Word: richfield
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Dates: during 1970-1979
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...Joseph Verdol, licensing manager of Atlantic Richfield Co., was a happy man. Competing against eleven firms from Japan, Europe and the U.S., he had just sealed one of the biggest deals with the Soviet Union since the two nations began doing more business with each other in May: a $16 million agreement for the design and initial operation of a plant near Leningrad that will make chemicals for Russian synthetic fibers. "The best advice that I can give Americans hoping to do business in the Soviet Union is to be patient," said Verdol. He should know. Before leaving Moscow...
...bargaining: he had offered to play for $50,000 with a retroactive bonus agreement; or on a long-range contract basis with assured increase; or if Finley would allow him to become a free agent at the end of the season. His most bizarre proposal called for the Atlantic-Richfield Co. to boost his income by paying him $42,500 to do a gas station commercial with Finley...
Great Search. For six years, a consortium of 33 companies-headed by Humble Oil, a Jersey Standard affiliate, and including such giants as Atlantic Richfield, Getty, Mobil and Texaco -have poked and probed the continental shelf in hopes of a big discovery. Recently oil and gas were discovered off Sable Island, Nova Scotia, and hopes soared. Geologists concluded that the find was probably part of a pool extending southward to North Carolina, and oilmen accelerated the Atlantic search. Most promising sites so far: Georges Bank Trough off Massachusetts, Baltimore Canyon Trough off the Middle Atlantic states and Blake Plateau...
...Forest and oil exploitation, however, are already bringing returns. U.S. and Asian loggers boosted Indonesia's timber exports to $110 million last year, 70% over 1969, and expect to double that by 1973. Working with Pertamina, the state-owned oil monopoly, several foreign firms-including U.S.-owned Atlantic Richfield Co. and Union Oil Co.-recently began producing oil from wells in the Java Sea and adjacent waters. Already the major oil producer in the Far East, Indonesia expects to pump out 1,000,000 bbl. a day this year and 2,000,000 daily by the mid-1970s. That...
American firms, including Gulf, Mobil, Texaco and Atlantic Richfield, have an enormous stake in Venezuelan oil. Creole Petroleum Corp., a subsidiary of Standard Oil of New Jersey, lifts almost half of the 3.7 million bbl. of oil pumped daily. The U.S. companies have nearly $2 billion tied up in wells, pipelines and refineries; it is the largest single American investment in South America...