New Oilfield In Iraq May Boost Sterling Output
(10 a.m.) LONDON, March 30. Sterling area petrol supplies are likely to be boosted 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 the oil strike by a Britishowned 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 nort will be developed by the company in the vicinity of Fao, about 60 miles from the field at the mouth of Shati El Arab river. Fao is now a pilot, quarantine and dredging station for the river which is the approach to Basra. Shipping circles said that at present at every tide there are at least five oil tankers wasting time to go up river to Abadan and the same number waiting to leave apart from general cargo ships. They say that Fao could be developed as a port.
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Bibliographic details
Gisborne Herald, Volume LXXVII, Issue 23217, 31 March 1950, Page 5
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177New Oilfield In Iraq May Boost Sterling Output Gisborne Herald, Volume LXXVII, Issue 23217, 31 March 1950, Page 5
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