Word: suez
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West African oil is low in sulphur, which makes it easy to refine. Because most of it lies offshore, foreign oil companies don't have to deal much with locals beyond a few government officials and hired labor. Transport is easy too, with no pesky Persian Gulf or Suez Canal to navigate. Recent fighting in Ivory Coast is a symbol of West Africa's volatility, "but it is not as dangerous as the Middle East," says George Ayittey, of the African Oil Policy Initiative Group, a lobbying group based in Washington. The National Intelligence Council, a Washington think tank, expects...
...Because most of it lies offshore, foreign oil companies don't have to deal with locals beyond a few government officials and hired labor. Transport is easy too: the oil fields sit a direct tanker trip across the Atlantic from Europe or America's east coast, with no pesky Suez Canal or Gulf to navigate. The Bali blast is a reminder that no place is safe from terror, and recent fighting in Ivory Coast is a symbol of West Africa's volatility, but oilmen remain bullish in part because oil production is offshore and thus rarely disturbed by onshore unrest...
...nation's business establishment - led by the doyen of French industry, Claude Bébéar - lobbied for his ouster. That behind-the-scenes intrigue reportedly got decisive support from Chirac advisers like Jérôme Monod - a former official at Vivendi's French rival Suez. Their view that Messier would bankrupt his corporate creation - discrediting the entire Paris Bourse in the process - was pressed upon Chirac allies on Vivendi's board, and down went Messier. Replacing him is Jean-René Fourtou, the non-executive vice chairman of Franco-German pharmaceutical giant Aventis and respected baron...
DIED. DAVID ASTOR, 89, liberal editor, from 1948 to 1975, of the Observer, his family's Sunday paper and Britain's oldest; in London. He used the paper to champion his friend Nelson Mandela, condemn Britain's attempt to take the Suez Canal from Egypt, and print, without advertisements, Nikita Khrushchev's 26,000-word denunciation of Stalin...
October 1, 1973: War breaks out in the Middle East as tank battles rage along the Suez Canal and the Golan Heights...