Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Khashoggi wanted to become a petroleum engineer and enrolled in the Colorado School of Mines. But Colorado was too cold for his desert blood, so his father arranged for him to go to the California State University at Chico, a school of 2,000. Set in a conservative rural town, it was an oasis for wealthy Middle Eastern students seeking an American education. When his father sent him $10,000 to buy a car and rent a better apartment, Khashoggi purchased two trucks that he leased to the owner of a small construction company for $125 a month. "I used...
...would have been easy enough for Roderick to submit, faced as he was with enormous pressures on all sides. For the past year the oil and gas business, which generates some 60% of USX revenues, has been hit by declining petroleum prices. USX has also been mired in a bitter five-month-old strike by 22,000 steelworkers. The firm, which earned $409 million on sales of $19.3 billion in 1985, is expected to report a net loss for 1986 of about $500 million on revenues of some $16.5 billion...
...owned by Star Market at 99 Mt. Auburn St. was included as one of the nine sites in Cambridge with confrmed petroleum leaks. The Riverfront Office Park and a site at 62 Whitemore Avenue owned by W.R. Grace are also on the list of confirmed hazardous waste sites...
...historic petroleum price plunge of 1986 could be traced to September 1985, when Saudi Arabia got fed up with its dwindling share of the world's oil market and decided to reverse completely its traditional strategy of holding back production to prop up prices. Oil Minister Sheik Ahmed Zaki Yamani raised crude output from about 2 million bbls. a day to 4 million bbls. with the aim of forcing rival oil producers like Britain to cut back to make room for the Saudis. But when competitors refused to budge, the world's oil glut rapidly increased and discounting became rampant...
...result was a windfall for customers, for a change, rather than for the Organization of Petroleum Exporting Countries. Crude prices plummeted from $26 per bbl. in January to below $10 in April and remained under $15 for most of the year. The low prices distressed the Saudi royal family and provoked anger from other OPEC countries, prompting the Saudis in October to oust Yamani as Oil Minister after he had spent two decades as a leading OPEC strategist. With that, the Saudis abandoned their price-war tactics. When OPEC met in December, twelve of its 13 members, with Iraq dissenting...