Word: oiling
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Dates: during 1950-1959
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...told, Mattei's ENI produces only 200,000 tons of oil a year in all of Sicily and Italy, and Italy must spend $510 million to import enough oil for its needs. From its Ragusa field alone Gulf expects to produce 1,600,000 tons this year, eight times as much...
...consumers, the lag in the commercial nuclear program is no great worry. With plenty of coal, oil and gas, the U.S. can afford to wait. But what may not be economic for the U.S. is often economic for other nations with less resources. Britain, whose conventional-power costs are estimated at double those in the U.S. (7½ mills per kw-h), needs nuclear power right now; so do many other nations. Britain is going ahead under a nationalized program to build the actual power plants. It has been operating its Calder Hall plant, half again as big as Shippingport...
Across nine states, from Texas to Iowa, some 1,300 gas stations in the next few weeks will break out in a bright new color scheme-the shiny blue-and-white gas pumps of a bustling Belgian-born newcomer, American Petrofina. The first major foreign investor in U.S. oil since Shell, Petrofina has grown from only a plan on paper to $100 million in assets in less than two years, now feels strong enough to put its own "Fina" brand name on the gas stations it has picked...
This week it closed the third major deal of its move into U.S. oil with the purchase of the oil holdings of Floyd Odium's Atlas Corp., for about $20 million, in a cash and stock swap. This deal runs its oil reserves up to 40 million bbl., gas to 275 billion cu. ft., crude production to 10,000 bbl. a day, and refinery capacity...
...when the Communists nationalized its Rumanian oilfields, Petrofina swapped its license to refine in France with British Petroleum for a guaranteed supply of crude, revitalized affiliates, merged, swapped and bought outright until it has now expanded into 63 affiliates in 23 countries, selling some 150,000 bbl. of oil...