Word: petroleum
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...dividends. Pickens is believed to be interested in making a run for the Texas governorship, so his Japanese offensive may be calculated to play well back home. Koito, for its part, is launching its own publicity offensive, contending that if such eminent U.S. companies as Gulf Oil and Phillips Petroleum can turn away Pickens' bids, Koito can snub...
...about 70% had been cleaned up. The smallest of the spills, which occurred when a barge collided with a cargo ship in the Houston Ship Channel and released 250,000 gals. of heavy crude, was almost completely recovered. Nature cooperated: high winds blew most of the petroleum into an industrial channel where it could be scooped up easily...
Cain's rise began in 1987 when his company added to its string of petrochemical plants, buying at bargain prices. Sterling and its partners gambled $1 billion on these plants, which were assembled into a single firm known as Cain Chemical. Last year Sterling sold the package to Occidental Petroleum in a deal that was valued at $2.2 billion. Cain shared his bounty ! with some 1,350 employees, who took home a total of $537 million...
...peak driving season, gasoline prices have risen about 25% in the past two months, to a U.S. average of $1.25 per gal. The pain at the pump is largely the result of higher crude- oil prices, and no relief is in sight. Members of the Organization of Petroleum Exporting Countries, whose squabbling has sometimes led to price wars, were relatively cooperative with one another when they met last week in Vienna. Because of strong worldwide demand for OPEC's crude, the group decided that it could boost its self-imposed production quota by 1 million...
...pipeline containing liquefied petroleum gas exploded at 1:14 a.m. as the trains passed each other on opposite tracks between the towns of Ufa and Asha, 745 miles southeast of Moscow, Tass said. The news agency said gas seeped from the conduit and caught fire, but it was not clear what caused the leak...