Word: texaco
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...recessed last week, but it seems likely that in the end the Saudi government will have paid some $2 billion for Aramco. The chief questions still to be negotiated are how much the Saudi government will pay Aramco's American owners (Exxon, Mobil, Standard Oil of California and Texaco) to manage and operate the wells and pipelines, and how much of the crude that is produced the Saudis will guarantee to sell to the American companies...
Forty percent of the Saudi crude yield belongs to the four members of Aramco-Texaco, Mobil, Exxon and Standard Oil of California. Sixty percent belongs to the Saudi government. The Aramco companies must ante up taxes and royalties on their share, calculated on the basis of a theoretical "posted price." It is this posted price that the Saudis reduced-from $11.65 to $11.25 per bbl. for its Arabian light crude. But at the same time, they sharply raised the taxes and royalties...
...price increase had helped West Virginia to start coal operations again, reopen the mines and reinstate thousands of jobs. He said, "Don't ever lower oil prices below those of alternative sources of energy." I want to know, are you Americans always going to think of Exxon and Texaco? What about West Virginia...
...officials admit that the agency was remiss in not having all its high officials make full financial disclosures. That step, the GAO says, would have revealed that 19 of the agency's 125 top employees held stock in gas-producing firms under FPC jurisdiction, including Exxon, Texaco and Tenneco. Moreover, seven of these officials were administrative-law judges who preside over cases that come before the FPC, and in at least one case, a judge apparently presided over a hearing involving a company in which he held stock...
...Texaco...