Word: dhabi
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...members' differences. The Arab countries see oil as a political weapon to use against Israel; the non-Arab states see oil strictly as a commercial commodity. Within the Arab bloc, the radical states (Algeria, Libya and Iraq) often have political battles with the feudal monarchies (Abu Dhabi, Kuwait, Qatar and Saudi Arabia). Iran and Iraq are on the verge of hostilities because of border disputes...
...where it is badly needed-and, no one seemed disconcerted last week that Europe and not the U.S. had received the first major chunk. There are a lot of petrodollars to go around. Kuwait recently has begun pumping money into shares of unidentified U.S. and European companies, and Abu Dhabi plans to buy a major interest in a big office building in London. Sultan Qabus bin Said of Oman even got into the act last week: he reportedly paid $4 million for a German hotel and 4,000 surrounding acres. He wants to turn it into a summer residence...
...Dhabi, Algeria, Bahrain, Egypt, Kuwait. Qatar and Saudi Arabia...
...similar nationalization or by negotiating "participation" agreements, nearly every producing nation has entered the oil business. From Abu Dhabi to Zaire, government-owned firms are asserting more and more control over drilling, pumping, refining, shipping and pricing local petroleum. They already have played a key role in pushing prices to undreamed-of heights: several have auctioned off oil for $14.69, $17.34 or even $20 per barrel...
...producers. Last week French Foreign Minister Michel Jobert toured the Middle East attempting to button down contracts that would ensure France oil for the next decade and beyond. He was followed closely by Italian Foreign Minister Aldo Moro, who jetted to Egypt, Kuwait, Iran, Saudi Arabia and Abu Dhabi to guarantee supplies for Italy. In St. Moritz, the Shah of Iran took time between ski runs to listen to oil requests from German Economics Minister Hans Friderichs and British Chancellor of the Exchequer Anthony Barber...