Word: ausonia
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Dates: during 1970-1979
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...California to reduce production by approximatey one-third. The declared reason: they were depleting the country's reserves too rapidly. - Algeria, which is against almost all Western countries except France, nationalized the operations of Phillips, Royal Dutch/Shell, West Germany's El-werath and Italy's Ausonia because they refused to turn over 51% of their interests to the state-run oil company. Getty Oil has agreed to Algeria's terms, and Mobil is considering doing the same. El Paso Natural Gas was exempted, evidently because Washington has yet to rule on its application to supply...
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