Word: exxon
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...increase further Venezuela's oil income and economic independence, Pérez last week sent to the country's Congress his long-awaited bill to nationalize the oil industry, and reiterated that the takeover will occur later this year. Venezuela plans to pay the foreign companies-Exxon's subsidiary, Creole Petroleum, and Royal Dutch/Shell are the two biggest-only the net book value less several deductions, or about $1.4 billion. The offer might seem reasonable. Under existing contracts, the foreigners in 1983 were supposed to give over all their properties to the Venezuelans, without compensation...
...week Texaco announced the discovery of a major field about 110 miles northeast of Aberdeen. Eleven other commercial fields stretch in a 600-mile band from the Shetland Islands west of Norway down as far as the south-central coast of England. Drilling is being done by British Petroleum, Exxon, Gulf, Texaco, Shell, Mobil and 35 other companies. They will start to produce small amounts later this year and expect to be bringing in 2 million bbl. a day by 1980. But a hot taxation feud between the companies and the Labor government threatens to stall development...
...companies before the subcommittee and harshly accused them of jacking up prices and making extortionate profits from the energy crisis. The oilmen argued that the high earnings were for only one year, came after several years of modest profits, and were largely from big sales overseas. At one point, Exxon Vice President Roy A. Baze could not recall the size of his company's 1972 dividends. Jackson angrily threatened "to start slapping subpoenas on some of you," and then telephoned a stockbroker and announced that the dividends had been $3.80 a share...
...produced first-rank individual designers, some of whom created their most notable work abroad. Raymond Loewy, at 81 the dean of French designers, has lived for more than 50 years in the U.S., where he has produced hundreds of ideas, including the classic "double-fronted" 1953 Studebaker, the new Exxon corporate logo and the living quarters for NASA's Skylab. Next year the Smithsonian Institution will honor Loewy's work with a retrospective exhibition that will eventually be seen in Moscow as well...
...DeNiro) takes the first steps on the ascent from petty thief to capo di rutti capi in a series of flash-backs interspersed in the main action. Here, Michael (Al Pacino) has to deal with the legacy of his father--an extra-legal fiefdom doing business on a scale Exxon wouldn't sneeze at--and try to adapt it to changing times. If the film has anything to say about this, it is that he is imprisoned by his heritage. He marries an upper-class New England girl (played by Diane Keaton, who apparently hasn't learned...