Word: libyans
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...targets are Oasis Oil Co., which is owned by Continental Oil, Marathon Oil, Amerada, Hess and Royal Dutch/Shell; American Overseas Petroleum Ltd., owned by Texaco and Standard of California; and Occidental Petroleum. Negotiations between Oasis and the Libyans over the 50% demand had been proceeding fitfully for months until last week. Then Gaddafi called a Tripoli press conference and produced a couple of Israeli grapefruit that he said had been confiscated by Libyan workers at a pipeline terminal run by Oasis, the largest foreign producer. He accused Oasis of allowing Israeli spies to operate in Libya disguised as oil workers...
...worded takeover proposals before the deadline. Nervous Americans, faced with the peculiar task of proposing terms for their own buyout, complained privately that they did not know exactly what Gaddafi meant by "100% control." At minimum, Gaddafi might settle for part ownership of their assets and the appointment of Libyan nationals as chief executives. At the extreme, he will push for complete nationalization...
...broke out in stretches inside the northern and eastern borders, where at least 2,000 Palestinian troops crossed into Lebanon from bases in Syria. The Syrian government insisted that it would not send its army into Lebanon, but its sympathies, like those of Libya, were clearly with the fedayeen. Libyan Leader Muammar Gaddafi urged the guerrillas to seize the Beirut airport so that he could send them Libyan fighter planes. Syria closed its border to Lebanon; with the Beirut airport also shut down and 40 ships unable to unload cargo, Lebanon was virtually isolated...
...Israelis raid Arab refugee camps in northern Lebanon and shoot down a Libyan airliner over Sinai, killing 107 on board...
...gained an influential ally in Mohammed Hassanein Heikal, Nasser's old friend and policymaker and the editor of the Cairo newspaper Al Ahram. Heikal, who is somewhat estranged from Sadat but sees Gaddafi as a new force in Arab politics, takes considerable hope in the forthcoming Egyptian-Libyan federation. He believes that the new alliance will be strong enough to exert pressure, via the conservative Arab states and the U.S., to make Israel withdraw from the occupied territories...