LOSS OF OIL IN PERSIA

Press, Volume LXXXVII, Issue 26491, 4 August 1951, Page 7

LOSS OF OIL IN PERSIA

U.S. Companies Plan Remedies

(N.Z. Press Association—Copyright) (Rec. 9 p.m.) WASHINGTON. Aug. 2. Nineteen United States oil companies operating abroad agreed to-day to offset any loss of oil in Persia by increasing the production of crude and refined oil products in other countries. This was among the courses of action recommended by the oil companies in a voluntary plan approved by United States Petroleum Administration for Defence. The co-operative action authorised by the plan provides for increasing crude oil production in 11 countries, including New Guinea, and increasing refinery operations in 27 countries, including Australia. The plan also recommends: (1) Arrangements among the participating companies for the purchase, loan, sale, or exchange of crude oil, petroleum products, and blending agents for distribution in foreign countries. (2) Arrangements for the most efficient use. without regard to ownership. of terminal and storage facilities, so as to minimise duplication, multiple loadings and dischargings, split cargoes, crosshauling, back-hauling, and . idle time in port. A statement isued to-day says that, because of the closing of the Abadan refinery and the withdrawal of the British tanker 'fleet from Ab«dan. there is building up a serious shortage and maldistribution of petroleum supplies. This is affecting adversely the interests of the United States, including the successful continuance of its mobilisation programme and the mobilisation programmes of friendly foreign nations. U.S. NAVY’S AIR ARM (Rec. 9.30 p.m.) NEW YORK. August 2. Admiral William Fechteler, the new Chief of Naval Operations, said in Norfolk to-dav that aircraft-carriers, not battleships, would continue to be the backbone of the United States Navy. x He said there would be no changes in high naval policy. The Navy’s job. he said, could not be performed without an adequate air am. RAIL STRIKE IN ARGENTINA (Rec. 9 p.m.) BUENOS AIRES, Aug. 2. The anti-Peron Brotherhood of Locomotive Drivers and Firemen remained on strike on two main lines for the second day to-day, but emergency crews of inspectors and engineers kept all Argentine railroads operating. Mounted police, sent to provincial railway stations to keep order, were withdrawn to-day.