OMPANY MEETING
SHELL" TRANSPORT AND TRADING
AMPLE OIL RESERVES HE annual general meeting of the " Shell " Transport and Trading mpany, Limited, was held, on July loth, in London. The Rt. Hon. Viscount Bearsted, M.C. (the chairman), said that last ear he had mentioned the apprehension in the United States about e position of its crude oil reserves. He did not feel unduly pessimistic bout the position in the United States and there was obviously no need apprehension there in view of the strong world position. Develop- ents in crude oil production in the Persian Gulf, in Saudi Arabia, and the Middle East generally, all pointed to enormously increased world 1 reserves far beyond those of which they had knowledge at the eginning of the war and ample for all foreseeable requirements. He egarded it as fortunate that the Governments of Great Britain and the 'nited States had taken preliminary steps towards the ultimate con- ummation of an agreement for the orderly development of crude oil roduction. There had been a prodigious use of petroleum during the ar years and only by some such international co-ordination did he believe hat the consumer of petroleum products could be assured of the free w of such supplies in ample quantities over the longest possible term. In his statement he had referred to the merchant aircraft-carriers, a rge number of which were furnished by the conversion of their larger ankers, which, in fact, were the only tankers converted for that purpose. ey might properly be proud of their fleet as, wherever operations took ace, one could be reasonably certain of finding Shell tankers per- arming their essential work.
Dealing with research activities, he referred to the success they had thieved in connection with jet propulsion of aeroplanes, the inhibitor ocess to prevent internal corrosion of pipelines, and said that the chievements of the Petroleum Division of the Ministry of Fuel and ower was the sum of a most remarkable combination of effort. The rt played by the company had been outstanding in connection with do and other things.
Once more he would emphasise that from their earliest days research d been a very special feature in their manifold activities. There was o branch in which they had been content to rest upon their laurels and ere was no advance in scientific knowledge which had not been anslated into practical effect.
The report was adopted.
Previous page
