Word: esso
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Dates: during 1970-1979
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...tough and durable old tiger. If the ultimate test of any organization is ability to grow and prosper amid wrenching changes, no organization has been more successful than Exxon. For 111 years, the business that has been variously known as the Standard Oil Trust, Standard Oil Co. (New Jersey), Esso and now Exxon has survived wars, expropriations, brutalizing competition, muckraking attacks and even dismemberment by the U.S. Supreme Court (in 1911). It has not only survived but has also grown -from a refinery in Cleveland to a global behemoth that sells petroleum in more than 100 countries through some...
...bring up oil from the Arctic tundra, the Arabian deserts, the Gulf of Mexico and Venezuela's Lake Maracaibo. Gasoline, jet fuel and heating oil are distilled from the crude at refineries in Benicia, Calif., Rotterdam, Ras Tanura in Saudi Arabia, and Singapore. Pumps blazoning the names Exxon or Esso (still widely used outside the U.S.) dispense gasoline in Canadian fishing villages, Zaire jungle outposts and along war-torn roads in Viet...
Until the Arab embargo, South Vietnamese forces never had to worry about where that oil might come from. When the Americans were in residence, Vietnamese units drew their supplies from U.S. depots. Afterward the U.S. Defense Fuel Supply Center contracted with Esso and Shell in Singapore and Caltex in Saudi Arabia for shipments to the same depots, now under local management. But early in November the Saudis warned that Singapore's refineries might be cut off from Arab crude if the refineries continued to fulfill U.S. military contracts-and that included fuel ordered for America's allies. Rather...
Their fear was caused by an announcement by the Marxist-Leninist People's Revolution Army, or E.R.P., which kidnaped an Esso Argentina executive, Victor Samuelson, 36, a month ago. The terrorists have said that he will be "tried" to determine the "crimes" of multinational corporations. The implication was that if found guilty, Samuelson would be executed. The guerrillas added that Exxon, Esso's U.S. parent company, owed $10 million in "back taxes," payable to E.R.P. Last week Esso was still negotiating with the guerrillas on payment of the ransom, believed to be the largest ever demanded in Argentina...
Considering how easily Samuelson, the general manager of Esso's Campana refinery, was kidnaped, foreign executives had reason to worry. Eight E.R.P. terrorists burst into the club run by Esso for employees of its Campana plant, 50 miles northwest of Buenos Aires. They headed straight for the table where Samuelson sat lunching with friends. Six other kidnapers, who had earlier infiltrated the club, quickly rose from their tables to help shove the American into a getaway car. Several days later a photograph was sent to Buenos Aires newspapers by the E.R.P. showing a nervous Samuelson posed in front...