Page 505 - Bahrain Gov Annual Reports (I)_Neat

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4. Oil. Ttfo trips have already been
made by the oil tanker 3.3. "Rbeeri" and she
is now on her way beck to Bahrain from the
far East tc take another cargo of oil. I an

informed that she will carry out two more
trips at least in 1354. Each shipment of' oil
produces approximately r$ 50,000/- in royalty
fer the Bahrain eovernnent. in estimating

the revenue from oil I include the amount
which is now owing to the government on the
two shipments which have^ready been made
and 1 have assumed that there will be two
more shipments only during 1354. I think

it is most probable that tne number of ship­
ments will exceed my expectations.
5. When the Bahrain Petroleum Company
obtained an extension cf the Prospecting

License in 1352 an agreement was made between
the Company and the Government according to
which the Company lent to the Bahrain govern­
ment Rs 50,000/-. This loan v/as tc be recovered

from future royalties by instalments, The pro-
portion of the refund due from the Bahrain
government on the amount of royalty which I
have estimated in the Budget is Rs 35,000/-,

the remaining Rs 150Q0/- will be recovered when
more royalty payments are made.
6. Other revenue. I have assessed the
remaining sources of revenue at a total of
Rs 55,000/- which is less than what they were

expected to produce last year, The actual
receipts during 1353 failed to reach the esti-
mate of the Budget. fhere was a disappointing