Word: oilfields
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AUSTRALIA, which imports 7,000,000 bbls. of crude oil yearly, mostly from the Middle East and Indonesia, may soon have its own oilfield. West Australian Petroleum Proprietary Ltd., which is 80% owned by Caltex (jointly owned by the Texas Co. and Standard Oil of California) and 20% by the Australian firm Ampol, has just brought in the continent's first producing well 700 miles north of Perth. The news sent stock in Ampol's subsidiary, Ampol Exploration, soaring from $2.02 to $15.12 on the Melbourne exchange...
...production and marketing. The Texas commission was set up by" a legislative act in 1891 to regulate railroad rates and transportation; soon it assumed other regulatory powers. But not much attention was paid to the state's oil reserves until 1930, when the huge East Texas oilfield blew in and upset the price structure of world petroleum...
Such enterprise has made David Brown Corp., Ltd.-one of Britain's few remaining large family-owned companies-one of the country's fastest growing. David Brown's industrial empire (18 plants) sprawls from Australia to South Africa, turning out everything from gears and castings to oilfield equipment, tractors and automobiles (the famed Aston Martin sports...
...best. On Neiman's departure in 1928, after the divorce, Aunt Carrie became the dominant force of the store, proved time & again her uncanny ability to guess women's buying tastes. By 1930, when the East Texas oil strike put Dallas astride the world's biggest oilfield, Neiman-Marcus' long investment in luxuries paid off by providing the natural outlet for oil barons hunting channels of conspicuous consumption. They found such gewgaws as $20 gold toothpicks, $265 champagne swizzle sticks, cuff links made of gold oil derricks and diamond drill bits...
...golden change that has come over Brunei since then can be summed up in one word: oil. Brunei's Seria oilfield (300 wells), from which some 100,000 barrels of petroleum bubble each day out of the jungle floor directly into holds of waiting tankers, is today the richest oilfield in the British Commonwealth. In 1950 it earned Brunei $3,000,000. A year later the Sultanate's take jumped to almost $25 million. The money piled up in the bank, for, try as they might, the Bruneians could think of no way to spend it fast enough...