Word: caltex
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Similar offers went to Caltex of California and Britain's Burmah-Shell. In return the three outfits would promise to train Indian technicians, employ as much Indian labor as possible, and stimulate Indian industries. By 1955 the companies hope to have three oil refineries worth $100 million, producing two to three million tons of refined products a day. A compact advantageous to both parties, it is also welcome as the first major investment of private U.S. capital in India since India won its independence...
...Government orders, all won by competitive bidding. To keep up with-or ahead of-southern competitors, Kahn is putting the finishing touches on a ten-year, $8,000,000 program of expansion and modernization. This month he added to his bathing suit line by buying Los Angeles' Caltex of California Co., one of the West Coast's bigger swimsuit producers...
...rest of the U.S. business colony watched the Gould case with morbid fascination. For the first two months under the new "People's Government," one firm after another-Standard Oil, the Shanghai Telephone Co., China Electric, Caltex and even the U.S. consulate-had been subjected to similar lock...
...partner in Italy's rig ANIC (Azienda Nazalonale Idrogena-zione Combustibili), by putting up $6,000,000. It will get a 50% interest in a new company which will modernize and operate two ANIC refineries, with a combined daily capacity of 16,000 barrels, at Leghorn and Bari. Caltex Oil Products Ho., joint subsidiary of the Texas Co. and Standard Oil Co. of California, bought an interest in Italy's Petrolea S.A., subsidiary of FIAT. Caltex will build a $15 million plus, 10,000-daily-barrel refinery in the Po Valley. Like Standard's new Italian reineries...
...State Department disclaimed any knowledge of the deal. It said that, since no U.S. oil exports were involved, Caltex could do as it pleased...