Word: oilfields
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...ancient Iranian Moslem shrine city of Qum, oilmen gathered from all over the world last week. Their objective was to survey and if possible get a concession on a new oilfield which the Iranian government hopes will surpass the oil output of all the rest of the Middle East...
...Long Beach rejoiced to find that it was sitting on top of the Wilmington oilfield, the richest in California, which has yielded $1.25 billion in 21 years. The town, on Los Angeles' southern edge, grew black with close-standing derricks and loud with never-sleeping pumps, but no one objected much...
...predictions: ¶ Borg-Warner Chairman Roy Ingersoll, who is spending $26 million for expansion this year: "We have good reason to anticipate improvement in 1957 in many of the industries which Borg-Warner serves. Sales are on the upcurve in automotive and farm-equipment parts, chemicals, aviation components and oilfield tools." ¶General Shoe Corp. Chairman W. Maxey Jarman: "People are buying freely. Employment is good. Retail business will definitely be up this year. I can see no signs of a recession or depression." ¶ Walgreen Co. President Charles R. Walgreen Jr.: "There are no signs of a recession...
...William K. Whiteford, 56, president of Gulf Oil Corp., officially becomes chief executive officer with the retirement of Sidney A. Swensrud, 56, as chairman of the board, a post that will be discontinued. Burly, aggressive Bill Whiteford, who started as an oilfield roughneck out of Stanford University, was brought into Gulf in 1951 from the presidency of Canada's British American Oil Co., Ltd., made chief administrative officer in 1953 under Swensrud, who moved up from president to board chairman. Whiteford shook up Gulf's management, strengthened its domestic and Western Hemisphere holdings, firmly but unofficially took over...
...bids soaring was the promise of the biggest oil pool in the West, under the barren Navajo buttes and mesas. Texas Co., which had started exploring the area about three years ago, recently drilled its exploratory Navajo C-4 well on tribal land located between the big Aneth oilfield in San Juan County, Utah and another series of proven wells farther south. Texas Co. wanted to find out how far the Aneth field went and whether the two pools might be connected. Though Texas Co. tried to keep the well secret, every oilman suspected that something big was happening...