Word: bbl
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Dates: during 1960-1969
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Susie No. 1. Since the merger, Atlantic Richfield has increased combined oil reserves from 1.8 billion bbl. to 2.1 billion, added 52 new producing wells for a total of 7,132, and built more than 500 new service stations while modernizing others. Now the Alaskan find is quite a layer of frosting on the cake. "Everybody else," says Anderson, "had pretty well written the Arctic Slope off because of cost, indifferent success, and the absolute need for a major discovery in order to have commercial significance." Atlantic Richfield thought about writing off the area too. On their 90,000 acres...
...Standard Oil Co. (California) showed record second-quarter earnings of $116.8 million ($1.44 per share), up from 1967's $107.8 million ($1.33 per share). Chairman O. N. Miller attributed the 8% gain to a 15% jump from 1967's pace of 1,807,500 bbl. daily, plus a "continued strong upward trend" in chemical-sales revenues...
Easing Off Coffee. The present timetable calls for 50,000 barrels of crude oil a day to begin flowing toward Tumaco at year's end. By then, Texaco plans to have 25 producing wells pumping an average of 2,000 bbl. daily. Best guess is that the pipeline's top capacity of 100,000 bbl. a day will not be sufficient and that a parallel line will have to be constructed. Estimates place the cost of the total project at about $100 million before the first drop of crude oil reaches Tumaco tankers...
...world's burgeoning population. As deposits of minerals, oil and gas are depleted, the virtually untapped resources lying on and beneath the ocean floor become increasingly attractive to industry. In 2,500,000 sq. mi. of offshore area, the U.S. alone has petroleum reserves estimated at 3.2 trillion bbl...
...virtue of the ambitious Rotterdammers. Since World War II, when 35% of its port facilities was leveled by the Germans, the Dutch city has spent $200 million to build a modern gateway to Europe. Between 1960 and 1966, Rotterdam's oil throughput has soared from 215.4 million bbl. annually to 453.6 million. Making this possible is Europoort's strategic location: five industrialized nations, with a total population of 168 million, are within 400 miles. Refined oil is loaded into trucks and rail cars, hauled inland by barge along the Rhine and Meuse rivers or transshipped by vessel. Crude...