PETROLEUM IN CHILE
Page 12
If you've noticed an error in this article please click here to report it so we can fix it.
According to a Department of Overeas Trade report, dated,Deeember, 1921, in the industrial and economic situation in Chile, considerable activity has been shown by Chilian syndicates, holders of
B petroleum-bearing lands in olivia and
Argentina. • Twelve million pesos, $1,500,000 (American), were paid in cash for the Santa Cruz, Poderosa, Lagunillas and La Blanca • concessions in Bolivia, held by a Chilian group, and they are stated to have been resold immediately afterwards to the Standard Oil Co.. who, in November, 1921. formed in La Paz a subsidiary company called the Standard Oil Co. of Bolivia with a capital of $5,000,000. American companies have shown considerable interest, and ceminissions have visited the country. The British Controlled Oil.
fields, Ltd.'s representative has also visited Chile.
Shale which exists in large quantities near LOnquimay, Chile, has been the subjeet of much local interest. One local British firm sent a geologist and an engineer to the region where they made preliminary investigations, the results of which areistated to have bees perfectly satisfactory. Owing to the financial situation, however, nothing further has been done.
Chilians hold a large number of concessions on petroleum-hearing lands, covering many millions of acres, in the Argentine and Bolivia, and are taking active steps to sell their various holdings to foreign capitalists. Particulars can be had on application to the Department of Overseas Trade
The Anglo-Mexican Petroleum Co.,' Ltd., has coMpleted its installationat Sulinas, four miles north of Valparaiso. The tank capacity at the depot is 10,000 tens fuel oil and 5,000 tons each of Diesel oil, petrol and kerosene. The latter will laa imported in bulk, and the depot has been equipped for making the. cans and cases for distribution, avoiding high freights, damage and loss in transit. Similar depots have been constructed at Iquique and Antofagasta. The International Petroleum Co. and the Union Oil Co. have tanks at Iquique, • Antofagasta, Toeopilla, Taltal.and "iTalparaiso for storage of fuel and Diesel oils, so that the coasts on which these towns are located are now well provided for in the matter of supplies, which will tend to improve the conditions.