Word: arabian
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...foundation of the new plan is a Saudi Arabian government take of $10.12 on the average barrel of Arabi an light crude shipped out of the port of Ras Tanura; market prices and government revenues on other grades from other countries will be keyed to that figure. Buyers of oil from Saudi Arabia, Qatar and the United Arab Emirates will pay no more than now; those countries, in effect, went up to the new prices in November. But buyers of crude from the other ten OPEC nations, including Iran, Kuwait and Venezuela, will pay to the governments of those nations...
...price increases forced by the OPEC governments. During 1973, they quadrupled the posted price of oil, and they have not changed it since the start of 1974. But this year they have sharply raised equity and buy-back prices. The Saudi government's take of $10.12 on Arabian light shipped out of Ras Tanura, for instance, has risen about 27% this year, though posted prices have been unchanged (see chart); since October 1973, the take has multiplied not four, but five times...
...convinced that these teeth belonged to a full-fledged Homo, who probably used them to eat meat, which he obtained by "using tools, possibly bones, to kill animals." Furthermore, since there is recent geological evidence that Ethiopia's Awash Valley may once have been part of the Arabian Peninsula. Johanson ventures an even more imaginative theory: the cradle of man may be Arabia, not Africa...
...Standard Oil of California. Sixty percent belongs to the Saudi government. The Aramco companies must ante up taxes and royalties on their share, calculated on the basis of a theoretical "posted price." It is this posted price that the Saudis reduced-from $11.65 to $11.25 per bbl. for its Arabian light crude. But at the same time, they sharply raised the taxes and royalties...
Lost Profit. The reason is that unless Aramco raises its prices to those customers, it could lose all the profit that Aramco companies now collect on Arabian light crude. Exxon, one of Aramco's owners, estimates its own profit at 34? per bbl. But if Aramco has to pay 94.8% of the posted price as well as the higher taxes and royalties, its costs per barrel could jump as high as 55?, to about $10.35. At a meeting of security analysts in Manhattan last week, Exxon Chairman J. Kenneth Jamieson said he was "somewhat mystified" by the impact...