Word: exxon
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Worldwide, the shortage has sparked more of an exploration than a production upswing. Spurred on by voracious demand and fat prices, such oil giants as Exxon, Mobil and Texaco, along with a host of smaller firms, are scouring the earth from Malaysia to Newfoundland for fresh finds. Next month, activity in Peru's Amazon River jungle will reach boom tempo as Union Oil, Tenneco, Getty, Sun Oil, Transworld and other companies begin drilling for what many geologists believe is the world's largest unexplored oil deposit. The most promising recent strikes have been under the turbulent waters...
...concerns are vast and powerful enterprises, vertically integrated (controlling all aspects of the trade, from production to refining and marketing) and formed into great combinations and cartels to regulate the market. In the U.S., Exxon (originally Standard Oil of New Jersey) stands second only to General Motors in sales, and tops Fortune magazine's 500 industrials in assets. The assets of the three companies which originally formed Rockefeller's Standard Oil--Exxon and the Standard Oil Companies of California and Indiana--taken together are twice...
...would the multinationals, vulnerable to Arab nationalization of their wells, so effectively frustrate the spirit of the boycott-and why would governments go along with a practice that seemingly hurts their own citizens? Actually, they have little choice. Rotterdam is the largest refining center in Northern Europe. Shell, Exxon, Chevron, British Petroleum and Gulf all have huge refineries there that supply neighboring countries as well as the Dutch...
City officials could follow the lead of their New York City counterparts, who this week threatened to take Exxon Co. to court after the company announced a similar quota on gas sales...
Over the years Socal was joined by three other oil giants?Exxon, Texaco and Mobil?to form the Arabian American Oil Co. (Aramco). Western-owned oil companies in the Middle East were able to drive one-sided bargains with the weak, quarreling and often ignorant Arab regimes. The corporations controlled exploration, production, shipping and marketing, and paid the governments as little as they could...