Word: esso
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...black. The boom that followed the closing of the Suez Canal left order books bulging, with some delivery dates as far ahead as 1970. Eleven ships with more than a 2,000,000-ton capacity are on order at Lindoe, including two 240,000-ton tankers for Esso...
...more than in 1966. By Jan. 1, the firm will merge with three other Tyneside firms to form Swan, Hunter & Tyne Shipbuilders and become one of the few British shipbuilders able to handle the mammoth tankers that are becoming a key to the industry's survival. Two Esso tankers, 240,000 tons each, bigger than any ship ever built in Britain, will go up in their yards. Belfast's Harland & Wolff will build two more, at a price of $73 million for the four...
...boon for shipbuilders. The Japanese, who got their first boost with the 1956 closing of the canal, underbid the European builders by about 10% and soon had their order books bulging, with delivery dates stretching through 1971. Swan, Hunter & Tyne promised faster delivery, contracted to finish its first Esso supertanker by August...
...city officials' confidence has a firm financial basis. Five oil companies -Shell, Esso, Gulf, British Petroleum and Chevron-have zealously backed their every scheme. In response to the channel deepening, four have ordered no fewer than 82 tankers of the 175,000 to 225,000-ton class. And on land, they have invested more than $1 billion in facilities, about a third of it in chemical works and the balance...
Within the past three weeks, the companies have kicked off several new development programs. Shell began expanding its 20 million-ton refinery to 25 million, which will make it the largest in the world. At about the same time, Esso said that it would double its refining capacity from 8,000,000 tons to 16 million tons, and British Petroleum opened a $69 million refinery and designated Europoort its major stock and storage point in Europe. Finally, last week Gulf announced that it would build a $70 million chemical plant to manufacture polyethylene products...