OIL REFINING INDUSTRY

New Zealand Herald, Volume LXXI, Issue 21716, 3 February 1934, Page 11

OIL REFINING INDUSTRY

WEST INDIES CONDITIONS PROSPEROUS STATE OF MEXICO The effects of the world-wide depression on conditions in the West Indies and Mexico were described by Mr. R. W. F. Newton, manager of the Eagle Petroleum Company of Aruoa, near Curacao. Mr. Isewton is a Zealander who has been for 14 years in Mexico and for six in the West Indies in the service of oil refining companies, and is on a holiday visit to New Zealand. He arrived by the Ruahine yesterday from Panama. "The West Indies are just beginning to feel the effects of the unstable financial conditions in other parts olr the world," said Mr. Newton. ''This is largely the result of the fact that one of the chief industries of that part of the world is connected with oil refining. No fewer than 20,000 of the inhabitants are directly employed by the oil companies." The chief sources of supply were in Venezuela, where in Lake Maracaibo the derricks were to be seen even out in the water. It was found to be cheaper to refine the crude oil close to the source of supply, and the monthly output amounted to somo 42,000 barrels. This was sent to South Africa, Europe and the United States. Conditions in Mexico .were described by Mr. Newton as being quite flourishing. Considerable trouble had been caused by the policy of the American Government of expelling all Mexican subjects, and it had taken some time to reabsorb them in industry in the country. Matters were helped by the fact that there was at the present time a stable Government, and also that the Mexican had the gift of {jetting back to the land and looking after himself in timed of stress. T rheir needs were simple and they wore much nearer to the land than many of the peoples who found readjustment difficult. Mining industries had improved in recent months, but the oil industry was one that had helped to keep tho financial tone of the country on a sound basis.