Items of Interest

The Argentine minister of agriculture is about to present for congressional approval a project providing for the issuing of 16,000,000 pesos in bonds to be used in the exploitation of the Comodoro Rivadavia oil fields. The bonds are to be negotiated locally, and the money is to be utilized in necessary extensions and machinery and in purchase of two more oil-tank steamers for conveying petroleum to the city of Buenos Ayres, where the chief consuming market is found. The oil fields as now exploited by the Argentine Government are located in the territory of Chubut, where a reserve of 5000 hectares has been set aside for this purpose.

Under a law enacted in 1910, a general board for the supervision and administration of the oil fields was created. Since the board took charge of the work, twenty-five wells have been bored, in all of which petroleum and petrolific gases were found. Comparing the production per well per day with the Russian fields of Grosny, it is found that the Argentine wells produce 20 tons per day for the old wells, and 13 tons per day for the new wells, whereas the Grosny wells produced only 12.50 tons for the old wells, and 6.31 for wells in course of construction. The average yield of the wells in California, where the yield is richest, according to a recent report from the United States, does not exceed three tons per well per day.

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The Mediator
August 19, 1916
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