Word: petroleum
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Dates: during 1970-1979
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PACIFIC News Service (DNSI)-Recently declassified Air Force testimony before the Electronic Battlefield Subcommittee of the Senate Armed Forces Services Committee suggests that a major reason for the recent invasion of Laos by South Vietnamese and American military personnel is the destruction of a petroleum products pipeline running out of North Vietnam just north of the DMZ into Southern Laos...
...attention of the military to oil in Laos comes at the same time that the government of South Vietnam has delayed, from February to March or even later, invitations to petroleum companies to bid on offshore oil concessions. These concessions are located in the Gulf of Thailand and the south-east offshore region adjacent to the penal colony of Con Son. The Thien-Ky government has not yet determined if it will offer all 18 offshore leases in a block or whether it will stretch out the leasing over a period of months to the 21 contending companies, which...
...General Insurance, has followed Rolls-Royce into bankruptcy-leaving one-tenth of Britain's drivers unprotected. The nation's largest industrial complex, Imperial Chemical Industries, plans to reduce its investments in Britain by some 25% over the next three years. Other investment cuts are expected in the petroleum, shipbuilding, motor and engineering industries. One notable light industry -the Rolling Stones-is emigrating to France to get away from it all. Inflation is running at nearly 9% a year, while the economy is growing by a paltry 1.1%. The one bright spot is the nation's balance...
That the withdrawal of all American forces from Indochina depends on revolutionary changes within this country should be obvious from the announcement that the Thien-Ky government is planning to award 17 off-shore drilling leases to international petroleum companies. Bidding was supposed to have taken place in Saigon in February. It was postponed 60 days because Gulf and Mobil ostensibly requested further clarification concerning the off shore leases...
...weeks, a score of Western petroleum companies have been fencing with the ten members of the Organization of Oil Producing Countries (OPEC) over the question of higher payments. Inspired by Libya's left-wing revolutionary government, the OPEC countries* have abandoned old political rivalries and joined to squeeze the oil companies-most of them American. At every opportunity, the countries have threatened to cut their customers off without a drop, thus depriving Western Europe of 85% of its oil, Japan of 91% and the U.S. of 18%. Last week talks between the companies and six Persian Gulf members...