RUSSIAN OIL

Greymouth Evening Star, 15 August 1933, Page 5

RUSSIAN OIL

BIG COMPANIES’ REFUSAL. [by cable—press assn.—copyright.] LONDON, August 14. The “Daily Telegraph” says: The Shell and the Standard Oil Companies have decided not. to deal in Russian oil, either directly or indirectly. This is a heavy blow to the Russian scheme to obtain large credits in America in order to fill the depleted Soviet Treasury. The Shell Coy. and the Standard Oil Company, after negotiations, decided that it would be useless to look to Moscow for a reasonable agreement. This decision will entail the loss to the Russian Government of at least 1'5,000,000 annually. Their trouble is increased by the fact that the Soviet oil industry during the last six months has experienced a virtual breakdown. The Government has been forced to release a number of oil specialists from prison to send them to the distressed oilfields. CARGO AT LYTTELTON. CHRISTCHURCH. August 14. The oil tanker “Irini” from Constantinople, berthed at Lyttelton at 1.20 pan. to-day. She has Russian oil aboard. The vessel arrived off the heads yesterday evening. She anchored outside until minor engine repairs were effected. POLICE GUARD VESSEL. CHRISTCHURCH, August 15. For reasons unknown, a police guard has been maintained over the Greek oil tanker Irini, since her arrival at Lyttelton yesterday morning, until the time of departure to Dunedin, to-day. All visitors to the vessel \vere held up, even while the work of unloading Russian petrol proceeded. One official suggested that the vessel was being protected against outside interference, but he did not state the source. The police, however, were taking no chances. Five men remained on guard all night, parading the wharf in uniform.