Geo Image Collection

52 years ago today, July 31, 1971, Venezuela's Hydrocarbons Reversion Law mandated transfer to government ownership of all unexploited concession areas and all their residual assets by 1983. Standard Oil of California, aka Chevron, had major interests in Venezuela, then an economic and political ally for the U.S. In 1964, Ted Spiegel, a photojournalist with Black Star, photographed training of local men for Richmond Exploration Company, a subsidiary of Standard Oil in Venezuela.

52 years ago today, July 31, 1971, Venezuela's Hydrocarbons Reversion Law mandated transfer to government ownership of all unexploited concession areas and all their residual assets by 1983. Standard Oil of California, aka Chevron, had major interests in Venezuela, then an economic and political ally for the U.S. In 1964, Ted Spiegel, a photojournalist with Black Star, photographed training of local men for Richmond Exploration Company, a subsidiary of Standard Oil in Venezuela. #chevron #OilAndGasIndustry #talkoilandgas #oilandgas #Venezuela #oilexports #Petromonagas