VAST EXPANSION

Otago Daily Times, Issue 26847, 11 August 1948, Page 4

VAST EXPANSION

PETROLEUM PRODUCTS activity in many places p.A. AUCKLAND, Aug. 10 No one in New Zealand or Australia would have to make, any important change in his way of living because ot lack of oil products even though many consumers would have to accep.. smaller quantities than they would like, said Mr E. A. Jones, Australian director of the Vacuum Oil Company. Ltd who arrived at Auckland by air to-day. He said vast expansion programmes for production and refining capacity were progressively contributlng more petroleum products to satisfy the demand. .■ . , The world consumption of petroleum had increased by more tljan 50 per cent since 1938 to the huge annual total of 400.000,000 tons, he said. There were 30 per cent, more refineries working now than beftfrc the war and the oil industry was engaged in a programme which would involve the expenditure in America alone of 4.000.000.000 dollars. Great sums were also being spent in the Middle East and the Netherlands East Indies to increase production and refining capacity.