Word: bbl
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...basis. The cost of crude in these sales has often been the most sensitive barometer for world oil prices. During 1979 and 1980 leaping spot market prices encouraged oil exporters to begin raising their long-term contract prices to levels that eventually reached $40 per bbl. With demand now ebbing, more and more companies have been dumping their excess crude and petroleum products on the spot market. By last week spot prices had slipped to a low of $30.75. A market expert with one of the top multinational oil companies points out that even the Soviets, who have long been...
...cutting back on its aid to all of Southeast Asia. The Soviets were forced to reduce their 1981 grain shipments to Kampuchea by almost half, from a promised 100,000 tons to only 55,000. The price Viet Nam pays br Soviet petroleum rose from $4 to $16 per bbl. in 1981. This year, oil-import subsidies for Laos have been ended...
...more per month than its oil revenues provide just to supply the basic needs of its restive population. Since November the regime has had to divert $1.5 billion in development and welfare funds to help finance the prolonged war with Iraq. Oil exports have leveled off at 900,000 bbl. per day, providing $966 million a month in revenues, compared with $1.74 billion in 1978. In a nation of 39.8 million, 4 million are now jobless, and as many as 2 million are homeless because of the war. Some observers believe that much of private industry will come...
...domestic exploration and production between 1976 and 1980, its U.S. reserves declined by 6% in the past five years. Buying Marathon could increase Mobil's American oil supplies by 75%. For example, the Yates Field in West Texas, where Marathon owns a half-interest, now produces 100,000 bbl...
...pipeline has been that the country needs Alaska's gas in order to become more energy independent. The 26 trillion cu. ft. under Alaska's North Slope are equal to 13% of U.S. proven reserves and could reduce foreign-oil imports by at least 400,000 bbl...