AMERICAN OIL COMPANIES

Evening Star, Issue 19712, 12 November 1927, Page 11

AMERICAN OIL COMPANIES

EXPANDING OVERSEAS TRADE AUSTRALIA AND. HEW ZEALAND TERMINALS AT AUCKLAND AND WELLINGTON. Press Association—By Telegraph—Copyright. NEW YORK, November 11. (Received November 12, at 11 a.m.) A message from Philadelphia states that Mr James -Vandyke, chairman of the Atlantic Refining Company, confirmed the report that an agreement had been made by this company with the Union Oil Company of California, ft is stated that the two companies have agreed to incorporate an Australian company, to be known ns the Atlantic Union Oil Company, Ltd., tor the purpose of consolidation and expansion of their respective businesses in Australia and New Zealand. Mr Vandyke said that arrangements arc now under way for the erection of modern ocean terminals at Sydney, Melbourne, Auckland, and Wellington. Internal distribution will be made from these terminals by tank car, tank wagon, and service stations, paralleling to a large degree the methods of delivery employed in the United States. The question of refinery and manufacture of petroleum products, however, is not under consideration. It is purely a mercantile effort. The Atlantic Union Company will equally he owned by the Atlantic Refining_ Company and Union Oil Company, which are in progress of incorporation in Delaware for the sole purpose of handling the financial affairs of the new Australian company. Those plans will have no effect upon any other business activity of either of'the above companies.