Word: anglo-iranian
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...Security Council, boldly informed by Mossadeq that Iran's dispute with the Anglo-Iranian Oil Co. was none of the U.N.'s business, lamely ducked the issue. It passed the question of the U.N.'s authority back to the International Court of Justice at The Hague. The Court probably won't get around to deciding until mid-January; in the meantime, the Council wanly hoped that Britain and Iran would resume negotiations on their own. Said Britain's Sir Gladwyn Jebb: "... A most serious precedent...
...Profits. Creole is not only a giant producer. It is also a pioneer in the sensitive field of international public relations. Like Britain's ill-fated Anglo-Iranian Oil Co., it is a foreign-owned enterprise within a technically backward state, vulnerable to the 20th Century's upsurge of nationalism. It has met the danger by a policy of 1) equality with Venezuela in profits and 2) concern for Venezuelan personnel...
...pronounced in good health by U.S. doctors. After that, he quietly moved himself to the Ritz Tower. He was in New York to tell the U.N. Security Council (and a nationwide TV audience) that it had no business interfering with Iran's decision to kick out the Anglo-Iranian Oil Co. State Department men, noting that he had brought along his oil experts, thought the aged Premier might be willing to discuss some other arrangement whereby the West would still get the oil. The British thought it would be tough going. Said one: "Impossible type, you know...
...well that when he retired at 80 his empire (still 41% owned by the Mellon family) stretched from Venezuela, where only Standard's (NJ.) Creole and Royal Dutch Shell outrank Gulf's Mene Grande, to Kuwait on the Persian Gulf, where Gulf and Britain's Anglo-Iranian share more than 11 billion bbls. of oil reserves. Under him, Gulf got the prospecting rights to all of Denmark, and his global marketing and producing apparatus embraced subsidiaries through most of Europe, Africa and Brazil, plus proven U.S. reserves of 1.3 billion bbls...
...Gulf's market has expanded, so have its hazards. Gulf's partner, Anglo-Iranian, has already lost its great Abadan refinery (see FOREIGN NEWS), and the two are boosting their Kuwait production as rapidly as possible to help meet Europe's oil deficit. Political upheavals are not the only changes. Soaring costs have made the hunt for oil enormously expensive. Recently, Swensrud launched Gulf on the biggest wildcat hunt in the U.S., exploring 800,000 acres leased from the State of Mississippi.* Gulf may well sink millions without result. But Swensrud is not perturbed. Gulf, a pioneer...