Word: conoco
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Clinton and Bush Administration officials now admit they knew about Conoco's prospective $1 billion oil contract with Iran. President Clinton nixed the deal by executive order this week. The Houston-based oil firm said today in Senate testimony that it was never told to halt negotiations with Tehran to develop offshore oil fields, despite State Department concerns about Iran's terrorist activities. Senate Banking Committee chairman Alfonse D'Amato (R-N.Y.), who held a hearing on the matter today, said that State Department officials misled the company: "The Clinton and Bush Administrations knew and did nothing," D'Amato...
President Clinton signed an executive order that derails the Houston-based Conoco's lucrative deal to develop two Persian Gulf oil fields for Iran through a foreign subsidiary. The move, which TIME Defense correspondent Mark Thompson says came after Clinton's weekend efforts to "choreograph" a graceful withdrawal by the firm, bars any U.S. citizens or companies from signing oil development contracts with the Iranian government. Clinton acted to reinforce a U.S. crackdown on Iran's support of international terrorism, on its efforts to undermine Middle East peace and Tehran's possible development of nuclear weapons. "The problem...
...were not part of the communist orbit but kept their oil industries under tight national control are also opening their arms to the capital, technology and management skills that international oil firms offer. Venezuela's state-owned oil industry took in foreign partners last year, entering joint ventures with Conoco, Mitsubishi and Shell. Foreign firms have flocked into Colombia to develop the Cusiana and Cupiagua fields, which together constitute the largest find in the western hemisphere since wildcatters struck oil in 1967 in Alaska's Prudhoe...
...Seagram, Edgar Sr. accommodated changing consumer tastes in part by lightening blends of a leading whiskey brand, introducing bottled cocktails and importing wines and liqueurs. He also diversified into office buildings, shopping malls and other businesses. In 1981 Seagram bid for control of Conoco, a giant oil and gas producer. It lost to Du Pont Co. but came out owning 24.3% of Du Pont stock, today worth around $9 billion. Seagram's management of that investment just might indicate what role it could play in Time Warner. The company has made no effort to take over Du Pont...
...simple: Play along with us, and we can make good things happen for you. Oppose us, and . . . well, watch out. Delivering the first part of the message, Treasury Secretary Lloyd Bentsen on March 12 welcomed into his airy office executives of seven major oil companies: Amoco, Ashland, Chevron, Conoco, Phillips, Shell and Unocal. "We're willing to adjust our fuel tax in ways that will help you," said Bentsen. He noted that his department had already promised to revise the way it proposed to collect a new energy tax to favor U.S. oil refiners over foreign competitors. He vowed...