Word: talara
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...fact that Peru's problem has merely been postponed. The burden of action now rests with the junta. The U.S. does not refute Peru's right to expropriate. Indeed, this would be pointless, since the government's Empresa Petrolera Fiscal is operating IPC's Talara refinery with Mexican assistance, and is ripping down Esso gas-station signs in favor of its own brand name Petroperu. Nor does the Nixon Administration quibble with the reimbursement-at $71 million-that Peru is willing to pay. But the U.S. firmly opposes the blue-sky figure of $690 million that...
Enter I.P.C. At that point, London & Pacific sold out to I.P.C. The U.S. company did much to make itself welcome. The company oil town of Talara (pop. 35,000) on the Pacific Coast became a model of its kind, with neat houses, abundantly stocked supermarkets, modern schools, a fully equipped hospital. I.P.C. paid some of the highest wages in Peru-about 40% higher than the Lima average-and provided fat fringe and pension benefits for its workers. Employee turnover was almost nonexistent; the average blue-collar worker at Talara has been with the company 20 years. Under government prodding, I.P.C...
...heavy hopes on the prospects in the trans-Andean jungle. Only last month the government sadly announced that not a drop of oil had been found in four years of drilling the once-promising Sechura Desert on the Pacific Coast. Though still a producer (from the waning field at Talara), Peru will have to import oil soon unless new fields are found...
...version of his novelette, The Old Man and the Sea, Nobelman Hemingway was angling, day after day, for a near-world-record black marlin (TIME, April 23) in one of that fish's favorite haunts, the famed Cabo Blanco deep-sea hunting ground. Ashore in the port of Talara, after a wearying day's cruise, "Papa" Hemingway not only looked like a stout version of his own Old Man; he also had a dejected air, as if sharks had robbed him of his prize marlin. Actually, his party had bagged only one fish, half the size...
Almost all the applications are for areas in the Sechura desert, just south of the long-established north coast field at Talara (output: 33,000 bbls. a day). International Petroleum, a Canadian subsidiary of Standard Oil (N.J.) which operates Talara, is a major Sechura bidder. Other foreign applicants: Peruvian Gulf, a subsidiary of Gulf Oil Corp.; Richmond Petroleum, subsidiary of Standard Oil Co. of California; Conorada, jointly owned by Continental Oil, Ohio Oil and Amerada Petroleum Corp., principal wildcatter in North Dakota's new and gushing Williston Basin. All of these except Peruvian Gulf have asked for both exploration...