PETROLEUM NEWS

Taranaki Daily News, Volume LIV, Issue 103, 21 October 1911, Page 4

PETROLEUM NEWS

THE GREAT (HL WAIL TWO SI'RVTVIXC: -FIRMS IHKELV TO SHARK THE SPOT IA » London, September 2(i. The great oil war has' now reached., a, pitch that is too desperate to last. There are now two companies alone left in the field as regards British sales, the third competitor, a Russian Company, which* was just beginning to make it* presence known, having been bought up by the Standard Oil Company. The British firm is the Shell Company, with- its link of corporations in which Sir Marcus Samuel is the directing spirit.

"Petrol is not affected to any great extent," said Mr. Vincent, a director of. Messrs. Gara«ige's>, who buys for his iirm, "but the change: hi the price of paraffin is extraordinary. It is more than 50 per cent, cheaper now than it was before tha war began, and the retail price has fallen for a good burning oil from 7d, :\, gallon to about 4'/»d" There can be only one end to tlm war," said an expert. "The great competitors now left in the field are both too big- to be swallowed tip, and. when they have lost enough money there in no doubt that they will settledifferences by sharing the eatfth—u hemisphere for each."

[Recent cablegrams have indicated that the two firms have come to an arrangement.]

OPERATIONS AT KOTUKU.

Very little has fqr some time been heard of the boring operations of the (iftlicians with the new plant at Kotuku (says the Grey Argus). It appears,trat a good deal of difficulty was encountered in the first 70ft., which* consists of coarfi<" shingle, interspersed with flue sand .and huge, hard boulders. The boring t«ol« found no solid resistance, such as is afforded by sedimentary rock. The boulders constantly shifted under the impact of the blows of the -boring chisel, wlitfc tlio quantity of water in the loose laver of gravel washed the sand into the* borehole almost «s fast as it was, emptied. The result wa% very discouraging to the Oalicians, who had not encountered anj> tiling like that in their boring experience in Europe. Rut they eventually managed to get through that rather trying 70ft. and into solid country, which was a great relief to them. The bore-hole is now down 300 ft., and at present making headway at the rate of at least 20ft. in the 24 hours. While the borers may still strike drift sand, there is no chance of encountering anything like that terrible first 70ft. Judging from these facts, boring at Kotuku should make good progress from this out until the oil sand is penetrated. The company is making preparations- for carrying on operation* on an extensive scale in both islands.