Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Just as has been the case all year, the hottest stocks were in the three areas that hold out the most promise for rapid growth and high profits in the energy-scarce, tension-riddled 1980s: oil, defense and high technology. With petroleum prices once again rising, Exxon shares leaped to an alltime high of $87.75, while Royal Dutch Petroleum, another big gainer, rose to a record $111.50 a share but lost a few points at week's end. Raytheon, a major defense contractor whose stock has nearly doubled in value during the year, closed the week...
...allegations involve an elaborate plot to falsify the tax categories of petroleum products. One of the alleged masterminds was the multimillionaire oil company owner Bruno Musselli, 55, who has reportedly fled to Switzerland. Petroleum taxes in Italy are graduated; the tax on gasoline, for instance, is 30 times higher than that on heating oil. By forging the identifying document of a shipment -or, in some cases, switching the oil-refiners and distributors could pocket the illegal tax benefits. Then, said investigators, they would bribe Guardia officers, politicians, inspectors and truckers to keep quiet...
...anonymity, Olayan is well known to influential Americans such as Occidental Petroleum Boss Armand Hammer, former Bechtel Chief Stephen Bechtel and Chase Manhattan Bank Chairman David Rockefeller. Says Olayan, whose investment in Chase is second only to Rockefeller's 1.7%: "I make quite sure that my share is always smaller than his." The man in charge of Olayan's U.S. operations, run from its headquarters on Manhattan's Park Avenue, is ex-Treasury Secretary William Simon, who is also one of Ronald Reagan's advisers...
...build these things." The shortage of both engineering Ph.D.s and expert faculty arises from a booming industrial technology that has created a record demand for young engineers and pushed undergraduate enrollments in the field to an all-time high of 340,488. Today an average chemical, electrical or petroleum engineer with a brand new bachelor's degree can easily begin working at a salary of $22,000 annually. Some start as high as $27,000. Such salaries lead new engineers to view graduate schools as an unnecessary expense. Mark Gorski, 24, a 1980 B.S. in mechanical engineering from Tulane...
...important source of automotive fuel instead of as a sweetener on dinner tables. Brazil has embarked on a crash program to manufacture ethyl-alcohol automobile fuel from sugar cane. And last month, when the Persian Gulf war halted oil shipments from Iraq, which supplies 50% of Brazil's petroleum imports, the government slapped an emergency ban on all new sugar export contracts. The action is expected to remove at least 500,000 metric tons of the commodity from the world's 1981 supply...