OIL INTERESTS

Evening Star, Issue 19779, 1 February 1928, Page 5

OIL INTERESTS

AGREEMENT EXPECTED Piess Association —By Telegraph-—Copyright LONDON, January 31. While no official statement has been made, oil circles here consider the announcement of the departure of Sir Henri Deterding (director-general of the Royal Dutch Petroleum Company) for America as indicating an early settlement of the oil war. The Standard Oil Company officials decline to comment. [A cablegram from New York cm November 22 read as follows:—Despite the protest of the Royal Dutch Shell group, the Standard Oil Company, New York, has entered into a new contract for the purchase of a large quantity of Russian oil products to supply its markets in tho Near East. The contract calls for the delivery _ of a minimum of 360,000 tons yff oil ovei a period of six- years, and is the third agreement which the Standard Company lias made since last December. ]t* is understood 1 lint> tho fetaiidaid Compauvhs purchases of Iliitssian oil will amount to 1,400,000 tons yearly during the life of the three contracts. 'The opinion hero is that the new agreement toreshadows a. _ bittei contest for supremacy in foreign oil markets.]