AUSTRALIAN OIL
INDUSTRY’S CRITICAL YEAR
SYDNEY, December 3. '
The effect of severe competition, forcing the price of motor spirit in Australia to unprecedented low levels is shown in the accounts of Commonwealth Oil Refineries. Limited, for the year ended June 30. The company suffered a net loss of £85.475, compared with a net profit of £21,544 in 1933. The directors state that the year has been the most difficult and critical in the history of the oil industry in Australia. Over half the shares in the company are held by the Commonwealth Government, and the remainder by the Anglo-Persian Oil Company.
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Hokitika Guardian, 7 December 1934, Page 6
Word Count
101AUSTRALIAN OIL Hokitika Guardian, 7 December 1934, Page 6
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