Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...wars will probably ease somewhat, but cheap air travel will almost certainly not disappear. The carriers can afford to keep fares low because their costs are dropping dramatically. For one thing, the industry expects to save $2 billion on its fuel bills this year as a result of declining petroleum costs. In addition, the airlines are curbing payroll expenses through staff attrition and employee wage concessions. The cost of carrying a passenger for a mile on traditional airlines averaged only 7.7 cents during the first quarter of 1986, an 11% decrease from 1985. Wall Street analysts predict that as traffic...
...When petroleum was still a pricey commodity, Texas oil barons had little trouble getting loans. But as the value of oil has plummeted in recent months, the state's banks have watched in alarm while many borrowers were unable to make payments. Last week InterFirst of Dallas, the third- largest Texas bank holding company, said that it expects second-quarter loan-related losses of at least $260 million...
...adopted a more pragmatic, market-oriented program that brought down inflation from a 1981 high of 14% to about 4% last year. Chirac's regime also inherited a much improved energy outlook. The recent decline in world oil prices will lop $9 billion off France's 1986 bill for petroleum imports. These trends, plus Chirac's initiatives, have increased business confidence. In the past twelve months, stocks on the Bourse have enjoyed a spectacular 80% gain...
...away from significant challenges facing the Center. The scholars say Safran's CIA ties and style of leadership leave a legacy of suspicion and factionalization which will plague the Center in the years to come. But they also say financing Middle Eastern studies at a time when revenue from petroleum production has plummetted and the Center's own "tired blood" will present its most difficult tests...
That is a heavy burden for even so rich a country as Saudi Arabia, especially since its great wealth has begun to shrink. From a peak of $113 billion in 1981, Saudi oil earnings dropped to $28 billion last year. Uncertainty over petroleum prices and revenues prompted Fahd last month to take the unprecedented step of postponing approval of the country's new budget until summer. To the Saudis, accustomed to decision making by royal decree, the delay was a sign of indecision and uncertainty at the country's highest political level...