Word: esso
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Exxon Controller Archie L. Monroe told the Senators that during the eight-year period, his company approved contributions totaling $27 million by Esso Italiana, mainly to Italian political parties. Monroe said that Exxon called a halt to the payments in 1971 when it discovered that the subsidiary's president, Vincenzo Cazzaniga, since dismissed, had spent an additional $19 million that had not been authorized. Included was a voucher for $86,000 supposedly paid to the Italian Communist Party, which made sweeping gains in regional elections last month partly by boasting that its hands were "clean" of foreign oil money...
...official corruption. Corporation executives doing business in Kenya are often asked by high government officials for "contributions" to various charities, though some doubt that the money ends up in the coffers of such worthy recipients as hospitals or orphanages. Early this year, James Skane, the American managing director of Esso Standard in Kenya, was declared a "prohibited immigrant" and summarily expelled from the country after he aggressively tried to collect some $70,000 in unpaid fuel bills. Unfortunately for Skane, it turned out that the money was owed by a series of farms reportedly owned under different names by Kenya...
...scandals. The first goes back to 1971, when an independent oil distributor charged that the multinationals were trying to squeeze him out of business by not selling him supplies. Last week the government handed down indictments against 15 oil-company executives, including top figures at Mobil, Shell, Esso and Total. The decision fuels the other scandal, in which the same companies have been accused by Finance Minister Valery Giscard D'Estaing of playing favorites during the Arab oil crunch. They are charged with supplying longtime independent clients while cutting off some newer firms...
Early last month, an eight-page letter from the Ministry to the European Commission of the Common Market was leaked to the press. It alleges that Shell, BP, Chevron, Mobil and Esso conspired to drive out independent oil marketers, juggled their books to avoid paying West Germany's high taxes and engaged in price fixing. The oil firms deny all the charges, and the government refuses to comment on the letter. Relations between both sides have never been worse...
BELGIUM is the only Common Market nation that has not raised retail oil prices of gasoline since the producing countries doubled the price of crude in January. Understandably, British Petroleum, Texaco, Esso Belgium and other oil companies now say that they cannot buy oil at pre-January prices. Their request for a 90% boost in prices, however, has been refused, at least until Belgians elect a new government next week. Rather than continue to operate in the red most of the multinationals have banned further shipments of oil into Belgium. As a result, Belgium could become the first European country...