OIL: Standard Makes Another Deal

U.S. oil interests last week bought another pile of chips in the game to exploit the rich oil pools in the Middle East. Standard Oil Co. (N.J.) and Socony-Vacuum Oil Co. made a deal to buy "substantial quantities" of Persian oil from the British Government's Anglo-Iranian Oil Co. This deal came soon after Jersey and Socony had decided to acquire 40% of the Arabian-American Oil Co.'s vast concessions in Saudi Arabia (TIME, Dec. 23) for some $250,000,000.

The Pipelines. The agreement with the British company may also cost Jersey and Socony big money. Anglo-Iranian tentatively plans to build a new pipeline...

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