Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...traders skimmed it off for their cook fires, scooped up fistfuls of the rich black muck to waterproof their boots. But to commercial oilmen, the potential of the Great Slave oil has long been only a tantalizing dream. No one had much encouragement until this year. Then Phillips Petroleum and Home Oil Co., which were exploring in the Peace River area far to the south where oil had already been found (see map), brought in three wildcat wells near Lesser Slave Lake in a previously untapped rock formation that was the same as that at Great Slave Lake. The discovery...
Died. Hugh Roy Cullen, 76, Texas millionaire and philanthropist, founder-head of the Quintana Petroleum Corp., largest independent oil company in the Southwest, who gave away something like 90% of his estimated $200 million fortune; of cerebral thrombosis; in Houston. Texas-born of poor parents, Cullen left the third grade to work in a candy factory, dabbled in cotton and real estate, then (1930) as a wildcatter, struck deep into the 500-million-barrel Rabb's Ridge oil field, 50 miles from Houston. His method: to take wells others had given up, and drill deeper. After...
...recently as 30 years ago, once powerful Brunei was a starving and disease-ridden nation of benighted tribesmen and headhunters, with a yearly income of only $80,000. At that time engineers from the British Malayan Petroleum Co., a Shell associate, were busy sinking exploratory shafts into what was to be the richest oilfield in the Commonwealth...
Last week Texas Eastern was off again on another big deal. It won Federal Power Commission approval to spend $35 million on converting 1,168 miles (from Baytown, Texas to Moundsville, W. Va.) of the Little Big Inch line to petroleum products, including construction of a $13 million, 230-mile additional 14-in. spur from Seymour, Ind. to Chicago. To continue its present gas deliveries to the East, Texas Eastern will spend another $61 million on loops and compressors primarily along 453 miles of its 30-in. line from Beaumont, Texas to Uniontown...
...Midwesterners, whose 500,000 bbl. a day petroleum consumption is rising 20% a year, the Chicago spur holds high promise of reversing the present pattern of costly refining in congested market areas. By becoming an independent common carrier, Texas Eastern can ship the lower-cost products of Gulf Coast refineries on a steadier basis than slow, crude-hauling Mississippi River barges, and at as much as 30? a barrel less...