Word: esso
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...their traditional overseas markets, came just as the battle forced Western firms to cut their prices to meet Russian competition. Items: ¶Four major Middle East oil producers -British Petroleum, Shell, Mobil, and the Compagnie Franchise des Petroles-cut their posted crude-oil prices, following the lead of Esso Export Corp. ¶Under pressure from price cuts in India (TIME, Aug. 22), British and U.S. companies reduced bulk prices on petroleum products in Pakistan by an average 7%. ¶Ceylon's Prime Minister Mrs. Sirimavo Bandaranaike, not to be left out, summoned three Western oil companies in Colombo...
...shiny black shoes and sports shirts stop flirting with their plump, pinch-waisted girl friends as the loudspeakers switch from the new music of the pachanga to news: "Old Mr. Herter is preparing ships and men at the Key West naval station to invade Cuba." At the Esso station, a workman paints the pumps green as a reminder that the revolution has changed Cuba so much that even the gasoline, refined from Russian oil, is different...
...cameras, tubing, flour, cable, screwdrivers, electric motors, hinges, light bulbs, farm machines, printing presses, office equipment, medical instruments. The deal also included a barter exchange-sugar, the nation's major export, for oil, the major import. To refine the Russian crude, Che seized the three foreign refineries-Shell, Esso and Texaco-without compensation...
...bartering sugar for oil, and taking the advice of the Communist who is his chief economic brain, Ernesto ("Che") Guevara, Fidel Castro last week turned to Russia for the oil to run Cuba. In doing so, he seized a $20 million Texaco refinery and a $35 million Jersey Standard (Esso) refinery, both U.S.-owned, and a $20 million refinery of Canadian Shell...
Guevara has concluded a twelve-year trade treaty with Russia calling for $100 million in Soviet aid, has sold a million long tons of sugar to Russia, 130,000 to Communist China, 60,000 tons to East Germany and 150,000 tons to Poland. He ordered Esso, Texaco and Shell to start processing 900,000 tons of Soviet petroleum arriving regularly aboard Russian tankers. The oil companies, whom Cuba owes $60 million for previous shipments from Venezuela, refused, and Castro threatened last week to nationalize them...