Word: petroleum
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Dates: during 1970-1979
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...that in the final pinch the West will come to his aid: 1) a recent congressional attempt to require the U.S. to lift sanctions against Rhodesia by the end of 1978; and 2) disclosures that past British governments looked the other way when oil companies violated a ban on petroleum shipments to Rhodesia. Nyerere professes to be unconcerned about the past. "The international community can see what's been happening. I leave it to them whether they've contributed to the war, to the killing. I'm more interested in the future. I want to know what...
...countries represented at the meeting were members of the Organization of Arab Petroleum Exporting Countries, a subgroup of OPEC that accounts for more than 60% of its production. Given the Arabs' weight in OPEC councils, it is almost certain that some price increase, possibly along the lines of the Saudi Arabians' suggestion of 5% on Jan. 1 followed by subsequent hikes of 2% or 3% at "relatively frequent intervals," will be adopted when all the cartel's members meet in Abu Dhabi in December...
With a flamboyant wave of the Union Jack, the Royal Navy was ordered to blockade the Portuguese Mozambican port of Beira, where a new oil pipeline led into Rhodesia. The blockade lasted ten years, but was only window dressing. Shipments to Rhodesia continued to arrive at the old petroleum port of Lourenço Marques (now Maputo), several hundred miles to the south. From there the oil was shepherded by Shell Mozambique, a U.K.-incorporated firm, into the hands of South African brokers, who sent it north by rail through Mozambique to Rhodesia...
Thievery in various forms has become all too frequent over the past three years in the production fields and exploration areas of the South and Southwest that are the heart of what petroleum people call the U.S. Oil Patch. Spurred by the rise in oil prices, drilling activity has reached its highest level since the '50s, resulting in an acute shortage of pipe, drill bits and other oil-exploring and -producing equipment. Orders for derricks can take as much as 18 months to fill. Buyer impatience has spawned a burgeoning subindustry: a booming black market for stolen oil equipment...
...stolen gear, drillers in Oklahoma and Louisiana have set up rewards earmarked to pay informants. Throughout the South and South west, law-enforcement officials and oil-company security people are holding seminars on antitheft measures. Says William J. Sallans, executive vice president of a Houston-based association of 210 petroleum-equipment manufacturers and suppliers: "We've bought more' cyclone fence since 1973 than at any other time in the history of the oil industry...