Word: sheiks
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...October. The Saudis have trimmed production to about 7.5 million bbl. daily from a high of 10.5 million last summer, but experts feel that they would have to cut output to 7 million or even 6 million bbl. to dry up the glut and stop the slide in prices. Sheik Zayed Bin Sultan al-Nahayan, President of the United Arab Emirates, reportedly was in Saudi Arabia last week in an at tempt to persuade King Khalid to send a delegation to the OPEC meeting...
...senatorial influence to gain Government contracts to make the mining venture profitable. The jury also found that Williams had agreed to help gain legal residence in the U.S. for the man offering to sweeten the deal with a $100 million loan, an FBI agent posing as an Arab sheik. The transaction was surreptitiously videotaped by investigators and later shown on television news programs...
...selling enough of its 600,000 bbl. in daily exports to pay for its war of attrition with Iraq, last week announced plans to cut $1 off its quoted price of approximately $33.20 per bbl., thereby threatening to spread price cutting to the Persian Gulf. OPEC's president, Sheik Mani Said al-Oteiba of the United Arab Emirates, last week indicated that further price reductions might force the organization to institute some cuts in output in order to firm up prices. But OPEC has never in its history been able to agree upon a program to curtail production...
Only one OPEC supplier, Saudi Arabia, which is currently exporting about 7.5 million to 8 million bbl. a day, could cut back production sharply enough to tighten the world market without doing grave damage to its own internal economy. Though Saudi Petroleum Minister Sheik Ahmed Zaki Yamani has been purposefully vague about his country's plans, reports out of the Persian Guff banking center of Bahrain last week suggested that the desert kingdom may be preparing to trim production at least somewhat this spring...
...prime minister, for all her apparent heroism in 1971, can hardly claim that the intervening decade has shown her in flattering light. This time ten years ago, the streets of Dacca resounded with exultant chants of Joi Bangla (Victory to Bengal) and the nation welcomed back its imprisoned leader, Sheik Mujib. Today, even in Dacca, it is unlikely that people bother to remember the hope that was in the air as refugees returned and the world cast its attention on the fledgling nation. Instead the country struggles as a population of 92 million, likely to double by the turn...