Word: consortium
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...first round began last week when Canadian Arctic Gas Pipeline, Ltd., a consortium of 27 American and Canadian energy firms, filed a 7,000-page application in Ottawa and Washington. The group is seeking permission to build a 2,600-mile pipeline from Alaska's Prudhoe Bay and Canada's Mackenzie River Delta, across the barren Mackenzie Valley and into the U.S. (see map). The pipeline could eventually provide some 2.25 billion cu. ft. of gas a day for customers in Midwestern and Pacific Coast states-about 3.6% of present U.S. consumption-and an equal volume for Canadians...
Spokesmen for the consortium argue that Canada has only about seven years of proven natural gas reserves left before it may have to rely on the untapped Mackenzie Delta deposits. A pipeline to the delta would be too massive a financial undertaking for Canada alone. But by hooking up with U.S. gas fields in Alaska, the Canadians can share the costs. The consortium has thoughtfully proposed that the 48-in.-wide pipe be buried, the surface above it revegetated, and the gas refrigerated to prevent melting the permafrost that it would traverse...
...Consortium officials will answer those objections in another application to be filed by next fall. Hearings will probably be held in both countries next year, and neither government is expected to make a decision much before...
...NATIONAL IRANIAN OIL CO. is the biggest and most sophisticated government firm. Iran nationalized petroleum in 1951, and N.I.O.C. controls all oil production, pricing and exploration in the country, which has reserves of 60 billion bbl. Pumping the oil is left to a foreign consortium-including British Petroleum, Gulf and Exxon-that is allowed to buy most of the oil that is lifted. Of the 5.7 million bbl. pumped daily, about 600,000 bbl. go directly to N.I.O.C., which refines and markets this amount for use within the country...
IRAQ NATIONAL OIL CO. rose to power after the government in 1972 seized almost all the concessions, equipment and pipelines of the Iraq Petroleum Co., a consortium that included British Petroleum, Shell, Exxon and Mobil. Iraq has estimated reserves of 31.5 billion bbl., and I.N.O.C. manages exploration and production, though it still sells some to the majors. I.N.O.C. has a big plus: an adequate supply of trained personnel, many of them schooled abroad largely at the expense of the major international oil firms...