of the decade.
Importance of the Map
The discovery of oil in South America has been a pivotal development that significantly impacted the region's economies and geopolitical landscape. It has led to both opportunities and challenges, influencing national policies, international relations, and the development of state-owned oil companies in several countries. This map presents that state of the oil industry in the region at a very important point in history, just two years prior to creation of OPEC at the Baghdad Conference on September 10–14, 1960, which included by the five founding countries, Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
Gulf Publishing Company was established in 1916 by Ray Lofton Dudley, and is a global publishing and events enterprise focused on the hydrocarbon energy sector. The company organizes conferences and events tailored for the energy industry. Its premier magazines—World Oil, Hydrocarbon Processing, Pipeline & Gas Journal, and the Petroleum Economist—are released on a monthly basis. Since its inception, World Oil has been a comprehensive source covering the upstream oil and gas industry, spanning conventional, shale, offshore, exploration, and production technology in the oil and gas sector.
Condition: Map is in A condition, issued folded with fold still present but no tears or holes. Map can be flattened or linen backed for an additional but reasonable fee.
Inventory #12661
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