§ Mr. MACLEANasked the Secretary of State for Foreign Affairs to state the total amount of British capital invested in the Russian oil wells; whether the oil wells were purchased by the companies owning them or whether the companies were given concessions by the Czarist Government; and whether any price was paid for the concessions either in a lump sum or yearly?
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§ Mr. A. M. SAMUELNo official information is available as to the amount of British capital invested in the Russian oil industry. Oil wells originally are not usually purchased in any country as going concerns. The normal method of development in Russia under the Czarist régime was for a grant of a right to work the wells over an area subject to a rent or royalty. In most cases large sums of British money have been used to discover, sink and equip the wells before any oil was obtained.