Word: petroleum
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Dates: during 1960-1969
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When they got home, they made many policy changes. No longer in any new venture must Indians hold majority stock control. No longer are such fields as petroleum and synthetic rubber to be dominated by the "public sector," i.e., state-owned. American investors have been guaranteed dollar compensation if the Indian government should decide to expropriate a business. A new flock of tax incentives has been introduced, including a virtual tax holiday on profits during the first five years...
...Imam whom the British worry about. He is the chief threat to the garrison post from which they watch over their Persian Gulf oil interests. Reassured, the British are now preparing to create a second federation in Aden's even emptier Eastern Protectorate, where the British-run Iraq Petroleum Co. hopes to find...
...producers throughout the Arab world heard of the Japanese strike with some dismay. New oil discoveries have already helped saturate the market, threaten to drive petroleum prices down. In spite of the glut, the search for new fields gallops along in the Mideast and North
...Middle East. Examples: ¶ In Yemen the American Overseas Investment Corp. was exploring a 10,000-sq.-mi. concession in the northwestern coastal plain. It had beaten out the Japanese and the Italians for Yemen rights. ¶ In the Persian Gulf sheikdom of Abu Dhabi, a subsidiary of British Petroleum Co. Ltd. and Compagnie Franchise des Petroles brought in a well that tested out at 2,400 bbl. daily...
...remote sultanate of Muscat and Oman, Dhofar Cities Service Petroleum Corp. was punching dry holes all over the sere, cheerless wastes, but was still hopeful of hitting a gusher...