PETROLEUM NEWS

Taranaki Daily News, Volume L, Issue 59, 19 March 1907, Page 2

PETROLEUM NEWS

DEMAND FOR CRUDE OIL. | INQUIRIES FROM THE AD.MItfALTV. Lieutenant-Engineer Wheafes, in charge of the British Admiralty's coal supplies in Kow Zealand, and who- is stationed at West port has approached the Taranaki Petroleum Ci mpany, ei behalf of the Admiralty, with regard t > a supply of crude petroleum for navalpurposes. On Saturday he waited iuio i Air. Hciry, Chairman of Director.,, in regard to the matter. Tlie Admiralty, it, appears, uses considerable quant it ie-, of petroleum tor the torpedo and destroyer llccts, on account of its emit 1 in;; no smoke, as well as for spraying the tires in the big battleships during ii.i.-nl manoeuvres, when a big sudden head i.f steam is rei|iiircd. Asked la.w soi n t li--umipany would be in a position to supply petroleum. Mr. Kerry said if the Admiralty provided the barrels the com panv could supply daily -H<> barrels, a i I probably more, right a.vay-, or the cote panv would lie prepared, provided a satisi'a-toiT contract were made, to lay down pipiiig from the works to Hi ■ wharf and load up vessels tli 'i'e wit li whatever quantity was required. Tennwere gone into, and Lieut. Wh.-ates in; iiilit< d his intention of roinmuiiieatioi with the Admiralty immediately. Th • Lieutenant was shown otor the whole of the work at the bores, and giv-'-.t a t opportunity of seeing the oil flowing ;.i the Itirthdav well. He was greatly Mirprised ill the work done and being done, and most favorably struck with th.prospects of the fiehl. The company have also received a communication from ;t large anil wealthy firm in Birmingham, nsking I'm prices for the petroleum in its crude state, which they are pri-paved to buy ill large quantities. The company nr. now in treaty with the linn. 1 These inquiries indicate that therare prospects of a good demand loi crude petroleum, and that there shouli be no trouble in finding a market J'oi whatever the local oil companies cat supply. Satisfactory work is being done a No. 2 bore. " All the 5-incli casing i down, and boring oil the lower levels i; being proceeded with a p.ice. The hotis now in softer country, and it is lie lioved that the remaining few ltundr-' feet having to be pierced before the oi measures are tapped will be got tbrougi in good time.