Word: aramco
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...Arabia, the concessions were wangled from wily old Ibn Saud by Arabian American Oil Co. (Aramco), jointly owned by Standard Oil Co. of California and the Texas...
...Deal. In the new hand Holman held, the aces were Socony's Board Chairman Harold Sheets; Henry DeWard Collier, the shrewd, benign-looking board chairman of Aramco, boss of Standard of California; William Starling Sullivan Rodgers, director of Aramco and board chairman of the Texas Co.;Aramco's globe-trotting Vice President James Terry Duce. Their companies produce 22% of the worlds oil. They reached an agreement which, in effect, put Jersey Standard and Socony in Arabia...
...development rights to the world's greatest unexploited oil pool, under the sands of Saudi Arabia, belong to Arabian-American Oil Co. In the first major step towards marketing these vast resources (estimated potential: up to 26 billion bbls.), Aramco last week awarded contracts for the biggest and costliest pipeline in oil history. Straddling the Middle East for a distance of some 1,000 miles, the 30-inch pipe will shortcut the long haul by tanker from fields on the Persian Gulf to ports in the Mediterranean. It will cost some $100,000,000, will deliver...
...route of the line and its Mediterranean terminus have not yet been determined. The biggest snag in exact planning is troubled Palestine, where Jewish terrorists last week blew up the Iraq Petroleum Co.'s pipeline in two places (see FOREIGN NEWS). But Aramco, owned by the Texas Co. and Standard Oil Co. of California, is so confident of solving-or skirting-such difficulties that it is going ahead full speed. It sent one U.S. expert to Arabia last month to set up the job, will soon send technicians to make final surveys...