Word: texaco
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Balconies Too. The idea was to make the whole thing look like a South Sea archipelago. In February 1965, a consortium of oil companies (Texaco, Humble, Union, Mobil and Shell) went to work hauling in rock and sand fill to build four ten-acre islands. Palm trees as tall as 60 feet were transplanted from Santa Barbara and San Diego, and architects were put to work sketching terra-cotta and steel shells for the oil rigs, designed to look like handsome balconied apartment buildings and soundproofed to keep the drilling noise from echoing across...
...Mediterranean ports. That oil comes via two separate pipelines from Iraq to Tripoli and from Saudi Arabia to Sidon. Both lines run through Syria, whose extremist regime opposed ending the embargo and could easily close either line by twisting a few valves. The Trans-Arabian pipeline, jointly owned by Texaco, Standard Oil of California, Standard Oil (N.J.) and Mobil Oil, has been shut since the fighting erupted. Because some 20 miles of it runs through former Syrian territory, now occupied by Israel, the oil firms at week's end still hesitated to provoke Arab sensitivities by restarting the pumps...
...giant Jersey Standard, and aided by increased sales and firmer gasoline prices, the oil industry did well. Jersey set a record with half-year profits of $563 million. So did Texaco, whose earnings went up an impressive 8%, to $359 million. Mobil Oil also reported a half-year record with $184 million in profits...
...common issues listed on the New York Stock Exchange. Its relatively restrained rise has mirrored investors' doubts about the profit prospects of some of the D.J. giants in currently or recently troubled fields: steel (U.S. and Bethlehem Steel), autos (General Motors and Chrysler), oils (Texaco, Standard of California and Jersey Standard), chemicals (Du Pont, Union Carbide and Allied Chemical) and, of course, A.T. & T., the world's largest corporation. Because all the Dow industrials have large numbers of shares outstanding, it takes substantial sums from investors to push their prices up more than a mite. Many Wall Street...
...former Treasury Secretary Robert Anderson, soon emerged as the leading contender. Anderson was a steady visitor to Spain, even won an audience with Franco. Then, last November, Continental Oil pulled out of the Anderson consortium, and all its hopes were wrecked. A new group, including Gulf Oil, W.R. Grace, Texaco, and Standard Oil of Calif., entered the race with a combined bid. I.M.C. was left to fight it out with the quartet of giants. No one gave I.M.C. a chance...