Word: gulf
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Dates: during 1930-1939
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Away from London last week slunk snubbed Emperor Haile Selassie (see p. 18), but glad British hands were extended by King Edward and many another in London to His Highness Sheik Sir Hamad bin Isa al Khalifa, ruler of the Bahrein Islands in the Persian Gulf of Iran...
...Sheik's goodwill is of vital importance to Britain. Very quietly last year the Persian Gulf base of the Royal Navy was moved from Iran's famed Bushire to Bahrein and thus outside the immediate domain of Iran's King of Kings. The Sheik also allows British planes flying to India to use one of his islands as a landing base. Few years ago the Sheik permitted Standard Oil of California to set up on the island a subsidiary called Bahrein Petroleum Co., which is now booming along with some 1,000,000 barrels production annually...
...Sheik made a wish his British hosts could not see their way to fulfill. "I should very much like," said His Highness, "to have the Queen Mary come up the Persian Gulf in order that my people might...
Texas Corp.'s Chairman Torkild Rieber likes to do things with a minimum of publicity, a maximum of purpose. Last spring the Norwegian-born onetime shipmaster bought from the Mellons' Gulf Oil the famed Barco concession in Colombia, promptly teamed up on a 50-50 basis with Socony-Vacuum for its development (TIME, May 4). Last week Captain Rieber struck another foreign deal with another Standard company, Standard Oil of California. In a terse joint statement from Captain Rieber and Standard's Kenneth Kingsbury it was revealed that Texaco will market all oil produced and refined...
...Palestine to Capetown, including Australia and New Zealand. Texaco at present has no commercial production outside the U. S., though foreign business accounts for about 20% of its total sales. California Standard has no retail marketing system "east of Suez." But on the island of Bahrein in the Persian Gulf it does have a great potential supply of crude (see p. 21). Development was started in 1931 and a big refinery is under construction. Yet last year California Standard was able to sell only 1,300,000 bbl. of Bahrein oil. In Saudi Arabia and the Netherland Indies the company...