Word: shellful
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Dates: during 1970-1979
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...Pocock, chairman of Shell...
...years ago, such Ethel Mermanesque exuberance would have sounded strange coming from the chief of one of world oil's fabled Seven Sisters-Exxon, Shell, Mobil, Texaco, British Petroleum, Standard Oil of California and Gulf.* Though the sorocracy had ruled the international oil trade since it began, the upheaval in the business that started with the Arab embargo of 1973 threatened to end this reign. Flushed with their success in quintupling the price of petroleum, the OPEC countries were about to nationalize their oilfields, which would strip the Sisters of ownership of much of their crude reserves. Some governments...
Though all the Sisters' sales are more than double those in the embargo year of 1973, when the cheap-oil era ended, only three of the companies earned more profit last year than they did then: Shell, Mobil and California Standard (SoCal), which markets under its Chevron Trademark. And none but SoCal has regained the peaks of 1974, when soaring prices gave them a one-shot windfall by raising the value of petroleum they held in inventory. The later profits from price boosts have gone primarily to the OPEC nationalizes of the oil. But the companies have done...
...power and versatility that the Sisters gain from sheer size. Different though they are, they all-again like real sisters-show a strong family resemblance. They are all vertically integrated companies controlling the flow of oil from well through pipeline and refinery to gasoline pump. All are multinationals; Shell operates in well over 100 countries, Exxon nearly as many...
...eleven top slots in the list of the world's largest industrial companies; General Motors, IBM and Ford are the only U.S. non-oil firms in their class. In size, the Sisters easily match many of the nations they deal with. Exxon's assets ($38 billion) and Shell's sales ($39 billion last year) are about equal to the Italian national budget...