Word: petroleum
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Dates: during 1980-1989
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...Secretary General U Thant feared that befriending the Biafrans would undermine his status with Nigeria and other member nations that felt threatened by tribal secession. Great Britain had extensive economic ties to her former colony and envisioned huge profits for British petroleum interests from the oil deposits recently discovered under Nigeria's Eastern Region--Biafra. Small wonder, then, that Prime Minister Harold Wilson "remarked that if a million lbos had to die to preserve the unity of Nigeria, well, that was not too high a price...
...would become Canada's largest corporate takeover, and it is already a political football. When the House of Commons returns to work this week from Easter recess, lawmakers may take up the proposed $3.9 billion buyout of Dome Petroleum by the Canadian arm of Chicago-based Amoco, fifth largest U.S. oil company. Dome's board, faced with $4.9 billion in debt, last week accepted the offer. But Toronto-based TransCanada PipeLines, which underbid Amoco by $600 million, vows to keep up the fight...
...Broadbent, leader of the socialist New Democratic Party, calls the Amoco bid a "black day for Canada," because it would tip foreign control of the $49 billion petroleum industry well past 50%. The deal could also test Prime Minister Brian Mulroney's vow to seek friendly foreign investment...
...course, inspired a worldwide campaign against South Africa. After years of prodding by protest groups, the U.S. Congress in 1986 banned new corporate investment in South Africa and stopped the import of South African steel, iron, coal, uranium and textiles, as well as the export of computers and petroleum to that country. Similar punishments have been imposed by the European Community, the Commonwealth and Japan...
Over the next two decades Texaco steadily developed its vast petroleum reserves and sold more gasoline than any of its rivals. But the world changed for the company when the Organization of Petroleum Exporting Countries jacked up the price of oil in the 1970s. In 1979 Texaco and other U.S. producers were accused of overcharging for their crude. Throughout the decade, many of Texaco's vast but maturing oil reserves began to dwindle. At the same time, consumption of gasoline leveled off and Texaco's network of filling stations became something of a burden. Many were eventually folded...