Word: torkild
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...Died. Torkild Rieber, 86, chairman of Texaco from 1935 to 1940, and overseer of one of the greatest engineering feats in oil-industry history; in Manhattan. Shortly after becoming boss, Rieber bought the idle Barco oilfields, 1,200,000 acres deep in the jungles of Colombia, and during three years of collaboration with Socony-Vacuum Oil Co., hacked a 263-mile pipeline over the Andes to service tankers on the country's Caribbean coast...
SINCLAIR OIL, which wants to increase its oil and gas reserves, is working on a multimillion-dollar deal to buy American Republics Corp. from Torkild ("Cap") Richer, who helped negotiate the Iranian oil settlement (TIME, Feb. 1). Dickering price for American, which has rich reserves in Southwestern and Gulf states: $72 a share (1,500,000 shares outstanding), $4 more than the current market price...
IRAN is moving closer to settlement of its oil problem. Famed Oilman Torkild ("Cap") Richer (TIME, April 20) has been hired as Iran's official adviser on oil matters and is expected to work out a deal between Iran and Anglo-Iranian Oil Co. that will permit a combine of oil companies to market Iran...
Among world oilmen, Norwegian-born Torkild ("Cap") Rieber, a hardfisted, hard-swearing ex-sailor, is an operator whose shrewd deals and big projects have made him something of a legend in the industry. It was Rieber who landed the famous Barco concession in Colombia for the Texas Co.. built a mile-high pipeline across the Andes, wangled a half-interest for Texaco in the rich Bahrein fields on the Persian Gulf. After he resigned as Texaco chairman in 1940. he carved a new career for himself as boss of Barber Oil Corp...
Debate. As talk cleared the way for more talk, the battle lines developed in the board room. On one side were the New Yorkers, more sensitive to the foreign issue. They were led by potent Manhattan Attorney Walter G. Dunnington, who had nursed Torkild Rieber along from promotion to promotion in his 36 years with Texas Corp., felt responsible. As the representative of Texas Corp.'s biggest single stockholder (estate of Empire Builder James J. Hill's son), Director Dunnington's opinion was important. Reluctantly, he felt that the chairman's tongue-wagging had made...