OIL SUPPLIES

Wanganui Herald, Volume LIII, Issue 160711, 26 July 1920, Page 9

OIL SUPPLIES

FRANCO-BRUTISH AGREEMENT. Received July 26, 10.30 a.m. Reuter. LONDON, July 24. The Franco-British oil agreement provides that in Roumania the two Governments will support the respective Nationals with a view to the acquisition ot the former German oil interests and other concessions, all shares in the foremer being half French and half British. In Russia the two Governments will support the respective Nationals in acquiring concessions. In Mesopotamia, France is to receive 25 per cent, of tha Government output at market rates, ot 25 per cent .of shares in private companies. The agreement also provides fot the reconstruction of pipe lines and railways' for the transportation of the oil through the French sphere to the Mediterranean. In North Africa and othet French colonies, France will give facilities to the Franco-British groups, Britain giving corresponding advantages in British Crown colonies.