Word: bbl
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...project was completed last December, and the first load of crude oil was unloaded at Eilat from the Israeli tanker Nivi early this month. The line cost $67 million and can presently convey 133 million bbl. of oil a year. By the addition of more pumping stations, the capacity of the government-owned line could be raised by 1975 to 420 million bbl. That would be just about enough to fill the needs of a country the size of Italy...
...Customers. By contrast, construction of Egypt's 42-in. pipeline, which will extend 207 miles from a point south of Suez to Alexandria, has been long delayed. Building is now scheduled to begin next October. The line is also expected to have an eventual capacity of 420 million bbl. a year. If and when the Suez Canal is reopened, Egyptian officials have elaborate plans for widening and deepening it. Even with that, it might not accommodate fully laden supertankers of more than 200,000 tons. Egypt expects oil from the larger tankers to be drained into its pipeline...
...also building a big refinery at Ashkelon to supplement one operating in Haifa; together these facilities will give Israel one of the largest refining capacities in the Middle East. Even after taking care of its own growing needs, Israel expects, by 1973, to export more than 14 million bbl. of refined products yearly, bringing in considerable amounts of foreign currency. Underlying all this activity is Israel's worried awareness that the Arabs' political influence in the West is based largely on oil. "With a major oil facility," says one Israeli pipeline executive, "the Western powers will think twice...
...second largest producer is Gulf Oil, which is producing 200,000 bbl. a day offshore. Mobil, Italy's AGIP, Texaco and Standard of California are moving rapidly to begin producing early this year. Most offshore operators anchor a ship next to their rigs to provide living quarters for the crew, equipment storage space and a helicopter...
Nigeria's oil is particularly in demand for several reasons. It is low in pollution-producing sulfur, some 6,000 miles closer to Europe than Middle Eastern wells, and controlled by a stable government. Oilmen are confident that production will reach 2,000,000 bbl. a day by 1975, enough to give the Nigerian government annual revenues of $1 billion, twice its present budget...