Page 50 - Records of Bahrain (5) (ii)_Neat

372 Records of Bahrain

-3-

4. Oil. TVo tripa havo alroady been
made by the oil tanker 3.a. "Rhusm" and she
ia new on her way baok to Bahrain from the
far East to take another cargo of oil. I am
informed that she will oarry out two more
trips at leaot in 1354. Eaoh ahipment of oil
produooa approximately Rs 50,000/- in royalty
for the Bahrain government, In eatimating
the revenue from oil I inolude the amount
which ia now owing to the government on the
two shipments whioh have^oady been made

and I have aaaumod that thore will bo two
raoro shipments only during 1354. I think
it is moat probable that the number of ship­
ments will exceed my expeotationo.
5. When the Bahrain Petroleum Company
obtained an extension of the Prospeoting
Lioense in 1352 an agreement was made between
the Company and the Government aooording to
whioh the Company lent to the Bahrain govern­
ment Ri 50,000/-. This loan was to be recovered
from future royalties by instalments. The pro­
portion of the refund due from the Bahrain
government on the amount of royalty whioh I
have estimated in the Budget is'Bs 35,000/-,
the remaining Ri 15000/- will be recovered when
more royalty payments are made*
6. Other revenue. I have asaeaud the

remaining souroes of revenue at;* total of
Rs 55,000/- which is less than whit!they were

I expeoted to produce last year. «/ aotual
reooipts during 1353 failed .to ijealoh the eaii-
: mate of the Budg.t. There waa.'^dieappoiating
;
I