Ogden Standard-Examiner | 1920-06-04 | Page 7 | Petroleum Rights in Venezuela Wanted

PETROLEUM RIGHTS IN VENEZUELA WANTED CARACAS, Venezuela, June 3. Much lntorest Is being evinced here at present In petroleum concessions In Venezuela. Representatives of the Standard Oil company, Gulf Refining company, Sun Oil company, Sinclair Oil &. Refining company, Maracalbo Fuel company and the British Controlled Con-trolled Oil FieldB, Ltd., Leonard Exploration Ex-ploration and Trlnldadlan companies aro now In Caracas. There Is actlvo competition for new concessions and many of theso aro before congress ior consideration. The govornmont's procedure is seeking seek-ing to forfeit tho concessions of sov-cral sov-cral British companies holding oil concessions con-cessions on nearly ton million acres in the states of Zulia and Falcon, for which thoy are paying the government govern-ment less than ?600 annually. Suit has already boon begun in the high federal court against tho Colon Development De-velopment company, Ltd., which holds a fifty-year concession on tho entire Colon district of the state of Zulla, or about 6,000,000 acres. Tho government Is seeking annulment annul-ment of tho concession on tho ground that but 2,000 acres havo been occupied occu-pied in tho thirteen years tho concession conces-sion has been in force, with nothing In operation. The government also alleges al-leges that the company has not compiled com-piled with Its contract obligation to pay tho govornment 16 cents an aero on lands of tho concession. Tho company com-pany is controlled by the Royal Dutch and Shell Interests.