za.

Canada, Cuba, Hayti, Dominican Republic, Panama,

in as Argentine, Belgium and Possessions, Iran and

ts into the Sterling Area and its purchases of equipment n fact, however, there is a sterling element in all oil sold

NOTES

from Bahrein in respect of local operating costs. This offsets the gross dollar cost to the extent shown in IIIB 3 as the Bahrein dollar adjustment.

4. The figure for Hard Currency Royalty payments in 1949-50 include back payments for 1947 and 1948 to be made when the proposed new agreement of A.I.O.C. with the Iranian Government has been ratified.

$ million

1 States

-50 | 1953

II. American account III. Hard currencies

1948 1949-50 | 1953 1948 1949-50 | 1953

IV. Rest of World

1948 1949-50 1953 1948 1949-50| 1953

V. Rest of Sterling Area

VI. Total Dollar (=I. + II.)

1948 1949-50 | 1953

VII. Total Other cies (=III.+IV.+V.)

1948 1949-50| 1953

VIII. Total All cies (=VI.+VII.)

1948 1949-50| 1953

16

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153 169 36

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--463 ..... Page 409 of 662

-270-242

-250 -230

PASTERSTENJA SITANAY SEVEREST EXO TERRADOVEIF.

ca.

APPENDIX I

Pм OIL BALANCE OF PAYMENTS 1948, 1949-50, 1953

Valued at April 1949 prices

Canada, Cuba, Hayti, Dominican Republic, Panama,

n as Argentine, Belgium and Possessions, Iran and

ts into the Sterling Area and its purchases of equipment n fact, however, there is a sterling element in all oil sold

NOTES

1954

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