Petroleum Industry In 1923 In Europe, Asia, And Africa

AS STATED last year, in a similar review by David White and the author, any review of the petroleum industry purporting to cover such a wide field can only mention the principal facts. This incompleteness is necessitated not only by the limitations of space, but by the delay in receiving detailed information. The principal feature of the year, in Europe, was a material increase in the consumption of petroleum products, and a notable decline in prices. Although there we relative increases in production in Roumania and Poland, the total did not by any means keep pace with the increase in consumption, which, as usual, was supplied "from America and both the Near and Far East. The interest in Asiatic production, as usual, centers around the Persian fields, which, according to the annual report of the Anglo-Persian Oil Co. published at the close of last year, it was estimated would amount to 3,775,000 tons by the close of the fiscal year, March 1, 1924. Russia also showed an increase in production. In Africa there was nothing of outstanding interest in production, although Egypt showed a decrease and the goverment refinery at Port Said was closed.