Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...unearned bonanza to the oil companies, Carter called on Congress to enact a "windfall profits tax." It would skim off about half the $13 billion or so of extra revenue that oil firms stand to get as the price of domestic crude oil, which now averages $9.45 per bbl., rises to the world level. At the moment, that figure is $14.55 for OPEC oil, but Ecuador is now charging a premium price of $20.60 per bbl., and other producers are also levying surcharges on the basic OPEC price. Under Carter's plan, the proceeds of the oil tax would...
After two days of stormy meetings, the OPEC ministers agreed to raise their prices for the second time in a little more than three months-on this occasion by 9%, bringing the cost of a barrel of the marker crude, Saudi Arabian light oil, to $14.55 per bbl. Though that alone would fatten OPEC'S already bulging bank accounts with an additional $20 billion annually from the U.S., Western Europe and Japan, as well as more foreign exchange from the have-not nations of the Third World, the cartel also moved to allow individual members to stick on whatever...
...bravado was quickly underscored by a rash of surcharge announcements. Algeria and Libya both added $4-per-bbl. premiums to their much-in-demand low-sulfur oil, as did Nigeria, a nation that has made a practice of haphazardly squandering its petrodollars almost as blithely as Americans waste oil. Kuwait, Iran and Venezuela tacked on $1.20-per-bbl. surcharges. Mexico, though not an OPEC member, also got in on the gouging game; it added 73? per bbl...
...increases and resisting Bazargan's plans to reduce overstaffing. Food shortages have created a thriving black market that is feeding an unofficial inflation rate of 200%. Many of these problems would be relieved by fresh oil revenues, and as of last week production was up to 2.5 million bbl. per day, or about half the normal level. The question was whether these revenues, welcome as they were, would be sufficient to get Iran moving again...
...project would have enabled Alaskan production, presently set at 1.2 million bbl., daily, to increase to a full 1.6 million bbl., and thus help reduce dependence on foreign oil. Without the pipeline, it would be difficult to raise the North Slope output: the West Coast is already overflowing with Alaskan crude, and Sohio is having to ship some 350,000 bbls. a day of it via tanker through the Panama Canal, a process that adds up to $1 per bbl. to the cost. What is more, oil companies are barred from exporting Alaskan oil, even if the purpose...