Word: bbl
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Dates: during 1950-1959
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GASOLINE PRICE CUTS are in the wind. With the winter season of reduced driving coming on, gasoline stocks are pushing 180 million bbl. v. 173 million bbl. this time last year, and refineries have already shaved ¼? off the price of gas at Gulf ports...
Brown was known to be buying up Trans-Canada shares, but few suspected he had gone so far so fast. From Robert Brown Sr.. Bobby inherited the fledgling (250 bbl. daily) Federated Petroleums Ltd.−and his father's dream to become the biggest Canadian in the industry. Concentrating on buying up proven wens rather than on exploration, he had grown enough by 1955 to take over the 26-year-old Home Oil Co. Ltd., forming one of Canada's biggest independent oil producers. Home Oil managed to get 162,000 Trans-Canada shares in last spring...
...industry was caught last week in a pinch that had the oilmen howling for relief. Instead of the usual 4%-5% annual increase in domestic oil demand, consumption has edged up only 1%, pushing surplus stocks of petroleum products to 723.9 million bbl. by the end of September, nearly 43 million bbl. more than during the same period last year. Oilmen everywhere cut back exploration for new wells, and prices slumped sharply. With more oil than it can sell, Ohio Oil Co. shaved its bids for new supplies of Wyoming heavy crude by 8? per bbl. and Indiana Standard...
...refuse the voluntary cutbacks, they face mandatory controls by the Government, may even come up against legislation in Congress to reduce imports. Though only ten of the 22 curbed importers say that they can meet their quotas by January, their imports are slowly inching down, will average 849,300 bbl. daily by December, not too far from the Government's goal of 755,700 bbl. daily for the year ending next June...
...lease on the old Imperial Japanese Navy shipyard in Kure in 1951 that runs to 1961, can be renewed to 1966. To fuel his fleet of more than 40 ships, which he sails with low-cost West Indian crews under the Liberian flag, Ludwig is building a 70,000-bbl.-a-day day refinery in Panama, also has a 1,000,000-acre Venezuelan ranch whose 10,000 head of cattle may soon supply his ships with meat...