GREAT PETROLEUM FIELDS.

Taranaki Daily News, 15 September 1916, Page 6

GREAT PETROLEUM FIELDS.

RQUMAXIA'S vast production. Roumsv.ia is one of the great petro-leum-producing countries of the world., anil Rumanians claim for their product a higher percentage of pure oil than is found in the American, Gnlieian and Caucasian wells. Although American competition nearly destroyed the industry between 1873 and 1895, improved methods and legislation favoring the introduction of foreign capital enabled it to recover. The industry is carried on by private producers, as well as by the State, the American Standard Oil Company being largely interested. In tlie early days of the Avar Roumania was heavily hit, but despite almost constant rumors of its imminent participation in the fray, ell'ected a remarkable recovery, and the production for last year showed an increase over the previous year. The interruption of transport facilities and tlie glut of the available storage accommodation made the handling of the additional production a difficult problem. A noteworthy fact was that the increase in the production took plac-e in spite of the suspension of drilling activity. In certain districts all efforts to handle the output had to be abandoned, and the oil ran to waste. The history of the industry in Uoumar.la during the last decade has been a record of unqualified success. When the output passed the absorbing capacity of tlie home market producers lost no time in taking concerted steps to find outside markets, and were ably supported by the Government. One-half of Koumauia's refined products must seel; markets outside, and with the closing of the Dardanelles the main overseas outlet was ;ut off. Producers had to fall back upon the north-west outlet into Germany, that country undoubtedly securing large quantities from this source, despite tlie efforts of the Roumanian Government to prevent it.