OIL WAR

Nelson Evening Mail, Volume LXI, 27 July 1927, Page 7

OIL WAR

AMERICAN COMPANIES ATTACKED

IN PURCHASE OF RUMANIAN Oil

(By Electric Telegraph -Copy right) 'Australian & N.Z. Cable Awaoeiatlori)

(Received 27th July, 9.15 a.m.) NEW YORK, 26th July

Tito warfare which has developed among the world's large oil companies over "the question of dealing with the Soviet was intensified when Sir Henri Deteruing, managing director of the Royal Dutch and Shell group, issued a statement through the New York representative attacking the policy of the Standard Oil Co., New York, and the Vacuum Oil Company, which have contracts under which they purchase oil from Russia, Standard Oil of New Jersey recently announced that would not deal with the Soviet, and the Royal Dutch and Shell groups had agreed to a joint policy of not dealing with Russia until the oil owners were compensated. Sir Henry Deterding declared that the purchase of Russian oil by American companies was not only contrary to the best interests of humanity and trade honesty, but was bound to lead to the replacement of American oil, of which there was at present large over production. Sir Walter Teaglo, president of Standard Oil of New Jersey, sailed for Europe to persuade Sir Henry Deterding to abandon any plans for retaliation, which it is believed might mean an invasion of American territory.