Word: petroleum
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Dates: during 1950-1959
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...Year. He put Scheherazade in the petroleum business and oiled the wheels of chaos. His acid tears dissolved one of the remaining pillars of a once great empire. In his plaintive, singsong voice he gabbled a defiant challenge that sprang out of a hatred and envy almost incomprehensible to the West...
Like most of Asia, in the days before Mossadegh, India lit its lamps and powered its gasoline engines largely with Abadan petroleum. Then Abadan shut down. India, pinched for oil (it had to cut civil air traffic 20%), awakened to the fact that it was refining only about 6% of the oil it consumed...
...second biggest chemical company (first: E. I. du Pont de Nemours), Union Carbide has pumped $500 million into new plants and products. Last week Union Carbide announced another whopping expansion. From the Prudential and Metropolitan Life insurance companies it borrowed $300 million to step up its output of petroleum products, plastics, iron alloys and its new wool-like synthetic fiber, Dynel. If it can get materials, Union Carbide will build at the rate of more than $100 million a year...
...C.C.A. is trying to shift expansion away from petroleum products which are 69% of its sales. It wants to boost sales in farm machinery, fertilizer, food and home appliances. By doing so, it expects to hit annual sales of $100 million...
...employee: Guillermo Zuloaga, 47, brilliant geologist and administrator, elevated this month to Creole's board of directors. Stocky, incisive Zuloaga, who earned a Ph.D. at Massachusetts Institute of Technology, taught geology in Caracas' Central University and set up the government bureau known as the Ministry of Mines & Petroleum. Then, in 1939, Zuloaga went to work for Creole as assistant chief geologist...