Word: petroleum
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Dates: during 1960-1969
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Gray Mackenzie padlocked its doors, and the poisoning cases began to stagger in as sales of after-shave lotions and cologne soared tenfold. Several dozen British and American petroleum engineers served notice that they would not renew their employment contracts if Kuwait stayed dry. Several influential Kuwaitis have applied to remote countries for posts as honorary consuls, hoping thereby to qualify for diplomatic liquor privileges. Many of the thirsty began flocking to Basra in Iraq, 100 miles from Kuwait City. Their pilgrimage has also produced agitation for repeal of the law from their weekend widows left behind. They fear that...
Born. To Inés Cuervo de Prieto, 35, Venezuelan housewife who in September 1963 gave birth to Latin America's second set of surviving quintuplets; and Efrén Lubín Prieto, 39, worker for Creole Petroleum Corp.: twin girls, their eighth and ninth daughters, 21st and 22nd children; in Maracaibo, Venezuela...
Middle East oil is the cheapest and most plentiful in the world, but from now on international oil companies will have to pay more for it. Last week, after two years of haggling, the Organization of Petroleum Exporting Countries (OPEC) finally reached an agreement with the eight largest companies operating in the Middle East to increase royalties to host governments-4? a bbl. more on 1964 production, rising to 6? by 1966. All the area's major oil countries except Iraq have ratified the agreement, from which they stand to gain more than $100 million in added revenues...
From a giant offshore drilling rig buffeted by gale winds and 20-ft. waves, crews of the American Overseas Petroleum Ltd. last week began boring into the shallow center of the North Sea. Their quest-for natural gas to supply fuel-shy Europe-will be one of the world's most closely watched explorations. The wildcat operation off Dogger Bank, a favorite ground of herring fishermen, is the first to probe Britain's portion of the continental shelf. It is involved in a prospecting race that has roiled the waters of the North Sea and shows promise...
...best-known image of desert oil is that of such places as Saudi Arabia and Kuwait; the Middle East does, in fact, account for a quarter of the world's petroleum output. But as the sheiks grab bigger and bigger slices of oil revenues, producers have been busy developing alternative resources closer to the oil-hungry European market. The big gest of these now lie in the Algerian and Libyan Sahara, where drilling rigs, tank farms and smoke-plumed refiner ies give a modern industrial look to the ancient face of the desert...