PETROLEUM PRODUCTION

Taranaki Daily News, 9 May 1930, Page 7

PETROLEUM PRODUCTION

LAST YEAR’S RECORD. PERSION OUTPUT INCREASING. The Persian output of crude petroleum now ranks fourth (a position hitherto held by Mexico) among the largest annual contributions to the world’s total supply. The aggregate production in 1929 of all countries was 1,488,604,000 barrels, a.i increase of 1f.,4 per cent, over 1928 and of 17.9 per cent, over 1927. The United States produced 1,006,000,000 barrels, a gain of 11.6 per cent, over 1928, and a new high record. Outside the United States, production aggregated 482,604,000 barrels, an increase of 14 per cent.

America thus accounted for 67.6 per cent of the world’s total output, against 68 per cent, in 1928 and 71.4 per cent, in 1927, while foreign countries accounted for 32.4 per cent., against 32 per cent, in the preceding year and 28.6 per cent, in the preceding season. Production of the principal oil countries in the past two years is shown in official statistics as follows: —

Production in Venezuela last year showed an increase of 29.6 per cent, on the preceding year, and was more than double the total produced in 1927. Venezuela accounted for 9.2 per cent, of the world’s output, compared with 8 per cent, in 1928, and only 5 per cent, in 1927.

Russia again ranked third with an output of 103,000,000 barrels, a gain of 21.6 per cent, over 1928. ' . ' Mexico’s production showed a decline of 10.8 per cent, from the preceding year, despite a gain in production of light oil as the result of new developments at Tonala, Isthmus of Tehuantepec.

Mexico shows a drop of 30.3 per cent, since 1927, largely owing to incursions of salt water in the leading coastal fields. Gains over 1928 were shown in Rumania, the Netherlands, East Indies, Colombia, Peru and most of the other minor producing countries, but there have been losses in India, Argentina, Poland, Czecho-slovakia and Italy.

1929. Barrels. 1928. Barrels. United States 1,000,000,009 901,474,000 Venezuela, . 137,000,000 105,749,000 Russia .... 103,000,000 84,704,000 Persia - 45,250,000 43,461,000 Mexico ..... 44.689,000 50,151,000 Dutch Indies . 37,924,000 32,118,000 Rumania .... 34,930,000 30,773,000 Colombia .... 20,385,000 19,897,0’0 Peru 13,404,000 12,006,000 Trinidad 8,810,000 7,684,000 Argentina 8,800,0.00 9,070,000 British India . 8,470,000 8,741,000 Sarawak .... 5,277,000 5,223,000 Poland .... 4,953,000 5,493,000 Japan ...... 2,010,000 1 944 000 Egypt 1,860,000 1 842 000 Ecuador ‘ 1,351,000 1,084,000 Sakhalin. - ., 1,160,000 677,000 Canada «•... 1,123,000 624,000 Irak 798,000 713 000 Germany .... 711,000 630,000 France .... 516,000 512,000