Word: oiled
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Dates: during 1980-1989
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...banks and debtor nations. Last September Brazil signed a package worth $82.1 billion that includes an $8.3 billion net reduction in debt in 1988 and 1989, and $5.2 billion in new money. Venezuelan economic officials are considering a novel way to raise $1 billion that would make future oil sales a guarantee against new credits...
...union with North Yemen, its bigger, more conservative and Western-oriented neighbor. Al Attas regards the merger as his country's "crucial" issue. "We are all Yemenis," he says. "We find it very important to raise the level of cooperation between our two countries." To that end, a newfound oil concession near the North Yemen border has been earmarked for joint development. The border is now open, plans for a combined power grid have been drawn, and a fresh draft of a unified constitution is almost ready for ratification. But past relations have been so rocky that skeptics doubt that...
...Oil is the grease not just for diplomatic outreach but for South Yemen's attempts at bootstrap development. In 1987 Soviet geologists discovered a little of the black gold beneath the desert sands near Shabwa. When the first wells begin gushing in 1990, the area may produce up to 70,000 barrels a day. That small but steady output will bring $240 million a year into South Yemen's treasury...
...Soviets' major practical contribution has been prospecting for and developing oil. Eight Russian rigs are drilling in Shabwa, and the Soviets are searching out more untapped desert pools. Now the Yemeni government is urging Moscow to speed up other large projects long promised. The Kremlin has been slow to finish a $450 million power plant begun eleven years ago. But after a row in Aden last June, trained Soviet labor began arriving, bringing the imported contingent of skilled workers to more than...
...Yemenis are also cautiously looking West for more help. Canadian and French oil companies have signed contracts for oil exploration and drilling. And for the first time since British rule ended, Western businessmen are again traveling to Aden to invest in the government's ambitious plans...