Word: occidentale
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Last week Bhutto, 47, talked at his home in Larkana with TIME'S New Delhi bureau chief William Smith about Pakistan's problems; he had flown there to celebrate the Moslem holiday of 'Id al-Adha before making a four-day state visit to Sri Lanka. Sipping...
Libya. The operations of six companies have already been 100% nationalized, and the government has taken majority stakes in eight others, including Mobil, Exxon and Occidental. In addition Occidental and Libya last week settled a dispute over production levels in two Libyan fields; the dispute had threatened to jeopardize a...
In all his flamboyant career-as a pencil manufacturer in the Soviet Union in the 1920s, whisky dealer, art collector and oil magnate in the U.S.-Ar-mand Hammer has probably never had a worse week. First, the 77-year-old chairman of Occidental Petroleum Corp. pleaded guilty in a...
The dispute with Libya is a complex affair. In 1972 Libya nationalized 51% of Occidental's subsidiary there. Since then, Oxy complains, Libya has restricted production to the point that the company cannot fulfill its commitments to customers. Last month Occidental notified the Libyans that it was filing suit...
Occidental complained to the State Department, and a spokesman said the department is "looking into the matter urgently." At week's end Occidental announced that it will resume negotiations with the Libyans in New York this week-but there was no word whether the 520 employees would be released...