Word: petroleum
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...those shares for $848,000, Harken was sliding down. The company, which owned everything from drill rigs to gas stations, was losing millions of dollars trading oil on the commodities market. With its balance sheet deteriorating, Harken devised a sale of 80% of a chain of gas stations, Aloha Petroleum in Hawaii, to an entity that included the company's chairman and another director. Harken recorded a gain of $7.9 million to offset other losses and finished the year $3.3 million in the red--bad, but far better than the reality...
SOUK SCENTS Long before petroleum was discovered in the Middle East, Arab trade was dominated by incense, fragrant resins and perfume woods?and Oman, as the center of this trade, prospered. It may seem something of a contradiction that Omanis, given their conservative customs, would indulge in the extravagant and heady scents of rose oil, musk, sandalwood, myrrh and frankincense. But a trip to the souk, or traditional market, in Muttrah quickly reveals this penchant for perfume is not just an aesthetic pleasure?it's big business with a long history. Omanis have been extracting frankincense from the Boswellia carterii...
...with the alliance's 19 full-fledged members for discussions on fighting terrorism and arms control. There also remains what Coit Blacker, a Stanford professor and close friend of Rice's, calls "the elusive promise of economic cooperation." Putin is beginning to allow foreign access to Russia's vast petroleum reserves, but trade and investment in other sectors will lag as long as the nation's business laws remain inscrutably complex and arbitrarily enforced...
...starting to talk. Ex-spies complain that the government promised them generous rewards, then reneged. The reason: Seoul didn't want to admit it was employing the same dirty tricks as Pyongyang. In March, several hundred ex-spies demanding compensation and official recognition set fire to canisters of liquefied petroleum gas at a busy intersection in Seoul. Angry protesters wearing red headbands held another demonstration in front of the Ministry of National Defense earlier this month, including a man who stripped in front of riot police. Another protester, Kim Su Chan, said the government harassed him for years after...
...ENERGY The oil, gas and utility sector is bringing on finance and marketing graduates to help navigate deregulation. Companies such as TXU, Exxon Mobil and Koch Industries are still hiring. A graying work force means the industry also needs to find a new generation of petroleum engineers, geologists and geophysicists...