Page 231 - Records of Bahrain (7) (ii)_Neat

Petroleum affairs 621
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from crudo oil operations, Tho profit will be the
difference botween tho fairly determined sulo3 prioo
of crudo oil and tho agroed upon costs of production.
During the discussions cortain figures have been men­
tioned, ono being Rs. 6/8 for the cost of production
per ton and Rst 4l/- por ton for the amount of profit,

A break-down of the figures amounting to these sums
will be required.
3. As compensation for tho company's right to
import oil, by soa or land, from outside the limits
of the state His Highness agrees that a payment should
he made by tho company of two annas for every barrel

of crude oil imported, Since the time when an arrange-
mont was agreed to by the Government enabling the com-
pany to import crude oil for refining in Bahrain con­
ditions have chungod. Tho quuntltlos of oil which
are being imported have increased so vustly and are so

much groator than unything that was envisaged whon the
arrungement was made that His Higlmess considers that
he has every Justification for demanding compensation
for imported crude oil.
4. Ills lliglinoss understands from tho conversations

that the company is willing to give a guarantee that
receipts from tho two annus per barrel payment on
importod crude oil, by land or by sea, will result in
a payment of not loss than 60 lulths of rupees per annum.
His Highness wishes tho guarantee to extend over the
next five yoars.
5. His Highness rogards it as essential that he

should have u guaranteed minimum annual payment to
provide for tho continued administration of hia state
undor cortain eventualities. This payment should be

not less than Rs, 210 lukhs por annum, including revenue