Word: petroleum
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Dates: during 1980-1989
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Like the Organization of Petroleum Exporting Countries, Britain has long tried, with varying degrees of success, to prop up the cost of oil. Since its formation in 1975, the state-owned British National Oil Corp. has set an "official" price for Britain's North Sea crude: currently $28.65 per bbl. But in recent months BNOC has had few takers at that price and has sold some oil at discounts of about 8% on the spot market, where oil shipments that are not part of long-term contracts are traded...
...cascaded down Frank Phillips Boulevard and rushed along the corridors of the Jane Phillips Episcopal Hospital and the Phillips Hotel. It spilled over into Frank Phillips Airport and gushed through every Phillips 66 station in town. In Bartlesville, Okla., last week, there was good reason for jubilation. Phillips Petroleum, the eighth largest U.S. oil producer, had succeeded in stopping New Yorker Carl Icahn's bid to take over the company after earlier beating back a similar attempt by Texan T. Boone Pickens. A three-month siege by corporate raiders had ended, and worries for the future were replaced by good...
Business: Makes construction, mining and petroleum-related equipment...
Proxy vote: no petroleum sales to South Africa...
...does not look like someone who would frighten even a PTA board, he is a scourge to the giants of corporate America. Last week newspapers across the U.S. carried full-page ads with the scare headline IS ICAHN FOR REAL? The ads were part of a counterattack by Phillips Petroleum against Icahn's attempt to take over the firm...