RUSSIAN OIL
COMPANIES IN DISPUTE. NO AMERICAN INTERFERENCE. (Pres* Association—By Telegraph—Copyright.) WASHINGTON, January 16. Mr H. C. Hoover (Secretary of Commerce) declared that the Commerce Department did not intend to interfere in the reported dispute between the Standard Oil and the Royal Dutch and Shell Companies.—A. and N.Z. Cable. A cablegram from New York on November 22 read as follows: —Despite the protest of the Royal Dutch Shell group, the Standard Oil Company, New York, has entered into a new contract for the purchase of a large quantity of Russian oil products to supply its markets in the Near East. The contract calls for the delivery of a minimum of 360,000 tons of oil over a period of six years, and is the third agreement which the Standard Company has made since last December. It is understood the Standard Company’s purchases of Russian oil will amount to 1,400,000 tons yearly during the life of the three contracts. The opinion here is that the new agreement foreshadows a bitter contest for supremacy in foreign oil markets.
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Bibliographic details
Otago Daily Times, Issue 20309, 18 January 1928, Page 6
Word Count
175RUSSIAN OIL Otago Daily Times, Issue 20309, 18 January 1928, Page 6
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