Word: tariki
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...princes and after many tearful quarrels, Saud accepted Feisal's resignation as Premier and took the job himself. To get the economy moving, Saud turned to another brother, Prince Talal, 30, who as Finance Minister runs the country with the help of its most powerful commoner, Abdullah Tariki, 42, Minister of Petroleum, Mines and Education...
...four princes and six commoners. The key post of Finance went to Saud's brother Prince Talal, whose powerful voice in the family councils had cinched Feisal's rise and Saud's demotion two years before. The new Minister of Petroleum, Mines and Education is Abdullah Tariki, the aggressively nationalistic University of Texas-trained geologist who in Arab councils argues that all the Arab countries should be getting a larger share of oil-company profits...
...Arab government revenues flow from oil royalties. Although Mideast production is up 13% this year, the Arab nations expect heavy revenue losses from the cuts; Iraq says it will lose about $20 million, and Kuwait, Saudi Arabia and Iran, being bigger producers, will lose even more. Cried Sheik Abdullah Tariki, Saudi Arabian director of petroleum and mineral affairs: "It is a plot by the oil companies, not even remotely justified by the Russian challenge." When the Arab Petroleum Congress meets in Beirut in October, it is expected to press for a bigger share of the profits, move ahead with...
...Sheik Abdullah Tariki, 40, and Sheik Hafiz Wahba, 69, were elected directors of the Arabian American Oil Co., first Saudi Arabians to go on the board. Aramco had agreed five years ago to add Saudis to the board, but they did not seem interested until Tariki began his campaign for more say in running the company (TIME, April 27). Tariki, who holds a master's degree in oil engineering from the University of Texas, has steadily campaigned for a bigger cut in Aramco's profits. He wants to force it to become an integrated company in hopes...
...what made Tariki's global ambitions less of a threat to the oil companies than they might otherwise have been is the current, worldwide oil surplus, which caused crude prices to drop 18? a barrel in February (complains Tariki: "We lost $34 million and weren't even consulted"). Last week a high-powered Venezuelan deputation at Cairo urged the Arabs to join in limiting production to stabilize prices. But as always when Arabs get together, agreement was hard to come by. The Iraqis, feuding with Nasser, were not even present. And Iran, remembering how increased production by Arab...