Word: texaco
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...sellers will be nine of the world's largest oil companies, including British Petroleum, Jersey Standard, Gulf, Texaco, Royal Dutch/Shell and Mobil. The various Arab governments will pay each firm the book value of its real estate and equipment (which was often understated for tax purposes), and add something extra to compensate for the loss of future profits because of the transfer of ownership. The price will run to billions of dollars. But the oil-producing countries will be able to squeeze it all out of the oil companies, for the firms agreed to buy back each country...
...tanker, owned by the Wilheinsin Corp, of Oslo, was on charter to Texaco, Inc., whose officials announced that the corporation would assume all costs in an effort to speed up the work...
Last summer I worked as a crewmember aboard several Texas Oil Company tankers, sometimes calling Port Arthur, Texas where both Gulf and Texaco have large refineries. My main interest at the time was filming a movie on oil pollution; Gulf, Texaco and the other big oil companies have confronted pollution with great aplomb in their advertising, but they have taken little action to change actual shipboard procedures such as cleaning cargo tanks at sea. There were no black officers aboard any of the ships I was on, though there were many unlicensed black seamen. Gulf, Texaco, Esso, and other major...
...ships reflects to a large extent policy ashore. Port Arthur is a community of some 70,000 people, about 47 per cent of whom are black, while only 18 per cent of the 3600 employees at the Gulf refinery and 20 per cent of the 5300 employees at Texaco are black. Only two or three blacks at each refinery are in executive or managerial positions...
Although both Gulf and Texaco are enormously wealthy and their refineries at Port Arthur are the city's main industry, neither company has made any substantial effort to improve conditions in the black community. Many blacks in Port Arthur live in run-down one-story clapboard buildings on the outskirts of town while the downtown area toward the new Jefferson City shopping center sparkles with modern Gulf and Texaco stations at nearly every other corner, like alternate squares on some garish checkerboard...