Word: bbl
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Dates: during 1960-1969
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...failed to resume shipments of at least some oil to other countries. Nonetheless, Arab oil, which supplied one-third of the world's needs until the outbreak of last month's Arab-Israeli war, was flowing at less than half its normal rate of 10,300,000 bbl. a day. And the continued shutdown of the Suez Canal forced Middle East-to-Europe oil shipments on a costly detour around the Cape of Good Hope, sorely taxing the world's tanker capacity in the process...
Sinai Fields. The biggest losers so far are the Arabs themselves. Kuwait, which gets more than 90% of its $695 million government budget from oil revenues, is exporting barely half its normal 2,600,000 bbl. a day. No better off is Iraq, which depends on oil for 80% of its income, but has resumed shipments beyond the Arab world only to France and Turkey. Nasser's bankrupt United Arab Republic is losing $700,000 a day in Suez Canal revenue, has not begun clearing the canal...
Last week a settlement was reached, and Syria turned the valves to start the 950,000 bbl. a day of crude oil gurgling once again toward the coast. That night Premier Youssef Zayyen, 36, went on radio and TV to declare "a triumph of the struggling masses over Western monopolies." Following his speech, the audience again heard the lyrics of a song written especially for the crisis...
...pumping a modest 100,000 bbl. a day, BP Bunker Hunt ranks fifth among the majors operating in Libya. But it has enormous potential, because of its concessions in the huge Sarir field. To exploit its holding, BP Bunker Hunt has built a capacious crude-oil pipeline leading from its rigs in the Sarir to Marsa Hariga. Running 320 miles, the 34-in., multimillion-dollar line could ultimately carry almost 1,000,000 bbl. at a clip. It is buried six feet beneath the dunes in order to keep the oil liquid during the chill desert nights. The pipeline runs...
...biggest producer is a consortium, Oasis Oil Co. of Libya, Inc., comprising Continental, Marathon and Amerada-Shell. Also on the scene are Esso, Mobil/ Gelsenberg (75% Mobil-owned) and Amoseas, a joint exploration venture of Texaco and Standard of California. Together, these giants pump more than 1.7 million bbl...