Word: mobiles
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Dates: during 1970-1979
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...after another, Egyptian dignitaries took turns opening the valve and sending jets of oil across the sand. Finally, an executive of Mobil Oil−a partner of the Egyptian oil firm that controls the wells−warned: "Better hold off, boys. That stuff is worth ten dollars a barrel...
...signing ceremony, which took place inside a former Israeli compound (a sign on the fence in Hebrew warned of land mines), the Egyptians beamingly approved of the Americans' work. "You have done a great job," said Hilal. "We hope we will see you again in Egypt." Answered Mobil's Cairo manager Ross Sawtelle on behalf of his crewmen: "They have drunk of the water of the Nile and that means they will return...
...depletion allowance. Oil company profits for the first nine months of this year ran, on an average, 31% below last year's spectacular highs. In the quarter ended Sept. 30, Exxon's profits were down 31.2% from a year earlier, Gulfs 36%, Texaco's 38% and Mobil's 17%. The slide in earnings, plus the new price rollback, is certain to dampen oilmen's enthusiasm for much needed exploration. U.S. production of crude is in its fifth consecutive year of decline. And though oil companies completed drilling a record 25,729 domestic wells...
...Harvard Corporation member, one senior official said, should have "business talents and connections like Nickerson [the retired board chairman of the Mobil Oil Corporation], be that person man or woman...
Israel, meanwhile, was acting with equivalent aplomb. Even though Jerusalem did not sign the agreement until last week, the government had earlier decided to honor a timetable drawn up as though it had. Thus the Mobil engineers were welcomed heartily when they first arrived at Ras Sudr under U.N. escort, a day before the signing ceremony. An Israeli colonel in charge of the pullback from the fields told TIME Correspondent Marlin Levin: "We will leave the oilfields to the Egyptians just as we found them. We have even cleaned up the mosque for them...