PERSIAN OIL

New Zealand Herald, Volume LXIX, Issue 21358, 6 December 1932, Page 9

PERSIAN OIL

. DIFFICULT NEGOTIATIONS FUTURE OF THE CONCESSIONS LONDON, Deo. 4 The negotiations between the AngloPersian Oil Company and the Persian Government regarding the cancellation of the concessions by the latter are likely to be protracted and difficult. The company's royalty is Persia's chief source of revenue, yet it lias fluctuated like a fever chart during the past 10 years, ranging from £1,410,000 to £130,000. Persian dissatisfaction has increased by the decline in sterling, involving heavy losses in Persia's balances kept in London as currency reserve. Persia wants terms similar to those of Irak, where tlio Government- is assured of a- minimum annual royalty even if the oilfields are undeveloped.

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