Word: esso
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TANKER TRADE-IN program of the Maritime Administration (TIME, Oct. 11) is beginning to work. Esso, which operates a fleet of 50 tankers, will trade in five World War II ships for $5,000,000, which it will then apply toward two new tankers worth $22 million. Cities Service and Texas Co. are also dickering with the Government to trade in at least seven other outmoded tankers...
...George Macdonald Parker, 54, was elected president of Esso Export Corp., international sales arm of Standard Oil Co. (N.J.). A graduate engineer (University of Wisconsin, '23), Parker took a succession of jobs for gas producers, in 1943 began trotting the globe for Standard of N.J. In 1950 he went to London as an Esso Export vice president. He came back last year, bringing with him a 40-ft. Dutch sloop that he sails on Long Island Sound with his three sons...
Abandoned stone quarries, if they are used at all, are generally used only as swimming holes. But in the last year Esso Standard Oil has spent about $500,000 making an oil storage tank out of a vacant quarry at Wind Gap, Pa. Last week Esso pumped the first oil from its Linden, N.J. Bayway Refinery 65 miles through a 6-in. pipeline into the huge pit, capable of holding about 1,000,000 bbls. of heating...
...operation is successful, oil manufactured at Bayway during the summer will be pumped into the quarry, where it will float on the water, be covered with 250 three-ton floating steel pontoons. In winter the oil will be piped back for distribution to homes. Esso owns or has options on nine other quarries in the area capable of holding 8,000,000 bbls., enough to heat 225,000 homes for a year...
...Esso France's second drilling at Parentis hit water, but a fortnight ago a well drilled at a third site came in, is now pumping at a rate of 2,400 bbls. a day. Says Esso France's President Serge Scheer: "Parentis No. 1 is already the richest well in all France. But we are still unable to say exactly how far the layer of oil extends below the sandy surface. We are currently boring well No. 4 [down to 6,232 ft. last week], and by March we expect to have six or seven wells in this...