Word: petroleum
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Dates: during 1950-1959
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...addition to professional fields, the magazine includes discussions of careers in such varied areas as consumer products, finance, steel, manufacturing, insurance, and petroleum...
...Continent were cheered by prospects of warmer weather and an early reopening of the Suez Canal. But as matters stood last week, the oil lift across the Atlantic seemed to be going from bad to worse. In seven days the U.S. averaged shipments of only 454,000 bbl. of petroleum products to Europe, of which barely 183,000 bbl. daily were crude oil, far below the figure of 500,000 bbl. daily the U.S. had promised...
Everyone hopes that the current troubles add up only to a short-range problem. Barring political complications, the Suez Canal should be open for shallow-draft tanker traffic by March 1, will probably open completely by mid-May. Oilmen are also hopeful that the sabotaged Iraq Petroleum Co. pipeline traversing Syria from Iraq to the Mediterranean can soon handle 40% of its former capacity. But it may still take months before the flow of oil is back to normal. Even if the canal clearance proceeds on schedule-and the Egyptians do not decide to keep it closed after...
...Syrians said they would start the Iraq Petroleum Co.'s big pipeline pumping again only when the Israelis cleared out of Egypt. The Egyptians said they would start talking about a Suez Canal settlement if the Israelis would pull their remaining troops back from the Gaza strip and from the Egyptian forts commanding the entrance to the Gulf of Aqaba. The Israelis said they would withdraw their troops if the U.N. would guarantee that Egypt would not use Gaza for a raiding base again and the forts as a strongpoint for blockading Israel's access to its port...
...enlightened management. In 1950, seeing the handwriting writ large across the Middle East by Britain's gathering troubles in Iran, Aramco increased the Saud share in the oil profits to 50%, the Middle East's first 50-50 contract, patterned on the pact made by Creole Petroleum with Venezuela. For its Saudi employees, Aramco has built schools, hospitals, recreation halls and swimming pools. To appease Saudi pride, it has replaced Americans with Saudis as fast as Saudis can be trained. Today its payroll includes 14,000 Saudis v. 3,000 Americans. To avoid any charge of discrimination, Aramco...