Word: petroleum
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Dates: during 1980-1989
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...year since Mikhail Gorbachev announced a sweetening of incentives for foreign investment in Soviet industry, many U.S. corporations have nibbled but none have bitten until now. Last week a Connecticut petroleum-engineering firm signed up for a $16 million U.S.-Soviet joint venture to develop control systems for oil refineries and petrochemical plants. Combustion Engineering of Stamford will supply the technological know-how, while the Soviet oil ministry provides equipment and labor. Although control over the venture is tipped 51% to 49% in favor of the Soviets, the pact offers something for both sides: Moscow gets access to badly needed...
...intended as a highlight of Prime Minister Margaret Thatcher's ambitious program to put Britain's vast array of state-owned businesses back into private hands. But when some 2.2 billion government shares in British Petroleum -- about 31.5% of the company's equity -- came up for sale last week, the result was an enormous bust. In the wake of Black Monday, BP shares already on the market were trading well below the $5.68-a-share issue price of the new offering, and investors therefore shunned the new $12.2 billion flotation. Underwriters were stuck with millions of unsold shares, and could...
...market appeared to take in stride the fact that no final decision had been made by the close on whether the British government would go through with a public offering of its remaining stake in British Petroleum...
...petroleum imports from Iran in 1986 were valued at around $100 million, he said, and he added, "We expect that number would have declined by 25 percent in 1987, even with no trade controls in place...
...late." Seconds later the missile slammed into the ship. The warhead exploded in the officers' quarters of the vessel, which two days earlier had left behind its escort of U.S. warships in the Persian Gulf and sailed into Kuwaiti waters to load up with refined-petroleum products. Eighteen crew members were injured, including the American captain and radioman...