The Mining and smelting magazine, Volume 5, Current review, p. 173, Wallachian Petroleum Company

Posted on September 16th, 2009 by admin and filed under Uncategorized

The Mining and smelting magazine, Volume 5, 1864, Current review, p. 173

WALLACHIA. — A new company has been formed called the Wallachian Petroleum Company which has for its object the importation of petroleum from a new source which is stated to be fully equal to the Pennsylvanian. The project has been formed by a reconstruction of the Earth Oil Import Company (Limited) The advantage of the efficient transport service organised by the old company will thus be secured together with all the grants and concessions It is mentioned that “the grantees and contractors are under contract with the company for fifteen years to deliver the oil at Ibraila at 5l. per ton in consideration of their sharing with the company in equal moieties the nett profits derived from the sale on this side — an arrangement calculated to insure a large profit to the shareholders and which will prevent the necessity on the part of this company of any but a very small outlay in plant” and that the supply of oil will be “regular and almost unlimited.” The capital is 120,000l. in 12,000 shares of 10l. each, the bulk of which has already been taken.

Posted on Wednesday, September 16th, 2009 at 6:36 PM and is filed under Uncategorized. RSS 2.0 feed.