Word: aramco
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Dates: during 1970-1979
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Nobody will be following OPEC'S maneuverings in Caracas this week more closely than the executives of a highly secretive oil Goliath that many people have never heard of. The Arabian American Oil Co., or Aramco, is the Delaware-based firm that is jointly owned by Exxon, Mobil, Texaco and Standard Oil Co. of California. Under a geographic concession nearly as large as the state of Oklahoma, Aramco pumps almost all the oil that flows from the Croesus-rich fields of Saudi Arabia. But in Riyadh and Washington alike, Aramco is now feeling heat...
...producer and distributor of some 9.5 million bbl. of crude per day, Aramco is by far the world's largest oil-producing corporation. It is not required to publish financial records because its stock is not publicly traded. But by expert estimates, during the past two years Aramco has paid between $800 million and $900 million annually to its four shareholders, as well as providing them with lucrative tax benefits...
...Aramco got a bonanza from the gap between the $18-per-bbl. price that Saudi Arabia had been charging, vs. the official cartel ceiling of $23.50. In unregulated markets outside the U.S., Aramco's proud parents have been able to sell their gasoline, heating oil and other products for high prices even though these fuels were made from the lowest-cost cartel crude. Largely as a result, third-quarter profits of Exxon, Mobil, Texaco and Socal jumped by anywhere from 73% to 211%. The revenue surge enraged the Saudis; Oil Minister Ahmed Zaki Yamani argues that Aramco...
...even in those cases--until Thursday --The Crimson would have allowed a de Beers Mining Company or an Aramco to take out a political advertisement, explaining its views without promoting its goods. Yet now, there is a new attitude--one which attacks an advertiser's philosophy rather than his actions, one which relies more on the vague notiom of "of- fensiveness" of the advertiser's thinking than on traditional criteria of the injustice of his or her deeds. It is the type of thinking that could easily be translated into a means of censoring unpopular beliefs, without having to face...
...with geopolitics than with campus politics. As announced by U.S.C. President John Hubbard, responsibility for the financial support of the center was to be vested in a three-man committee comprising a Los Angeles-area businessman, a U.S.C. dean and U.S.C. Professor Willard Beling, a former employee of Aramco (Arabian American Oil Co.) and holder of the Saudi-endowed King Faisal Chair of Islamic and Arab Studies. Beling would also become the center's director, and many of the faculty were fretting over his not being subject to the university's normal committee checks and balances in making...