Show Rus dussias ISussi sias ils petroleum production russian petroleum threatens to take t the I 1 11 P place lace of tile the american article in european markets owing to its extreme chea cheapness P the russian wells yield immense quantities of oil the great fountain having spouted tons 01 of gallons before it was capped this oil was worth alm almost a but at baku most of it was lost for want of storage accommodation the cost of boring the well ivell was about 1500 last year the production of crude petroleum at baku exceeded gallons or barrels it could as easily have been ton ten or twenty times that amount as there is practically no limit to the supply millions ions of gallons running away in waste into the caspian sea for want of buyers at baku firms have refineries wh which ich last year produced nearly gallons of refined petroleum since 1878 russia has bas invested remuneratively ively y over in oil steamers tor for the caspian sm sea in 1870 there was only one steamer in the sea today to day there are 1000 the refineries kee keep p sc much ahead bf the developing trans transport port that the best ref refined ined petroleum or lamp oil is sold ht it three far things a gallon galion at baku at london the wholesale trice price of the american article is about sixpence per gallon the exports from baku along the bagoum railway in 1885 comprised gallons refined petroleum gallons lubricating oil and gallons of crude oil bagoum is about the same distance from london as is new york san EYan francisco cisco chronicle |