N.Z. RATIONING OF PETROL

Press, Volume LXXXV, Issue 25741, 1 March 1949, Page 4

N.Z. RATIONING OF PETROL

“ OVERSEAS EXCHANGE ONLY REASON” SUPPLY PROBLEMS SAID TO BE ENDED (P.A.) WELLINGTON. February 28. Petrol rationing in New Zealand could be abolished, so far as supply and tanker availability were concerned, said Mr H. Rabling, chairman and managing director of the Vacuum Oil Proprietary. Ltd., Melbourne, in an interview to-day. Overseas exchange was the only reason for rationing, as far as he knew, Mr Rabling continued. The supply and tanker shortages of a year ago had been taken care of by the oil companies, which had expanded their lacilities. The shortage had not been in well production, but in refining capacity. The tremendous expansion in demand all over the world which fol ■ lowed the war could not for a time be met. That demand was still increasing, but through the enterprise of private industry it had been overtaken. Additional refining capacity and more tankers had been brought into service. His own company, said Mr Rabling. was building a refinery in Melbourne. It would be operating in April. Two or three other refineries existed already in Australia. No oil had been found yet in Australia, but geological oarties were prospecting on the Australian mainland and in Papua. A really intensive search for oil was planned for the next two years. The possibility of world oil supplies running cut was not giving any concern to oil companies, he continued. There was enough oil already known to last at least 25 vears at the present rate of consumption, and probably four or five times as much as that actuallv existed. Mr Rabling was last in New Zealand as a guest of the Government in 1943. On his present visit, he. will combine business activities with a holiday.