Word: aramco
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...drill in their territory. At a meeting in Beirut of the Organization of Petroleum Exporting Countries (OPEC), which ended last week, the largest consortium of oil companies, the Arabian American Oil Co., bowed to the inevitable and agreed in principle to sell 20% of its ownership to Saudi Arabia. Aramco's decision will doubtless cause a gusher of further participation concessions, which will increase the economic and political power of the producing nations, most of them in the Middle East...
...which was accidentally broken seven weeks ago by a bulldozer. By denying entry to repair crews, the revolutionary Syrian government gains status among Arab extremists, while conservative Saudi Arabia, where the line originates, loses up to $500,000 a day. The line's owner, Arabian-American Oil Co. (Aramco), is seeking to charter tankers to move the crude...
...showed a year ago. Two recent attacks on fortified Israeli positions were led by officers-a rare event in the past. Earlier this month, in a well-planned strike, half a dozen guerrillas belonging to the Popular Front for the Liberation of Palestine (see box, page 42) blew up Aramco's trans-Arabian pipeline linking Saudi Arabia and Lebanon across 25 miles of formerly Syrian, now Israeli-held territory. The Israelis, working with bulldozers to form earthen ramparts, then burning off the oil, had a difficult time keeping 8,500 tons of spilled crude from polluting their major water...
...Palestine (PFLP), an outfit of perhaps 2,000 men that has taken credit for such spectaculars as the hijacking of one El Al airliner, the shooting up of two others, the bombing of the Tel Aviv central bus station and a Jerusalem supermarket, and the blowing up of the Aramco pipeline-its most recent exploit. It is led by left-leaning Dr. George Habash, 44, a Palestinian Arab from Lydda who long ago turned from medicine to the violent practice of Palestine politics. Last week, in a rare interview, TIME Correspondent Lee Griggs talked with Habash in PFLP headquarters...
Disclaimed Bridge. The strife extended to the waters of the Gulf that separates the two countries. Iran refused to ratify a 1965 agreement dividing the Gulf into Saudi and Iranian zones, and Arabian newspapers blossomed with maps labeling it the "Arabian Gulf." When an Aramco drilling team, with Saudi approval, began working in the same waters as the Iranian concessionaire, a joint venture by Iranians and Standard Oil of Indiana, one of the Shah's gunboats arrested the oilmen...