Word: reza
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Dates: during 1970-1979
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Iran's Shah Mohammed Reza Pahlavi is the real boss of N.I.O.C., and he has been pressing the company's expansion. N.I.O.C. now runs four refineries in Iran and holds interests in refineries in India and South Africa. The company is also moving into petrochemicals and exploitation of Iran's immense natural-gas reserves. In a deal that suggests the shape of the future, N.I.O.C. is contracting to sell up to 100,000 bbl. a day for 15 years to Ashland Oil Co. in return for a half interest in 180 service stations in New York State...
Since the British pulled out of the Persian Gulf in 1971, Iran's Shah Mohammed Reza Pahlavi has engaged in an expansionary policy aimed at filling the power vacuum. His troops have occupied the Persian Gulf islands of Greater and Lesser Tunb and Abu Musa, which-despite their comic-opera names-guard the strategic Strait of Hormuz, through which 120 tankers a day carry a little more than half the oil consumed by the non-Communist world. Iran earlier had abrogated a treaty granting equal navigational rights to the crucial Shatt al-Arab, a confluence of the Tigris...
...succeeded, it would lock the West for long years into paying for its oil high prices that might not hold up in an open market. Anyway, the oil producers for the moment show little interest in settling for any price other than the highest they can get. Shah Mohammed Reza Pahlavi of Iran has said that a fixed price for oil would be acceptable only if the West could also guarantee fixed prices for the goods that it sells to oil producers -an obvious impossibility in view of global inflationary trends...
...these rates, many developing countries may be forced out of the petroleum market altogether. The impact in the industrialized world will also be severe. Shah Mohammed Reza Pahlavi of Iran, a non-Arab nation that has shunned the boycott but participated in the price hikes, warned last week: "As to the industrial world, I think that they will have to realize that the era of their terrific progress and even more terrific income and wealth based on cheap oil is gone. Eventually, they will have to tighten their belts...
Under Shah Mohammad Reza Pahlavi, Iranians have been working furiously to expand and diversify their economy. Thanks to the quickened flow of oil money, the government has announced that its $16 billion budget for next year-the largest ever-would be balanced. Rumors that a 20% raise for civil servants might be in the budget, though, swiftly sent retail prices up 10%. The government promptly ordered out "anti-price-hike squads" to warn shopkeepers against inflationary gouging...