Sterling area petrol supplies are likely to be increased by a new oil find by a British company in Iraq, according to the Daily Telegraph. Test drilling now taking place near Basra will show the extent of the resources of an oil strike by a British-owned petroleum company. Preliminary unofficial reports received in London say that the field is likely to be extensive. If the field is as large as hoped, then a new port will be developed by the company near Fao, about 60 miles from the field, at the mouth of the Shatt-al-Arab river. Fao is now a pilot, quarantine and dredging station for the river, which is the approach to Basra. —London, March 30.
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Greymouth Evening Star, 1 April 1950, Page 8
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117Untitled Greymouth Evening Star, 1 April 1950, Page 8
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