Word: arabian
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...prices with their takeovers of foreign oil companies and buy-back arrangements. Last week, for example, Kuwait's government approved an agreement to acquire 60% of the British Petroleum-Gulf Oil Corp. joint venture in that nation, and Saudi Arabia plans to renegotiate its agreements with the Arabian American Oil Co. Iran, a Moslem but non-Arab country, which nationalized its oil industry years ago, "does not engage in that," Amuzegar said. Still, Iran is an interested observer in such negotiations. Kuwait is now trying to boost the price of the oil it will sell back...
...Dutch nonetheless are puzzled by the Arabs' official retention of the embargo. Saudi Arabian Petroleum Minister Ahmed Zaki Yamani has explained that the Dutch had not, like other European nations, supported the Arab demand for an Israeli withdrawal from all Arab territories. But the Dutch in fact signed a Common Market statement issued last November supporting United Nations Resolution 242, which calls for such a pullback. The Arabs may be officially maintaining the boycott not so much to punish the Dutch as to keep a sword of Damocles dangling over the international oil companies that have huge investments...
...pacesetter for Arab investment is likely to be the "First Arabian Corp.," an Arab version of First Boston Corp. that was organized by Roger Tamraz, Middle East representative of the U.S.investment firm of Kidder, Peabody. First Arabian will soon open offices on Park Avenue expressly to channel Arab funds into the U.S. Tamraz says that he plans to take over an American bank (one just below the big ten) on behalf of his clients, then bid for an industrial firm that he will not identify beyond saying that its brand name is a household word. He sees these moves...
Perhaps because its sun-blasted emptiness is so different from their cozily crowded, fog-shrouded island, the trackless desert has always attracted Englishmen. A straight line leads from Sir Richard Burton crossing the Arabian desert in 1853 and Lawrence of Arabia down to Geoffrey Moorhouse. Burton had a simple thirst for the exotic. Lawrence was a complex mystic. Moorhouse, who left Nouakchott, Mauritania, in October of 1972 heading east into the Sahara, is a fortyish ex-journalist. In challenging the desert, he was intent on confronting his own fears and what he took to be personal cowardice...
...Saud granted the Standard Oil Co. of California a 60-year, exclusive concession to 320,000 sq. mi. of desert. So huge were the oil reserves when finally discovered, and so large the investment needs, that SoCal could not exploit them alone. It took on co-venturers, forming the Arabian American...