Word: libyans
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...enough, Libya took another in a long series of actions designed to gain control of its oil. The regime decreed that Libya would nationalize 51 %-enough for full control-of five major oil companies operating in the country, including properties owned by Exxon, Mobil, Texaco, Socal and Shell. The Libyan government also declared that the companies must raise the price of oil from $4.90 to $6 a barrel. If the oil companies give in to Libya, they may be forced to make similar deals with oil nations in the Persian Gulf...
...merger plan that Sadat and Gaddafi announced last week fell far short of the Libyan leader's proclaimed goal of immediate union. Instead of a long-promised binational referendum that would declare "merger day," the agreement provided for a series of inching steps, certain to be slow, although no timetable was set. Egypt and Libya were to form a mixed Assembly, with 50 members from each nation, to draft a constitution. They will exchange resident ministers and establish a higher planning council. They will also issue a new currency-the Arab dinar-but only for transactions between their...
...week when the U.N. Security Council condemned Israel for the skyjacking of a chartered Iraqi airliner. But mixed with that pleasure was a fear that somehow Palestinian commandos would let Israel off the hook by staging another bloody spectacular, just as they did after Israeli jets shot down a Libyan airliner last March at a cost of 108 lives...
...landing in Israel. I am going to land whether you like it or not." After a 20-minute pause, Lod gave Kawas landing instructions. Moments afterward the plane touched down and Israeli troops seized the hijacker, later identified as Mohammed Mahmoud Al-Toumi, 37, a merchant with a Libyan passport, no ostensible links to any terrorist unit, and an obvious overdose of alcohol. Said a stewardess: "He had four Scotches before the hijacking, and he took frequent swigs before we landed...
...companies that operate in the Middle East must walk a political tightrope. They are increasingly dependent on Arab nations for crude to supply their, refineries, and the leaders of those countries are growing ever more aware of the power that their control of a vital industrial resource confers. Libyan Strongman Colonel Muammar Gaddafi, for example, recently called on the Arabs to use their oil as a political weapon in their campaign against Israel and backed up his vague threat by nationalizing one small American-owned oil firm...