Word: gulf
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Dates: during 1950-1959
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Early last week the Kern Hills, flying the U.S. flag, dropped anchor off Elath at the head of the Gulf of Aqaba and began to pump off its load of 16,500 tons of oil from Iran. Its arrival was almost unremarked. The U.N. troops still occupy the Egyptian side of the narrows, so Egypt could not shoot off its guns. No guns barked from the Saudi Arabian shores either, though Saudi Arabia had threatened to bar the Aqaba Gulf to unwanted ships. Israel, which had celebrated the Kern Hills' first voyage with crowing triumph, this time censored news...
Reflecting the oil-industry bonanza caused by the Suez Canal's closing, Gulf Oil Corp. reported profits up from $2.43 to $3.20 a share, Texas Co. up from $1.27 to $1.57, Shell Co. up from $1.16 to $1.37, Standard Oil Co. (New Jersey) up from $1.04 to $1.20. And in the steel industry, where there have been some production cuts, several big companies came in with substantial profit gains. Republic Steel Corp. had the highest first-quarter sales and earnings ($1.81 a share v. 1956's $1.62) in its history. Profits were also up for Bethlehem Steel Corp...
...Italy's state-owned ENI oil and gas monopoly, headed by ambitious Enrico Mattei, who wants to force Italy's way into the international consortium of British, Dutch, French and 14 U.S. oil companies that holds the concession on Iran's older oilfield along the Persian Gulf. A fortnight ago ENI had reportedly closed a deal to exploit Qum itself. Last week it was disclosed that ENI had merely initialed a contract, subject to ratification by the Iranian Parliament, to explore three other areas. Under its deal ENI would advance $22 million for exploration costs, get nothing...
Common Complaint. But if the three kings seemed to have cut loose from Nasser on East-West issues, they appeared bent on making it up to their brother Arab by re-emphasizing their solidarity against Israel. After the U.S. flag tanker Kern Hills, on Israeli charter, sailed through the Gulf of Aqaba to unload Iranian oil at the Israeli port of Elath, the Saudis informed U.N. Secretary-General Dag Hammarskjold that they considered the gulf a closed Arab sea, and that if Israeli ships tried to pass they would "oppose" them. In rapid succession Iran, Iraq, Syria, and even...
Illiteracy and prejudice still maintain a fearsome gulf between Moslem Morocco (see FOREIGN NEWS) and the Christian West. But miles south of the ancient Moslem holy city of Fez, high in the oak-thicketed Atlas Mountains, a band of black-robed Roman Catholic monks last week went quietly about their accustomed work: building a retreat where Moroccans and Europeans can meet, trade social and political theories, and learn each other's foreign ways. Their oasis of understanding is Morocco's only Christian monastery, the Benedictine Priory of Christ le Roi at Tioumliline...