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Prosciutto and Melon. The disputed merger is special because British Petroleum is 49% owned by the U.S.'s staunchest foreign ally, the British government. Equally important, BP stands to benefit hugely from its oil finds on Alaska's North Slope. BP has discovered reserves estimated at an enormous 5 billion barrels, or about 25% of the total believed to lie under that barren region. Seeking marketing outlets for its crude, a BP subsidiary last March bought approximately 8,250 East Coast filling stations from Sinclair...
...effecting social and political change. But you and I both know how hopeless that is. As we watch Procaccino gurgle to victory in November, we can kiss goodbye to the electorate. Then we can turn to the RYM, PL, the CP, the WSA, SDS, the P and FP, the BP, BDRG, and the Weathermen. And even if we pulled off a fantastic proletarian revolution right away and started reorganizing everything, it would be 50 years before they got around to air pollution. And the world will be long gone by then...
...gold key by Texas' Nelson Bunker Hunt, 40, second son of H. L. Hunt and half owner of the oil company that made the Marsa Hariga facilities possible. The other 50% interest is held by British Petroleum Co., and the firm is named - logically, if not lyrically- BP Bunker Hunt...
...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...
Desert Drilling. For all its possibilities, the BP Bunker Hunt enterprise is only an indication of the interest that major oil companies now have in Libya. A mere five years ago, Libya ranked virtually nowhere among the oil-producing nations of the world. Today it stands seventh, behind the U.S., U.S.S.R., Venezuela, Saudi Arabia, Kuwait and Iran. Thirty-nine companies have drilling operations in the Libyan desert. The 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...