Word: burmah
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Dates: during 1960-1969
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Three other drilling groups-Shell-Esso, Signal and Phillips-will shortly be joined by Rycade and the Burmah Oil Group. Among them, 23 consortiums have ordered some dozen drilling rigs, will spend more than $300 million exploring the British North Sea by 1969. There is every indication that their huge gamble will ultimately pay off. What they are playing for is a major gas field -some think it may prove to be the world's biggest-that is located on the very doorstep of one of the world's fastest growing energy markets: Western Europe...
Meanwhile, the leftward lurch continues. The island's new chief source of oil is the Soviet bloc, following the seizure of three U.S. and British firms (Esso, Caltex, Burmah-Shell) and the creation of a government oil combine. The Western companies have not been paid a cent for their properties worth $29.5 million; as a result, the U.S. has canceled further economic aid to Ceylon after doling out a yearly average of $7.5 million over the last decade...
...crises since she took office by announcing a 25% cut in the rice ration. In yet another attempt to ease Ceylon's formidable economic woes, her government last April seized almost 200 gas stations and oil depots owned by a trio of U.S. and British firms (Esso, Caltex, Burmah-Shell). Total value of expropriated properties: $20 million...