Word: oilfields
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Dates: during 1960-1969
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...Wages of Fear is about four men who are employed by some pretty unattractive American big businessmen who run an oil company in South America. Their harrowing task is to transport truckloads of nitroglycerine to an oilfield to blow out a blazing fire there. Clouzot takes great pains in getting across the proper atmosphere. The first half of the film or so is devoted to probing the squalor, primitivism, and baseness of the town. Clouzot had spent some time in Brazil working on a documentary, and his intimate familiarity with the repellent conditions in towns used as bases for American...
...British view, a merger between BP and Sohio is as logical a combination as prosciutto and melon. The North Slope strike and the Sinclair acquisition, says BP Chairman Eric Drake, left BP "with an oilfield at one end of the country, a market at the other, and Sohio in the middle." Sohio, which has some 3,500 gas stations in the Midwest, is renowned for its refining and marketing organization, but it has not had access to enough crude oil to permit expansion. So the companies .agreed to have Sohio take over BP's U.S. marketing, with BP supplying...
...losses were due partly to huge damages paid on a rare combination of hurricanes, air crashes, U.S. race riots and oilfield fires. A deeper reason was that in those years, premium rates of much of the insurance business -with the exception of long-term life, which Lloyd's does not carry -were unrealistic. The rates failed to keep pace with soaring repair costs and the proliferation of bigger jet aircraft and giant oil tankers. "Inflation and technological revolutions all caught up with the underwriters," says Lloyd's Chairman Henry S. Mance...
Some new entrants in the field have novel ideas for handling riots. Fort Worth's Western Co. of North America, an oilfield-service firm, has developed a slippery powder called Instant Banana Peel, which is guaranteed to turn any street rumble into a sit-in. Baltimore-based AAI Corp.. a defense contractor, has come up with a tear-gas grenade with two crowd-control virtues: it has no shrapnel hazard, and it expels its chemicals in seconds-before it can be picked up and pitched back at the police. A company official says that its grenade sales doubled...
...primarily because he did not want to antagonize Standard Oil (New Jersey), of which IPC is a subsidiary, the U.S. Government and potential foreign investors. But finally, this year, hopeful of improving his shaky political position, he did take over IPC's La Brea y Pariñas oilfield. The deal negotiated with the company was hardly the usual sort of expropriation, and Belaúnde's opponents later charged that it did not offer sizable advantage to the country. Among other things, the company-long seen by Peruvians as an ogreish exploiter-was given new mandates...