Abstract

The governments of 2 more countries of the Far East, Indonesia and Burma, have taken steps in 1960 toward nationalization of petroleum production. The governments of Japan and Formosa have virtual monopolies on oil production in these countries, and of course the U.S.S.R. and Communist China have absolute control over their petroleum industries. Japan and probably Communist China are the only areas in the Far East where new production has been obtained in appreciable amount although intensive exploration programs have been carried on in nearly all areas of the Far East possibly favorable for oil or gas accumulation. Exploration drilling has been increased in the Philippines with some encouraging results, but as yet commercial quantities of oil or gas have not been discovered. The total production of the Far East during 1960 was 233,439,089 bbls. of oil while during 1959, 221,652,407 bbls. were produced, a gain in 1960 of nearly 12 million bbls.

You do not currently have access to this article.