Word: mobiles
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Dates: during 1970-1979
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...COMPANIES have been posting enormous profit increases-up to 90% in the third quarter for Gulf. Rising prices will surely keep profits up, but the oilmen nevertheless have problems: they may have to close some refineries because of an inability to get crude. Mobil last week announced that after Dec. 31 it will "mothball" an East Chicago refinery that has been processing 47,000 bbl. per day of crude for small independent oil companies. Small oil distributors will be really pinched. John Fiore has been supplying diesel fuel to barges, tugs and fishing boats in Boston harbor for 40 years...
Last year the two committees differed on a number of issues. The ACSR shareholder resolution that would have forced Mobil Oil's South African affiliate to institute an affirmative action program for granting equal treatment to its black and white employees; the subcommittee, which makes the final decision on how Harvard votes, abstained, saying the resolution might force Mobil to act illegally under South African...
...underlying problem is that leading oil firms such as Texaco, Mobil and Gulf are funneling most of their gas to their company-run stations and drastically slashing sales to independents. The "majors" claim that they simply do not have enough gas to go round; the independents are certain that they do. They say the big companies are sitting on supplies in hopes of driving out the competition and pushing up the cost of their cheaper brands. Station operators also complain that while prices were held down at the pump, the COLC has permitted producers and wholesalers to raise the prices...
...militant Gaddafi decreed that Libya would take over a 51% interest in all foreign-owned oil operations and pay the companies what they had actually invested, less depreciation. The companies were given until the end of September to agree, or risk 100% nationalization. Such big firms as Exxon and Mobil refused, and are seeking much larger compensation. Texaco and California Standard, which operate a joint venture called American Overseas Petroleum Ltd. (Amoseas), went further and stopped exporting crude from Libya for a time when port authorities insisted that invoices declare that the oil is 51% owned by the government...
...words were not warning enough, Libya took another in a long series of actions designed to gain control of its oil. The regime decreed that Libya would nationalize 51 %-enough for full control-of five major oil companies operating in the country, including properties owned by Exxon, Mobil, Texaco, Socal and Shell. The Libyan government also declared that the companies must raise the price of oil from $4.90 to $6 a barrel. If the oil companies give in to Libya, they may be forced to make similar deals with oil nations in the Persian Gulf...