Petroleum Developments In Venezuela During 1945

The end of the war in Europe and the Pacific failed to curb the upward trend of production in Venezuela,- which easily surpassed that of any previous year. The total production for 1945 amounted- to 323,369, 430 bbl., which was 26 per cent over the total for 1944, the previous peak in the history of the oil industry of the country. This increase was caused mainly by the greater demand for petroleum in the last stages of the war; the fact that the danger from enemy submarines had been overcome, which allowed all oil companies to use increased shipping facilities, and the fact that more materials were available for drilling operations. However, the materials supplied were by no means adequate and considerable credit is reflected on the Venezuelan petroleum industry for the increased production obtained by utilizing all available equipment to its fullest extent.