Word: yamani
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...however, are poor, and the North-South meeting has been postponed, probably until next spring. Thus, OPEC's leaders now will meet on schedule Wednesday in the tiny Persian Gulf emirate of Qatar. As usual, their deliberations will probably be dominated by Saudi Arabian Oil Minister Ahmed Zaki Yamani, who will seek to keep the increase as low as possible, and Iran's Minister of State, Jamshid Amouzegar, who will argue for a boost of at least...
Recovering Economies. The outcome represented a substantial victory for Saudi Arabia and its oil minister, Sheik Ahmed Zaki Yamani, who had vigorously opposed even a token price boost. The decision was also good news for the U.S. and other industrialized countries-although their problems with energy and OPEC are far from over, and may get considerably worse in the months ahead...
Speaking for the price doves, Saudi Arabia's Yamani insisted that any price increase now would damage the steadily recovering economies of the U.S. and Western Europe and cause another drop in world oil demand. One reason Yamani succeeded in carrying the day is because Saudi Arabia, which produces about a fourth of all OPEC oil, has the power to break the cartel: no price that it finds intolerable has a chance of sticking...
After almost two years of delay, American oilmen sat down last week with Saudi Arabian Oil Minister Ahmed Zaki Yamani to arrange a complete Saudi buy-out of Arabian American Oil Co., the free world's largest crude producer. But they kept a tight curtain of secrecy around the five-day meeting at the plush Bay Point Yacht and Country Club, near Panama City, Fla. As most of the negotiators-including executives of Exxon, Mobil, Texaco and Standard of California, the four American partners in Aramco-made for their private jets at the conclusion of the meeting, they refused...
...Yamani was hinting that the remaining 40% would be nationalized within a few months. Yet for all the pressures on the Saudis to move ahead, including 100% takeovers of Western oil consortiums in Iraq, Kuwait and, recently, Venezuela, negotiations faltered-and not only over the amount of compensation. For one thing, the assassination of King Faisal last year distracted attention from Aramco. Then too the companies themselves were unable to agree on some items because of their differing goals...