Word: conoco
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...worked in staggered shifts, 20 hours a day, seven days a week, to keep the drill boring slowly into the sea floor beneath. Last week the punishing grind paid off: the rig's owner, Continental Oil Co. of England (a subsidiary of the U.S.'s Conoco), struck a promising, 64-ft.-thick pocket of natural gas that is yielding...
...Loeb, Rhoades in an attempt to buy Pure Oil Co. After that attempt failed, Love turned to old friend McCollum, negotiated to sell his coal company to Continental Oil, the nation's eighth-largest oil and natural-gas company, whose products are known to motorists as "Conoco." This prospect appealed to Love partly because he hankers to spend more time managing Chrysler Corp., 7.3% of whose stock is owned by Consolidation Coal. Though Chrysler is well run by its operating chief, President Lynn Townsend, it could use more of Love's financial attention; because its auto sales have...
...open, in addition to 250 more of the traditional conveyer-line or "tunnel" outfits. Johnson's Wax is putting the final polish on a plan to establish a nationwide chain of 300 car washes that will do everything-including applying a coat of wax-automatically. Continental Oil Co. (Conoco) has begun to test coin-ops in its Denver gas stations, could eventually attach them to stations in major cities all over the U.S. Humble, Shell and Gulf dealers have been installing British-made coin-ops. No fewer than 79 U.S. companies are now turning out the devices...
...Vice President John E. Howell about a series of phone conversations with top oil-industry executives. Howell explained that the calls were about a duck hunt in Arkansas-not crude-oil prices. The Government also introduced a wire from Continental Oil Executive Vice President Charles A. Perlitz to Conoco President Leonard F. McCollum in which he wrote, after much talk about crude oil: "Have not heard from Proctor as yet." Mr. Proctor, indicated the Government darkly, was executive vice president of Gulf Oil Corp., another of the defendants. Conoco's answer: the reference to Gulf's Proctor...
With oil already in oversupply, Sinclair, Gulf and Conoco broke the rules of supply and demand last week and raised their wholesale prices; other major firms were expected to follow their lead. Experts claimed that the U.S. oil industry is creating a pattern of passing on increases in labor and other costs ultimately to the consumer...