Word: oils
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...petroleum paralysis, the economy remains as vulnerable as ever to upheavals in faraway lands. All winter long the turmoil in Iran has brought chilling reminders of that fact, and last week came some of the scariest yet. It was hard to tell which were more frightening: signs that oil prices were about ready to leap again, or Washington's seeming impotence and inaction...
Indeed the Administration was savoring a rare bit of encouraging news from Iran. After four months of revolution that cut its export production from 5.5 million barrels a day to zero, the country's 27,000 drillers, engineers, technicians and other oil workers began returning to their jobs. In the fields of Marun and Ahwax Asmari, in the refineries of Abadan, and at the pumping center of Ahvaz, precious petroleum is beginning to flow anew as the industry struggles to resume limited export production...
...other members of the 13-nation OPEC cartel. Now as in 1973-74, the danger is that rocketing fuel prices will aggravate inflation, force governments to fight back by clamping down on domestic growth, and for the second time in a decade plunge the world economy into an oil-greased slide...
...Caracas, Valentin Hernandez, Minister of Energy and Mines, summoned apprehensive oil company executives to his office and bluntly told them that Venezuela intended to lift prices an average 14% on all its oil exports. Later, the government announced that it would increase only the cost of heavy fuel oil, which accounts for much of the country's exports. Oilmen now expect that the broader crude oil increases will be formally posted later this month when existing three-month contracts are about to expire. For the U.S., which relies heavily on Venezuelan imports, the increases already announced could add from...
...Kuwait, Oil Minister Sheik Ali Khalifa al-Sabah declared a price increase of 9.3%, retroactive to Feb. 20. He blamed the decision on what he called price profiteering by oil companies, implying that if Big Oil was somehow ripping off the public, Kuwait was going to get in on that game...