RUMANIAN OIL
Troubles Germans May Meet
DECLINING INDUSTRY
Shortage Of Modern Equipment
(Received November 12, 8.45 p.m.)
LONDON, November 11
Discussing the difficulties Germany is likely to meet in exploiting the Rumanian oilfields, a correspondent who has lately been in Rumania, in an article in *’ Ihe Times,” says that the Rumanian product is insufficient in quality and in quantity for German needs. Quite apart from the earthquake damage, the industry has been declining as a result of a shortsighted ultra-nationalist policy expressing itself in legislation aimed against the companies owning the largest oilfields, which are financed by foreign capital.
Foreign companies in June produced approximately 13,300 metric tons of the Rumanian daily output of 16,500 metric tons. Later the two largest indigenous companies produced only 1200 metric tons. A reduction in the number of foreign executives on the oilfields caused indiscipline, and a decline in proficiency, and a lack of skilled control
The revenue from the industry has declined, correspondingly with produelion. which ha'd fallen from 8.700,000 metric tons in 1936 to a probable total of 5.700,000 this year. Only two new oil fields had been discovered since
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Dominion, Volume 34, Issue 42, 13 November 1940, Page 8
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188RUMANIAN OIL Dominion, Volume 34, Issue 42, 13 November 1940, Page 8
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