Mexico to Develop Its Oil Industry
MEXICO CITY, April 12. Development of Mexico’s lagging petroleum industry will be encouraged in every way by the Department of Industry, an official announcement reveals. The industry department programme includes amending the present oil law so as to grant concerns which have secured exploration permits whenever those companies discover oil, the rushing through of all pending applications for exploitation permits and support of any movement tending to pcrsuJQtc the Treasury Department to reduce both internal and export taxation .on petroleum. The programme also provides for establishment of a semi-official oil company in which the Government would hold 50 per cent, of the shares, to bo paid for by the nation’s oil lands, so that the Government m;|- supply its own petroleum needs and also regulate oil prices whenever necessary.
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Manawatu Times, Volume LV, Issue 6864, 21 May 1932, Page 7
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135Mexico to Develop Its Oil Industry Manawatu Times, Volume LV, Issue 6864, 21 May 1932, Page 7
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