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...stations, will not require the British company to lay out a shilling now; the price is to be financed largely out of BP's eventual revenues from the sale of Alaskan crude. The combination would create a company able to compete aggressively against oil giants like Jersey Standard, Mobil and Texaco. As London's Financial Times commented last week: "The tragedy is that [U.S.] antitrust legislation was devised to encourage competition in the U.S. Yet the manner in which it is being implemented is having the effect of deterring European companies from entering the U.S. and so bringing...

Author: /time Magazine | Title: Antitrust: Blocking the British | 10/17/1969 | See Source »

...first six tracts, a combine of Gulf Oil, British Petroleum and its Alaskan subsidiary bid $97 million. Another tract, just southwest of Prudhoe Bay, brought the highest single bid of the day, submitted jointly by Amerada Hess and Getty Oil: $72,277,133. A rival consortium of Phillips, Mobil and Standard Oil of California had bid a scant $164,133 less. Having underestimated on one tract, the same group decidedly overestimated on another, making a bid of $18,130,000. The next highest bid was a nominal...

Author: /time Magazine | Title: Business: THE RICHEST AUCTION IN HISTORY | 9/19/1969 | See Source »

...quality motor oil is only 80% to 85% petroleum; the rest is a complex blend of chemicals that are added to keep it from thinning out, prevent engine deposits and neutralize the acids that are byproducts of combustion. The big oil companies - such as Gulf, Mobil and Texaco - work close ly with auto producers to devise formulas that will meet the specific needs of each engine, depending upon its horsepower and the climate in which the car is usually driven. Still, many motorists attempt to outguess the experts by using additives, which are usually made by companies other than...

Author: /time Magazine | Title: Autos: Big Profits in Little Cans | 8/8/1969 | See Source »

...wide range of recommendations, but the process has resulted in an incredibly homogeneous body. Four lawyers, three of them with extensive financial interests which have been repeatedly publicized by radicals, serve on the Corporation; the fifth Fellow, A.L. Nickerson, is a Republican from New York who heads the Mobil oil company. With the exception of the youngest Fellow, Hugh Calkins from Cleveland, the Fellows maintain nearly identical life-styles in a select and self-contained world. For example, they share membership in the same exclusive clubs in Boston and New York; although Samuel Eliot Morison, who wrote authoritative histories...

Author: By Jay Burke, | Title: Loosening the Grip--The Corporation In Spring, 1969 | 6/12/1969 | See Source »

...East Berlin's opposition to Israel, and announced its intention of sending a mission to Moscow to seek arms. At home, the new rulers hinted at nationalizing "local capital with imperialist connections," which could only sound ominous to the owners of Sudan's British Petroleum, Shell and Mobil oil interests. The military character of the regime, moreover, probably also means a stepped-up campaign against the blacks in the south. Even in the capital, the coup may not long remain bloodless. The new government announced that it will try the deposed civilian politicians-including Sadik Mahdi-for high...

Author: /time Magazine | Title: Sudan: Step to the Left | 6/6/1969 | See Source »

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