Word: petroleum
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Dates: during 1950-1959
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Miller first met Oilman Alfred Jacobsen last March when he was working on a story about Amerada Petroleum Corp.'s successful wildcatting in the Williston Basin (TIME, March 24). Impressed by Jacobsen's candor and executive ability and by Amerada's phenomenal success, Miller later suggested Jacobsen as the cover subject for a story on the oil industry...
...tinkle of expensive glassware mingled with the murmur of subdued conversation and the swift, deft movement of red-coated waiters in the grand ballroom of London's Grosvenor House one day last week. Distinguished guests sipped and chatted at the invitation of the Iraq Petroleum Co., to celebrate the opening of a $115 million new 30-inch pipeline to the Mediterranean that promises to more than triple the output of Iraq's oil. The assembled guests watched a movie of the pipeline's construction, and applauded vigorously at the progress it augured. "You can be bloody sure...
Almost all the applications are for areas in the Sechura desert, just south of the long-established north coast field at Talara (output: 33,000 bbls. a day). International Petroleum, a Canadian subsidiary of Standard Oil (N.J.) which operates Talara, is a major Sechura bidder. Other foreign applicants: Peruvian Gulf, a subsidiary of Gulf Oil Corp.; Richmond Petroleum, subsidiary of Standard Oil Co. of California; Conorada, jointly owned by Continental Oil, Ohio Oil and Amerada Petroleum Corp., principal wildcatter in North Dakota's new and gushing Williston Basin. All of these except Peruvian Gulf have asked for both exploration...
First Thoughts. Oilman Davies first became interested in American President in 1945, when he was leaving his wartime job as deputy petroleum administrator in Washington. Davies' old post as $57,500-a-year senior vice president of Standard Oil of California was no longer available. Looking around for other possibilities, he spotted American President, which the Government wanted to sell. When a bid for $8,500,000 was rejected as too low, Davies began buying up stock, accumulated 25% of the line's publicly held shares, and was made a director...
Last week, with building restrictions eased, Highwayman Johnson added three new states to his territory. He put the final O.K. on plans for five new restaurants along Oklahoma's Turner Turnpike, to be built by Phillips Petroleum and leased to the Johnson company. A new Howard Johnson's will be opened next week in Atlanta; another is abuilding just south of Louisville, Ky. By next spring at least 20 new links will be forged in the chain, including restaurants in Los Angeles and Montreal...