Word: oils
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Dates: during 1970-1979
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TEHRAN--Thousands of oil workers launched a new round of work slowdowns Monday, further endangering Shah Mohammed Reza Pahlavi's position by diminishing Iran's all-important oil revenue, sources said today...
...least six U.S. oil firms, including Exxon, Phillips Petroleum and Union Oil, have sent top-level delegations to Peking to discuss possible joint ventures. The theme of all the talks was the same: China would own any oil that was found, but the firms, in exchange for their technological expertise, would win the right to buy some oil at below OPEC prices...
...Congress began to ban nonrecourse financing of investments in movies, farming, cattle raising, equipment leasing, and oil and gas drilling. In these deals people now may deduct as losses only the amount that they had personally put up or had at risk. The 1978 tax law extends that at-risk rule to investments in coal mining, master recordings, toy molds, lithograph stones and a host of other rapidly depreciable properties, many of which shelter promoters had dreamed up since the '76 crackdown. In addition the IRS has been taking a much harder look at so-called partnerships lately...
Even without nonrecourse financing, oil and drilling deals are still attractive...
Bolstered by profits from newly developed North Sea oil ventures, the Thomson Organization is clearly capable of withstanding a protracted closure. Although he takes pains to deny it, Company Chairman Kenneth Lord Thomson of Fleet, 55, is said to be less sentimentally attached to the papers than was his late father, Roy, the first Lord Thomson, who considered the acquisitions of the Times (est. 1785) and the Sunday Times (est. 1822) to be the pinnacle of his career...