Word: oilfields
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Phase 1 of a $5 billion iron-and steelworks at Baoshan, near Shanghai, and- a huge petrochemical complex at the Daqing oilfield in Heilongjiang province...
DIED. John W. Mecom Sr., 70, former oilfield roustabout whose success at turning abandoned wells into profitable operations, along with his initiative hi developing new fields in locales from Louisiana to Saudi Arabia, once ranked him with independent Oil Tycoons J. Paul Getty and H.L. Hunt; of a heart ailment; in Houston. An unpretentious man who never had a chauffeur (but who occasionally donned a chauffeur's cap to drive his wife around in a limousine), "Big John" at times was estimated to be worth more than $200 million, but in 1970 filed two bankruptcy petitions. Out of that...
...skipper of the 9,000-hp. oceangoing tug Cavalier and his crew of seven are part of a convoy of tugs and barges making the hazardous trip from the Pacific Northwest to the oilfields around Prudhoe Bay in Alaska. Once a year, for up to six weeks, the Arctic ice pack crumbles away from the Alaskan coast, giving the oil companies their only chance to transport equipment too large to be carried by airplane or truck from Anchorage, more than 600 miles to the south. In 1975, when the entire fleet was trapped in the ice, the scheduled opening...
...state legislature in Oklahoma is now considering measures to curb the thefts, including a law allowing police to halt oil tanker trucks on the highways and demand to see papers that prove the origin of the load. Meanwhile, several oil firms have engaged an outfit called Oilfield Security Patrol Inc. to keep heavy guard over their well sites. Company President Jack Gibson, an ex-policeman, is afraid that curbing the thievery could get rough. Says he: "When a guy is sitting there with $8,000 worth of hot oil in his truck, he is not going to let someone talk...
...always lacked the incentive and technology to find them. Now better seismic analysis and the skyrocketing price of crude have made it profitable to search out smaller deposits. Hamlets in the area like Old Dime Box and La Grange have turned into boomtowns. In Giddings, the epicenter of the oilfield, houses that rented for $75 a month now go for $300, and one local entrepreneur is converting old oil-storage tanks into motel rooms renting for $20 a night. That is exactly what the girls at the old Chicken Ranch used to charge...