Page 127 - Records of Bahrain (6)_Neat

Revision oj royalties 115
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llli* Uigluiouo x*oquontii your attention lo invited to the

following facto.
15. The prouont royalty in Hahrnin is Hi 3/0 por
toil corresponding to shillings D/3 por ton or, uppro-
xiiuotoly, oonto por bnrrol, Tlui proposed royalty

of lij 10/- corresponds to Ubllllngs 10/- por ton or to
approximately 274 oonto por burrol. It lo difficult
to unite precise compnrluono botwoen tho forogoiug figures
and tho payments made by Oil Companion oluowharo for
corresponding righto, bacuuso olrouiautauocs uro different
and tho terms defining paymouto are not tho oamo. It iu

well known howover thut tho two longest ostublishod pro­
ducing couceusionu in thlu rollon, in addition to Buhruln,
uuuoly tho Anglo Iranian oil Company and tho Iran petro­
leum Company uro now negotiating revisions of thoir

royulty toriau. Aooordlug to authentic roporto neither
tho Anglo Iranian oil Company nor tho Iraq petroleum
Company have yot ugroed upon now torus but it in known
that the Anglo Iranian Ull Company have mudo an offer to
the Uovonuaont of Irun which in oquul to to Shillings 16/4°
por ton, which lo approximately 32 enutu por barrel, banod

upou 1V4U figures or 40 cento, olnoo devaluation, cud thlu
offor wuu not uocoptod by tho Iranian parliament. Tho
terwu of recently acquired conceuaionu, under whloh no
oil hull yet been produood, are of iutereut chiefly an an
indication of tho present Judgment of tho oil industry
au to tha valuo of ouch oonoousions in this region.

Accordlug to report the principal consideration in the
recent qutur off-shore concession was o ttOjl oil royalty
# ftolU *
'( which even with n crude oil prloe uo low as (10 couts
'r 1,01‘ barroi would equal the royulty which iu now roquoeted