Word: mobilize
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...arrival marked a milestone in Russia's mounting offensive to drive Western oil companies out of their traditional overseas markets, came just as the battle forced Western firms to cut their prices to meet Russian competition. Items: ¶Four major Middle East oil producers -British Petroleum, Shell, Mobil, and the Compagnie Franchise des Petroles-cut their posted crude-oil prices, following the lead of Esso Export Corp. ¶Under pressure from price cuts in India (TIME, Aug. 22), British and U.S. companies reduced bulk prices on petroleum products in Pakistan by an average 7%. ¶Ceylon's Prime...
TURKISH OIL FIND near Adana by Socony Mobil yielded biggest flow (240 bbl. a day), best quality oil yet found in Turkey. The gusher rouses hopes that oilmen have struck edge of vast reservoir whose oil might end a major import drain on Turkish economy...
...Socony Mobil...
Permitted to participate in the Mobil-gas contest only since 1957, womankind furnished 20 of the 56 drivers in the 1960 run. Among them were a grandmother, seven housewives, a bobbysoxer, a women's-club president, a would-be astronaut and a cafe singer. The run is publicly billed by automakers as a true test of miles-per-gallon efficiency. But most of Detroit agrees that the skill of the driver makes about a 25% difference. Last week, in the top three of the competition's six classes, woman drivers took two firsts, one second...
...many impoverished young nations. Assured of a $35 million credit from Russia, he cut Guinea's ties with the French franc, announced Guinea henceforth would have its own currency which, by terms of his own decree, has no value in foreign trade. Dismayed, Shell, Texaco and Socony Mobil were mulling over whether it was worth it to stay. At the big Fria Alumina Works (48.5% owned by the U.S.'s Olin Mathieson Chemical Corp.), 300 European workers went on strike, halting production, seeking some guarantee that their paychecks would really be worth enough any more...