Word: oiled
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Dates: during 1960-1969
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...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 treason...
...fishing-boat row distracted attention from the more serious dispute between the U.S. and Peru-the seven-month wrangle over oil. Just six days after overthrowing the government last October, Velasco and his junta confiscated most of the available assets of the International Petroleum Co., a subsidiary of Standard Oil Co. (New Jersey). This should have brought into force the Hickenlooper amendment to the Foreign Assistance Act, which would cancel all aid funds, but Washington held off because the matter was still in litigation, with I.P.C., backed on principle by the State Department, demanding just compensation. The Peruvians maintain that...
What is as long as four football fields and big enough to carry three quarts of beer for every American over 18? Answer: any one of four Gulf Oil tankers, each of which can haul 326,000 tons of oil. They share the title of world's biggest tanker-but not for long. A tanker with a capacity of 372,000 deadweight tons (d.w.t.) will float out of a Japanese yard in 1971. Thereafter? Shipbuilders can make a tanker as capacious as anybody wants, but the idea hardly enchants them. They have problems enough building anything above...
Haulers are demanding ever larger ships, and builders have to meet the orders so that competitors will not run away with them. Since 1968, the oil companies have put into service twelve ships of 200,000 tons or more-called "oilbergs"-and they have 170 more on order in yards from Bilbao to Yokohama. Last week California Standard contracted for a pair of 260,000-tonners from Japan's Mitsubishi. Britain's Scott Lithgow group two weeks ago landed its first order for an oilberg, a 250,000-tonner to be constructed for Anglo Norness, a Bermuda-based...
Toward a Million. The oil companies want bigger tankers because huge capacity makes it economical for their ships to bypass the blocked Suez Canal and lumber around the Cape of Good Hope to Europe or the Americas. The transport costs run to about 400 per bbl. in a 200,000-d.w.t. ship, compared with 520 in a 70,000-tonner. Each big ship can save a company about $1,000,000 a year in hauling costs...