Word: oils
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Dates: during 1950-1959
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...Bedouin who left off camel herding to study in Egypt and Texas, Tariki is often represented as anti-American (TIME, Oct. 27). At the University of Texas he got a master's degree in petroleum engineering, found an American wife, and then joined the U.S.-owned Arabian American Oil Co. at Dhahran. "I was the first Arab to penetrate into the tight Aramco compound," he said last week, "and I never saw such narrow people." American matrons took his wife aside and reproved her for marrying an Arab. Says Tariki bitterly: "It was a perfect case of an Arab...
...greying elder statesman of Arab oil diplomacy, Tariki is not satisfied with the 50-50 split in oil royalties and says: "It is only a matter of time before we get the same 60-40 split that the Venezuelans announced in December." When Western oilmen remind him that their contracts run into the next century, Tariki replies: "Any concession between a government and a company is not worth a damn if it does not please the people...
...Integrators. Tariki and his young assistants are no mere nationalizers; they saw how Mossadegh nationalized Iran's oil only to find that he simply could not sell it. Instead, Tariki wants to develop "integrated" operations down to the distant gas pump, with the Arabs taking a share in producing, transporting and marketing the oil. Aramco is willing to give him more money in future concessions but no part in company operations outside Saudi Arabia. Last week the talk of Cairo was about a Tariki plan for an Arab-owned tanker fleet and a new Arab-owned pipeline from...
...what made Tariki's global ambitions less of a threat to the oil companies than they might otherwise have been is the current, worldwide oil surplus, which caused crude prices to drop 18? a barrel in February (complains Tariki: "We lost $34 million and weren't even consulted"). Last week a high-powered Venezuelan deputation at Cairo urged the Arabs to join in limiting production to stabilize prices. But as always when Arabs get together, agreement was hard to come by. The Iraqis, feuding with Nasser, were not even present. And Iran, remembering how increased production by Arab...
...time to programs in Parsi than the Russians spend on any other foreign-language broadcast except English. "Foreigners are pouring into Iran like ants and locusts, depriving Iranians of their rights," cried Russia on the air. The Shah and the landlords around him are secreting millions of dollars of oil profits in New York and London bank accounts, charged one Communist commentator. At the rate the Shah is now transferring the royal lands to peasants, the job will take 100 years, added another...