Salt Lake Telegram | 1923-04-10 | Page 15 | Italy Seeking Mineral Oils

THE SA 1 ITAlY SEEKING MINERAL OILS Development of Lands Being Promoted ROME ROME April 10 Wildcatting for oil Is to become an established Italian ItalIan Italian Ital Ital- ian speculative e activity The Tho absence of ot any mineral oil oft production throughout the Italian peninsula has caused tho the government govern covern- overn- overn ment m t to consider m means ns for the discovery dis dis- discovery covery covelY of any oil deposits within within the borders A ministerial committee commit commit- tee headed by Premier Mussolini has been formed to promote proposals proposals pro pro- for tor tho the development of ot oil lands The Tho committee h has s already held several meetings Italy's n need d for tor her own oil and her absolute dependence on importation importation importation tation of ot oil from abroad has been ben given ghen weighty consideration b by f every ministry Tho The Importance o of ot oil especially e In time of ot war has urged itself upon the present gov gov- government with tho the result that thai the newly constituted ministerial oil committee Intends to give gUo all the encouragement and assistance possible possible pos pos- sible In the discovery of ot deposits The Tho committee Is expected by a a. system of ot subsidies and premiums to foster the formation of ot oil companies companies com com- to undertake drilling Little or nothing Is known of any oil on deposits deposits deposits de de- de- de posits In Italy at present Many df lit Italy's public men have const constantly constant constant- nt ly ii y contended that there are aro mineral deposits in In Inthe the tho volcanic strata and that among these deposits is s oil Meanwhile th the Na- Na an Italian development de development development de- de corporation has ha- already started negotiations for tor oil lands ands in Albania English and American companies also ve been negotiating ing with the tho Albanian government for tor oil concessions but as yet that government has concluded no contracts contracts contracts con con- tracts with foreign oil companies The Italian corporation expects through diplomatic channels to se secure secure secure se- se cure the consent of ot the Albanians to drill It has approached the ItalIan Italian Ital Ital- Italian ian government asking Its aid and protection In the development o of Albanian oil oU and requests the right to build tho the necessary oil oU stations in Barl Bart Brindisi and Venice