STERLING FOR OIL
WELLINGTON, This Day (P.A.). —The New Zealand Government had acted in conjunction with the United Kingdom Government in the matter of the substitution of sterling oil for oil from dollar sources, said the Minister of Industries and Commerce, Mr Bowden, today, commenting on a number of published statements concerning sterling oil. ■ The Minister said the- negotiations had been very successful and it was due to American oil interests to say that they had shown great co-opera-,tion. Resulting from the arrangement, the six companies operating in New Zealand, which previously obtained motor spirit and fuel oil from dollardesignated sources, had been able so to reduce the dollai’ cost involved that it was true to say that all the fuel oil and motor spirits imported into New Zealand in future would be paid for substantially in sterling, said Mr Bowden.
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Greymouth Evening Star, 28 July 1950, Page 5
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141STERLING FOR OIL Greymouth Evening Star, 28 July 1950, Page 5
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