Word: richfield
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...have been forced to shut down their pumps permanently. At the same time, major oil companies are cutting back their retail operations in areas where they are weak. In recent weeks, Exxon began phasing out at least 150-and possibly as many as 400-of its Midwestern stations. Atlantic Richfield plans to fold some 2,400 of its outlets in the Upper Midwest and Rocky Mountain regions...
...high respect for U.S. technology but are much more used to doing business with Japanese firms, many of which have Moscow branch offices. (So far no U.S. manufacturer has a Moscow office, though the recent overall trade agreement provides for reciprocal office space in Moscow and Washington.) Atlantic Richfield took on Japan's Kawasaki Heavy Industries as a partner in the Leningrad deal...
...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...