Word: occidentales
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Armand Hammer seems to go on forever. Last week he formally teamed up with a people who have gone on forever, the Chinese. The 85-year-old chairman of Occidental Petroleum signed an agreement with the People's Republic for the largest Sino-U.S. deal yet: a $580...
Occidental and its American partner in the mining project, Omaha contractor Peter Kiewit Sons, will contribute about $340 million to the operation, chiefly in the form of equipment and engineering talent. China will put up another $240 million. The 30-year agreement calls for the Chinese eventually to take over...
It looked like a scene from The King and I, in which a proper English governess frantically coaches Oriental courtiers in the rudiments of Occidental custom. All week, for five hours a day, 140 uniformed Chinese waiters and waitresses marched in stiff single file through an empty hotel banquet hall...
By reselling its stock to Occidental, Mesa made a painless $12.5 million for simply hiring an army of bankers and lawyers to scare Citgo, and Pickens was excited about the possibilities. Two more unsuccessful but lucrative takeover bids by Mesa followed, and in August of 1983, having received his baptism...
Ironically, that time it was Gulf that stepped in as Pickens's savior when it looked like Mesa might just lose. Gulf offered to buy Citgo, freeing Mesa, then declined to do so. Citgo eventually went to Occidental Petroleum.