A Golden Adventure: The First 50 Years of Ultramar - Paul Atterbury; Julia MacKenzie;Hurtwood Press, 1985, Hardback in Dust Wrapper.
Condition: Very Good — in Very Good Dust Wrapper. Dust wrapper a little rubbed at the edges, more heavily so at the spine ends and corners, and slightly tanned. Boards slightly faded at the top edges. Edges of the text block lightly tanned. Text complete, clean and tight.
Maps to the endpapers. Illustrated with photographs, in colour & black and white. From the cover: “Ultramar was formed in London in 1935 and 1985 is its golden anniversary. This book is the story of the Company — its Golden Adventure. From a small exploration company in Venezuela, it has grown into an integrated oil company operating on five continents.
Oil had been discovered by Ultramar in the hitherto unexplored llanos of central Venezuela just prior to the Second World War, but the outbreak of hostilities in 1939 cut off the availability of funds, equipment and expertise from Europe. Exploration and development came to a halt and the future looked bleak, but Ultramar, always resourceful, found an American partner and went on to develop the Mercedes field.
In the late 1950s, when all the teething problems had finally been resolved and the debts repaid, crude oil prices in the world plunged and Ultramar had to face the reality that there was more to the oil business than finding and producing oil and gas. A critical decision had to be made and typically Ultramar took a bold step. It decided to build and acquire refining, marketing and shipping facilities and become a fully integrated oil company. By the mid 1960s, this had become reality and it is the basic pattern which remains today.
Ultramar quite early foresaw the eventual nationalisation of Venezuelan oil and the consequent loss of its prime source of income. Through the 1960s and early 1970s, the Company gradually expanded its exploration and production activities into Canada, the U. K. , the U. S. and Indonesia. When the Venezuelan income was lost in 1975, Ultramar was able to take it in its stride. In fact, in the last two decades, Ultramar’s profits have risen steadily, and in 1984 attained a pre-tax profit of £285 million and an after-tax profit of £127 million.
The story of Ultramar is largely that of the men and women whose initiative, ambition and determination have made the Company a success..”