Word: exxon
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...after Indira Gandhi had proved that a Watergate was impossible in India, the year that the United States became the world's largest democracy. It was the year Kuwait surpassed the United States in per capita income and Italy beat France in per capita wine consumption. The year Exxon became the world's largest corporation and the Comoro Islands the smallest member of the U.N. It was the year everyone heard of South Molucca...
...gross national product, 86% of its revenues and 97% of its exports. During the debates that led up to nationalization, the government shunned emotional rhetoric and consistently rejected far-left demands that it eject 21 foreign oil companies without compensation. For their part, the companies, headed by Exxon, accepted with only minimal grumbling a shade over $1 billion-10% of it in cash and most of the rest in five-year Venezuelan government bonds-for equipment and concessions that they value at $5 billion. Said one official of the former Exxon subsidiary, Creole Petroleum: "Venezuela has reached the point where...
...Alaska is on its way to a third great boom. Oil companies-notably Atlantic Richfield, Exxon and Sohio-have already found immense reserves of natural gas under the frozen tundra of the North Slope. Geologists believe that there may be as much as 300 trillion cu. ft. of gas in deposits in Alaska's Arctic; those deposits could supply 5% of U.S. annual demand (currently 22 trillion cu. ft.) when tapped, thus helping to head off the long-predicted severe shortage in U.S. gas supplies. In fact, the gas could begin to flow from the Alaskan wells into...
Libya. The operations of six companies have already been 100% nationalized, and the government has taken majority stakes in eight others, including Mobil, Exxon and Occidental. In addition Occidental and Libya last week settled a dispute over production levels in two Libyan fields; the dispute had threatened to jeopardize a 1973 pact that left Occidental with a 49% interest in its Libyan operations...
Venezuela. Nationalization of all oil operations will be completed by Jan. 1. Venezuelan Oil Minister Valentin Hernandez said the government would pay 39 foreign companies slightly more than $1 billion in cash and 6% bonds for their holdings. Exxon will get $512 million, Shell $240 million. The companies are not satisfied-Exxon reportedly had hoped to get $90 million more -but they have reluctantly accepted the government's offer and are planning to market nationalized Venezuelan oil in North America and Europe...