Word: barco
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Dates: during 1930-1939
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...Petroleum is controlled by Gulf Oil Corp. of Pennsylvania (Mellon-controlled), buyer of a 75% interest for $2,500,000 in 1926. The remaining 25% is held by Carib Syndicate, Ltd., among whose directors are Charles Hayden of Hayden. Stone & Co., Ernest Stauffen Jr. of Marine Midland Corp. The Barco Concession is in the Department of North Santander, 200 miles from the Caribbean...
...Barco Land. In 1905 the Republic of Colombia (the one just below Panama, on South America's neck) gave to able General Virgilio Barco the concession to 11,500,000 acres of what was thought to be rich oil land. In 1918 General Barco sold the rights to 1,300,000 choice acres to Colombian Petroleum Co. of the U. S. In 1926, again in 1928, Colombia declared the Barco Concession cancelled, caused many a memorandum to pass between Washington and Bogota. Last week, however, a contract was signed by Colombia giving Colombian Petroleum right to work the land...
...shutdown of Gulf's Colombian fields marked the final step in a series of Latin-American difficulties. In 1926 Gulf's Colombian production was seriously diminished by the cancellation of the Barco Concession,-a concession which unique Henry L. Doherty's Cities Service Co. had obtained from the late great Colombian Virgilio Barco and had then sold to Gulf. In 1929 the Colombian Government upheld this cancellation and the matter is now before the Colombian courts. Gulf Oil has also recently suspended operations in Panama and Mexico...