Word: oiling
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...arrangement that Jerusalem's sharp traders were slow in getting wise to. In their first months in office, Nabulsi's leftists brought the Anglo-Jordanian treaty to an end. replaced the British subsidy by a pledge of financial help from Syria, Egypt and Saudi Arabia (which only oil-rich Saudi Arabia has so far honored), and began a systematic purge of pro-Western and royalist elements in the civil service. The overthrow of Hussein himself seemed only a matter of time...
...decline, indicated quite openly that they would prefer to see him replaced with someone else, possibly the Sultan of Djokjakarta. They also want to see Mohammed Hatta, a Sumatran currently on the outs with Sukarno, made Vice President or Premier. The alternative was a fragmenting of the country, with oil-rich Sumatra seeking some kind of autonomy. Said Colonel Simbolon confidently: "The national army is now so badly rent internally that it is unable to put anything but token pressure...
Reflecting the oil-industry bonanza caused by the Suez Canal's closing, Gulf Oil Corp. reported profits up from $2.43 to $3.20 a share, Texas Co. up from $1.27 to $1.57, Shell Co. up from $1.16 to $1.37, Standard Oil Co. (New Jersey) up from $1.04 to $1.20. And in the steel industry, where there have been some production cuts, several big companies came in with substantial profit gains. Republic Steel Corp. had the highest first-quarter sales and earnings ($1.81 a share v. 1956's $1.62) in its history. Profits were also up for Bethlehem Steel Corp...
Wyoming's Democratic Senator Joseph C. O'Mahoney, who has been sniping away for months at the foreign operations of U.S. oil firms, last week developed a new line of attack. He asked the Administration to consider imposing a tariff on oil imports, to offset "the threat to our national security" resulting from the loss of tax revenues from overseas oil operations. What Senator O'Mahoney meant in particular was the Arabian American Oil Co.'s tax arrangement with Saudi Arabia, through which Aramco last year avoided paying a penny of corporate income...
...Split. Until 1950, Aramco paid Saudi Arabia about 20% royalty on all oil profits. Then, vexed that the U.S. was getting more in income taxes on Aramco profits than Saudi Arabia got in royalties, and spurred by a 50-50 oil-profit split in Venezuela, King Saud decided that Saudi Arabia should get 50% of the oil profits. But instead of increasing royalties, Saudi Arabia passed an income tax which, together with royalties, would take half of Aramco's profits...