Word: nigerias
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Dates: during 1970-1979
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Both the surpluses and the deficits will drop when the OPEC countries expand their buying, lending and investing abroad. In stepping up their domestic development plans, they will have to enlarge their imports. This can be accomplished fairly easily by seven of the OPEC members: Iran, Venezuela, Indonesia, Iraq, Nigeria, Algeria and Ecuador. They have relatively big populations and much poverty?hence much need for internal development. The huge problem is that six other, lightly populated Arab states?Saudi Arabia, Libya, Kuwait, Abu Dhabi, Dubai and Qatar?are collecting far more money than they can possibly spend. These six, embracing...
Major participating artists include Americans Charles White and Ernest Crichlow and Nigeria's Z.K. Olorumtoba...
Canada is one of the three largest foreign suppliers of crude oil to the U.S. It ships 800,000 bbl. daily to northern-tier states and the Midwest, accounting for 20% of U.S. imports, about equal to inflow from Nigeria. Last week the Canadian National Energy Board issued a report showing that the country could lose self-sufficiency by the early 1980s if exports to the U.S. continued at present levels. Accordingly, Ottawa's Minister of Energy, Mines and Resources, Donald S. Macdonald, announced that exports to the U.S. would...
...International Monetary Fund, the 13 members of the Organization of the Petroleum Exporting Countries had piled up by Sept. 30 more than $38 billion of monetary reserves, or an awesome 19% of the world total, v. $13 billion, or 7% of the global total, a year earlier. Nigeria's reserves multiplied nine times, to $4 billion; Iran's six times, to $6.3 billion. Saudi Arabia's reserves nearly tripled, to $11.5 billion, making it fourth in the world behind West Germany, the U.S. and Japan...
...skeptics place the reserves as low as 1 billion bbl., which would have significance only to Mexico. But other estimates, including the one now accepted in Washington, cluster around 15 billion bbl. If that figure proves to be correct, it would rank Mexico in about the same class as Nigeria among the heavyweights of world...