Word: petrolera
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...Manhattan, have charged 30 companies and 37 individuals in eight states and Panama with illegally selling oil futures contracts. These commit the buyer to purchase petroleum for either delivery or resale by an agreed date. The firms-among them, International Petroleum Exchange Inc., Bartex Petroleum Corp. and Comercial Petrolera Internacional S.A.-are specifically accused of using false promotional material, failing to disclose risks and defrauding customers in at least 31 states. The ripoff: as much as $30 million...
Overlooked in the cheering was the fact that Peru's problem has merely been postponed. The burden of action now rests with the junta. The U.S. does not refute Peru's right to expropriate. Indeed, this would be pointless, since the government's Empresa Petrolera Fiscal is operating IPC's Talara refinery with Mexican assistance, and is ripping down Esso gas-station signs in favor of its own brand name Petroperu. Nor does the Nixon Administration quibble with the reimbursement-at $71 million-that Peru is willing to pay. But the U.S. firmly opposes the blue...
...great hardship. By last week, although none would admit as much-or much of anything-these companies looked like the major entrants in the forthcoming race for Cuba's oil: Atlantic Refining's subsidiary, with slightly under 740,000 acres in all provinces except Oriente; Cia Petrolera La Estrella de Cuba, subsidiary of Royal Dutch Co., with 44,460 acres in Havana and Matanzas provinces; Union Oil of Cuba, and Sinclair Cuba Oil Co. with increasing acreage spotted throughout the island. If any of these companies strike deep production- long suspected in Cuba's lower Cretaceous (Chalk...
...good reason to cheer. A 3,250-page, nine-volume decision in their favor was handed down by a special commission named by the Board of Arbitration to investigate Mexico's oil industry. It aimed to settle the long-simmering dispute between the Sindicator de la Industria Petrolera, employers' syndicate, and the 18,000 oil workers...
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