Word: oilmen
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...Kiel are turning out drilling platforms to overcome a worldwide short age. All this activity is a result of the mammoth pocket of gas that was discovered in 1959 by Esso and Shell in the coastal Dutch province of Groningen near the German border. Seismic tests have since convinced oilmen that the North Sea may contain the world's biggest bubble of natural gas. Though drilling has so far yielded nothing further off the Dutch coast and only inconclusive results in German waters, the scramble to find the undersea riches now involves at least 85 companies...
...American oilmen, the crudest cut of all has just been announced: a $9,300,000 deal with Moscow for 1,500,000 barrels of diesel fuel and 2,500,000 barrels of crude...
Meanwhile, Ben Bella has been courting both Western and Communist oilmen to reduce his dependence on France. Soviet experts are training 650 Algerians as oil technicians at a school near Algiers, and a U.S.-British-French combine has just opened a $64 million plant at coastal Arzew to freeze natural gas and ship it to fuel-shy Britain in insulated tankers. Italy's giant ENI plans to build a refinery at Arzew on a fifty-fifty basis with Ben Bella...
Plenty for King Idris. No such political quicksand threatens oilmen in Libya, where relations with the government have been stable and happy (with fifty-fifty profit-sharing) ever since Standard of New Jersey brought in the first big field in 1959. Since then, output has shot up so fast that Libya now ranks eighth among the world's oil-producing nations, and this year's $250 million oil income will account for 80% of King Idris' revenues. Of 20 companies active in Libya, 13 are American...
...Oilmen have invested $1.3 billion...