PETROLEUM.
.The London correspondent of . the "Mercantile Gazette," writing on May 30th, says:—"Tho oil share market after the shake out looks firmer now, the news that the Anglo-American 0:1 Company have advanced their prices of lubricating oils by 5s to 10s per ton, according to grade, having actually helped. This further advance, which makes the total increase £1 16s per ton, is attributable to the rapid growth of the demand. Foreign imports have increased by 25 per cent, since the beginning of the year. Meanwhile the Shell Transport and Trading Company—the Standard Oil Trust's mammoth competitor—has entered into one of its biggest—if not the biggest—contract :'n the history of the oil industry, namely, to supply to the London General Omnibus" Company a minimum amount of 100,000 tons of petroleum during a period of two years.' It is understood that the whole profit to the Shell Company—taking current prices and cost of nroduction—will bo about £200,000, or" 8 per cent, on the ordinary share capital of the "Shell Company."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19120716.2.73.4
Bibliographic details
Press, Volume XLVIII, Issue 14408, 16 July 1912, Page 8
Word Count
168PETROLEUM. Press, Volume XLVIII, Issue 14408, 16 July 1912, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.