Word: oiling
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Dates: during 1950-1959
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...Hills. The present Sultan, eleventh of his line, is Said bin Taimur, 46, a portly greybeard who was educated at a college for princes in British India, writes precise letters in English on crested blue paper, reads the airmail London Times delivered by the R.A.F., and understands perfectly what oil could do for his depleted fortune...
...early 1950s he granted a British-run subsidiary of the Iraq Petroleum Co. a concession to drill for oil in the Omani hinterland. But he was not quite master in his own house. The fanatic Ibadhis in the hills, resentful of the Sultanate rule, had long ago elected a new dynasty of Imams and in 1920, after decades of hard fighting had won from the then Sultan a grudging acknowledgment of the Imam's rule in the mountains. So when two years ago the Sultan's foreign oil drillers went to work near the northern border, the Imam...
...British were quickly convinced that the modern equipment came from King Saud's arsenal, even though that Saudi Arabian potentate, as if indifferent to the whole affair, was off in Ethiopia calling on Haile Selassie. They also feared that the U.S. would naturally side with Saudi Arabia, whose oil concessions are wholly American-but the fact is that U.S. oil money dominates even the areas where British protection prevails: U.S. companies own 50% of the stake in Kuwait, 100% in Bahrein, the Neutral Zones and Dhofar, 23.75% m Muscat and Oman...
Three huge derricks have gone up on a 17-square-mile triangle at Hassi Messaoud, and high-grade oil has been penetrated in a 450-ft.-thick layer at 12,500 ft. Estimated capacity of the field: 300 million tons (15 times France's yearly petrol consumption). It is planned to have 20 wells operating by the end of 1958. The excitement of bringing in the big "bear cats" does not disturb the calm of the bespectacled chief engineer, Christian Redron, who wears nothing but khaki shorts and sandals on a skinny frame burned to leather...
...gang of wildcatters toiling after oil in the broiling Sahara sun found themselves regarded last week as France's best hope of the future. Their latest dramatic find, tapped and capped at Hassi Messaoud, in the southeastern quarter of war-torn Algeria, skyrocketed shares of the Compagnie Française des Pétroles from 34,000 francs last year to 61,000 francs two weeks ago. From Hassi Messaoud and neighboring Algerian fields recently opened, there was now the promise of an assured yield of 60 million bbl. of oil a year. (Controlled 1956 production by U.S. wells...