CO129-541-12 Application by Soviet Oil Company Union Petroleum Trust for permission to erect an oil tank... 14-11-1932 - 28-3-1933 — Page 35

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to erect the tank. It is regretted that any misunderstanding

should have arisen in regard to this matter. The information

contained in the letter from this Department of the 22nd

November was furnished by the Asiatic Petroleum Company.

The Managing Director of this Company (Mr. Andrew Agnew)

in an interview with the Director of the Petroleum Department

granted since that letter was written has expressed his regret

that there should have been any misunderstanding on this point.

But he went on to say that his Company viewed with great concern

the granting of any special facilities in Hong-Kong to the

Soviet Oil Organisation. He considers that there is at present

no prospect of any substantial increase in the trade in

petroleum products in this market, and that the trade which the

Soviet Organisation may obtain can only be secured at the

expense of the trade of the oil companies already established

there, a large share of which is held by the Asiatic Petroleum

Company. He recognises that, if the Soviet Organisation is not

able to establish itself in Hong-Kong, it will probably endeavour