RICHFIELD OIL COMPANY

Hokitika Guardian, 28 August 1929, Page 6

RICHFIELD OIL COMPANY

EXTENSION OF BUSINESS RECOMMENDED.

AUCKLAND, August 26

A passenger by the Niagara, en route to Los Angeles, is Mr Frank B. Smith, representing the Richfield Oil Company, of California. Mr Smith is returning home after a double survey of the prospects for the extension of his firm’s business in the Antipodes. His recommendation to* headquarters will be favourable, and so Australia and New Zealand may soon have another keen distributor in the supply field.

“i have ascertained,” said Mr Smith, “ that the Australian market absorbs 220,000,000 gallons of petrol annually. The territory seems to be rather swamped with petrol pumps, but at the same time it appears there is still ample room for the entry of an independent company. My company has a capital of £35,000,000. We 'own wells and refineries, and are producing over 30,000,000 barrels per' year. As we also have our own fleet of tank steamers, I am certainly recommending opening up in .Australia. I feel that the most economical method of handling bulk cargoes will be by way of the four ports, by which I mean that a trip should include Sydney, Melbourne,' Auckland, and Wellington, so for that reason it will be desirable to embrace this Dominion in our programme of operations.”