Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...three of the companies earned more profit last year than they did then: Shell, Mobil and California Standard (SoCal), which markets under its Chevron Trademark. And none but SoCal has regained the peaks of 1974, when soaring prices gave them a one-shot windfall by raising the value of petroleum they held in inventory. The later profits from price boosts have gone primarily to the OPEC nationalizes of the oil. But the companies have done a creditable job of maintaining earnings through what amounts to an oil revolution, and for some the outlook is so bright as to make Pocock...
...power research. Exxon and Gulf are partners with Cities Service and the Canadian government in Syncrude, a company that will open a plant designed to squeeze oil at last from the famed Athabasca tar sands. The sands, in northern Alberta, have long been known to contain gigantic amounts of petroleum, but up to now the cost of extracting it has not been justified by the price. Some of the Sisters have moved heavily into metals, a field in which their geologists have considerable expertise. Shell produced and sold $1.2 billion worth of aluminum, copper, zinc and nickel last year, enough...
...BRITISH PETROLEUM, 51% owned by its government, raised operating profits 6% in 1977, but capital-gains taxes cut total net about 10%, to $531 million. In this year's first quarter, its earnings fell 44%, the probably temporary result of lower prices for North Sea crude and of marketing losses in Continental Europe. BP, which has total operating freedom from the politicians in Whitehall, has long emphasized crude production over marketing. The company produces the "blackest" barrel of oil in Europe-that with the largest proportion of low-profit heavy fuel-and early this year closed its biggest refinery...
...Congress to limit, though not forbid, acquisitions in non-oil energy fields. Acquisitions of completely unrelated businesses, like Mobil's link with Marcor, probably will be held back both by political opposition and by :he feeling of most oil managements that they should stick to fields in which petroleum expertise is useful. One solution would be to sink money into development of all kinds of natural resources: potash, salt, sulfur, phosphates. Another would 5e simply to distribute more cash to stockholders. In any case, it is a problem many other industries wish they could foresee...
...Ranked in order of 1977 revenues. Shell is shorthand for the Royal Dutch/Shell Group, owned by two private companies, The Netherlands' Royal Dutch Petroleum (60%) and Britain's "Shell" Transport & Trading...