PETROLEUM NEWS.

Taranaki Daily News, Volume LVII, Issue 56, 27 July 1914, Page 2

PETROLEUM NEWS.

DEVELOPING NEW FIELDS. A brief review of operations that are now under way throughout tbe world in the direction of developing new oilfields is contained in a letter recently received from a British expert by Mr. iJ. L. Stevens, of Auckland. "The recent agreement entered into between the.Admiralty and the Anglo-Persian Oil Company for the supply of Persian oil for the British Navy has caused widespread controversy," says the writer. "A rcpiesentativc body of those interested in colonial oil and the petroleum industry has emphatically protested against the Government's action in subsidising enterprise in Persia for Admiralty liquid fuel, and is of opinion that such action will not attain the desired end in practice, but will greatly injure the petroleum industry by preventing the active development of promising oil regions in tin 1 colonies. On the other hand, a committee of experts lias expressed its opinion that such a course is desirable and commendable. Simultaneously with this development comes the great oil boom in Canada, which, properly managed, might add considerably to the Empire's present resources. Unfortunately, the feverish, activity so often accompanying such booms is at present rampant, and it will be some time before conditions reach the normal and the extent and magnitude of the discoveries be accurately gauged. Simultaneously a programme for actively developing the Chinese oilfields is under consideration; oil is being discovered in several new districts, and further attempts to develop the industry are maturing. So that altogether, at the present time, inteiest in oil matters is approaching the conditions of the boom time in MO,"