Word: iranian
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Dates: during 1950-1959
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...month ago the biggest of Farben's successors, Farbenfabriken Bayer of Le-verkusen. announced one of its most am bitious projects. With Anglo-Iranian Oil Co.'s German subsidiary, Bayer will build a $60 million plant near Cologne to crack 2,100,000 bbl. of oil a year into basic chemicals for plastics and synthetic fabrics. This will vastly expand Bayer's production of 13,000 different chemicals, dyes, drugs, resins and photographic products (Agfa), which last year rang up $380 million in sales...
...last week, in a gargantuan effort to adjust to the fury deep within the earth, a vast arc of the earth's crust, curving out some 250 miles on either side of Mt. Demavend, shuddered and heaved in a mighty earthquake that laid waste more than 100 Iranian villages in an area covering 50,000 square miles. Communications were cut; the area's network of irrigation canals became blocked; sliding earth made roads impassable. In two ruined villages alone, rescue workers making their way perilously afoot and on horseback found more than 400 bodies...
...start as a $155-a-month assistant engineer on the Pennsylvania, moved up to track superintendent by 1942, when he was called to active duty in the U.S. Army as a first lieutenant in a railway battalion and later (as a lieutenant colonel) in charge of the Army-operated Iranian State Railway in the Middle East. Returning home to the R, F & P, he helped make the line's route between Richmond and Washington, D.C. into one of the nation's most profitable runs, linking half a dozen major roads, was rewarded with the presidency...
...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 if oil was not found. If oil was found, it would pay the Iranian government half of all the profits, then give half of what remained to the National Iranian Oil Co. as its partner...
...such a split. To do so might well force a revision of royalties in the Middle East and other areas. Under the circumstances, oilmen expect that Iran will soon consider-and pass-a new law that will offer oil companies some tempting inducements to develop Qum and other Iranian areas...