Word: bbl
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...share for 40 million shares, 67% of the total, and proposed some other trimmings as well, pushing its offer to $5.1 billion. But that was nowhere near the $200 each that some analysts assigned to Marathon, considering the size of its proven oil reserves of 1.1 billion bbl. The U.S. Steel bid of an average $106 per share was still below those estimates...
...street value of $ 1.3 billion, and 2,353 Ibs. of cocaine worth $5.8 billion, in and around South Florida. So much dope was seized that the police began trucking it to the Florida Power and Light Co. to burn in its generators (732 Ibs. of marijuana equal 1 bbl. of oil, one of the odder statistics to emerge from the region). Yet officials estimate that perhaps as much as ten times the amount seized was smuggled into the region. At the moment, Bade County police have a stash of 162,000 Ibs. of marijuana waiting to be entered as evidence...
...country altogether. But last week an oil company reversed roles and walked out on the colonel. Exxon announced that it was withdrawing all its oil and gas operations from Libya. The company will turn over to Gaddafi its 49% stake in oilfields capable of producing 150,000 bbl. per day, plus a refinery and natural gas complex near the port city of Brega. Estimated value of Exxon's loss: $50 million to $100 million...
...departing abruptly from Libya or to say whether it would receive compensation for its property. The company's relations with Gaddafi's regime have been openly hostile for months. Last June the oil company complained that Libya's premium price of $41 per bbl. was outrageous and began sharply curtailing production from its Libyan wells. At the same time the company was worried because some of its workers at the Brega facilities were being forced out of their homes to provide more housing for soldiers in Gaddafi's growing army...
...unilaterally jack up prices to almost any level it desired. Nonetheless, oil production and prices remain precariously balanced and can easily fall into turmoil. The sharp reduction of output during 1978 and 1979 by only one producer, Iran, caused oil prices to jump from $12 to nearly $40 per bbl. World oil could again become the prisoner of some similar unexpected event...