PETROLEUM.

Taranaki Daily News, Volume LVII, Issue 188, 18 January 1915, Page 6

PETROLEUM.

AMERICAN OIL. j According to American papers Britain is purchasing American oil extensively. How much of it is being secured for Admiralty purposes can.Jot be determined, but it is assumed that it amounts to a considerable percentage of the total contracts. Despite fai'.'y large purchases from American companies, it is believed ; that Britain is doing the bulk of her buy- ■ ing from the Shell Combine. This isj an English interest which is in a position > to supply great quantities of oil in the ' present emergency, because of its large holdings in practically all oil countries. A few days ago an announcement was! made in London of a large Government | contract being placed with the Shell ■ Transport and Trading Company. It is, nndersi od that although a considerable j proportion of the oil being supplied Bri- ] tain by the Shell combine is coming i from the company's American fields, the Shell and Royal' Dutch group has been, able to get largo supplies from the Roumanian and Far Eastern fields. Because of this fact, the great demand for American oil by Britain which was expected at the outbreak of the war has not as yet materialised, although it is estimated that Britain is taking an amount exceedingly above normal . The American companies are now doing a greatly iv.ercased business with Scandinavian countries, notably the Standard, Texas and Gulf Refining Companies. The authorities estimate that Britain as well as other countries abroad will be getting the bulk of supplies from the United States and Mexico because the fields in these countries arc unhampered by siie.li war conditions as surround the Russian, Galician and Roumanian fields. At the present time, contrary to general belief. Britain is not taking much Mexico oil. Tt can be authoritatively stated that the British Pearson interest, whose holdings are exclusively in Mexico, and which has done a large business abroad, is not in a. position to take large contracts for oil shipment, abroad, and that the Royal Dutch combine is similarly placed in so far as Mexican supplies are concerned Furthermore, the European export: business of the Mexican Petroleum Company has been largely affected by (lie war, and is now much reduced.