Word: oils
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Dates: during 1970-1979
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...addition to the individual marketeers, several dozen oil companies trade in the spot market. They are not the well-known and much-criticized oil majors but smaller outfits like Monte Carlo's Essex Oil and Rotterdam's Nedol, Vanol, Petrosun and Northeast Allied. There are also specialized commodity trading firms like Marc Rich & Co. Such firms like to keep their dealings-and those of their clients-top secret. At Rich's Park Avenue offices in Manhattan, backroom telephone trading operations are conducted behind locked doors that are electronically controlled by a receptionist at the front desk. Queries...
...Iranian uprising has prompted among the industrial powers a complicated wariness, along with the anxiety and attentive respect due to the world's second largest exporter of crude oil. Without the wealth buried in Iran, much of the fascination would vanish. Since most of the world was unprepared for the uprising and ignorant of Iran's internal stresses, it is difficult for outsiders to know what to make of the revolution. Iranians themselves are no longer certain. Nearly everyone who has carefully watched the event agrees on two propositions...
...rancher, Bartlett was elected his state's first Roman Catholic (and second Republican) Governor in 1966, and after losing a re-election bid four years later, won his Senate seat in 1972. Deeply conservative, he became best known in Washington as the Senate's staunchest defender of oil and gas company interests. Aware of his illness, Bartlett chose not to seek another term, retiring from the Senate in January...
Peking has agreed to buy nuclear reactors from France, a steel mill from Japan and oil drilling equipment from the U.S., and hundreds of other sales are under discussion. The cumulative import bill could easily exceed $40 billion...
Blumenthal came under considerable pressure from his hosts to help get China most-favored-nation status, which would cut U.S. tariff barriers. But China's immediate export potential is modest. The size of the country's mineral and oil reserves is uncertain, and they cannot be quickly exploited. Joint ventures will help, and the most likely schemes will give foreign companies a 49% stake if they put up the cash and expertise in exchange for a share of future production. Talks along these lines are already going on with major U.S. oil companies, which want to explore offshore...