13 JULY 1944, Page 23

(A4PANY MEETING

" SHELL " TRANSPORT

MEETING ESSENTIAL NEEDS

tie annual general meeting of the "Shell" Transport and Trading Co., td., was held on July nth, in London, the Rt. Hon. Viscount Bearsted, .C. (the chairman) presiding.

The following is an extract from the chairman's statement circulated ith the accounts:—

The energies of the whole oil industry have been concentrated on eeting the needs of war. Many problems of supply and transport ve been faced and overcome. The completion of various pipeline ojects, the effective use of all inland waterways and the continued ovement of great quantities of oil by the railways together with the creased number of tankers available, have succeeded in meeting the sential requirements. Perhaps the most striking development in a year record achievement in the U.S.A. has been the vast increase in aviation uel production. No less than 16 per cent, of the total U.S.A. production this aviation fuel came from Shell plants and, of course our efforts this connexion are not confined to the U.S.A. Many of the echnical advances which have affected the quality and quantity of viation fuel production are the direct result of the research and skill f the Royal Dutch-Shell Group's scientists and technicians.

The trading results of Shell Union for 1943 compare very favourably 'di 1942. Cash resources are considerable and the company has set side special appropriations as provision for various war-time uncertainties d post-war contingencies. Turning to Venezuela, I mentioned last year, that a new petroleum w had been passed under which the Government would grant new ncessions with extended life in exchange for the existing concessions. ose companies in which we are interested applied for and have in ue course received such new concessions. Our producing operations other countries, particularly in Colombia, Egypt and Trinidad, are eveloping satisfactorily. While the year's work has necessarily been concentrated on the one k of meeting the needs of the Allied war machine throughout the odd, careful plans are being drawn up for the re-opening of our pro- cing, manufacturing and marketing activities in those many countries rrun by the enemy, in confident anticipation that their deliverance at hand.

The report was adopted.