Oil imports during Arab boycott reveal leaks and delays
A U.S. government report shows millions of barrels entered from boycott nations during November to February. Saudi Arabia supplied 25.8 million barrels, Libya six million, Algeria 3.7 million, Kuwait 3.0 million, Qatar 962,316, Iraq 515,299, and Tunisia 1.0 million with later shipments tapering. Canada led with 112.3 million barrels, Venezuela 64.1, Nigeria 55.3, and Iran 46.2, amid refining and transit practices cited by Commerce Department officials.
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Washington
UPI
U.S
Commerce Department
Saudi Arabia
Libya
Tunisia
Algeria
Kuwait
Qatar
Iraq
Saudia Arabia
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Origi Jackson
Canada
Venezuela
Nigeria
Iran
Aramco plans to boost Saudi oil output capacity
SAN FRANCISCO AP The American Arabian Oil Co will explore for ai in an effort to expand Saudi Arabian production capability from nine million barrels a day to 10 million Standard Oil Co of California said Monday Standard spokesman Emmett Britton said the decision was made at a hushed meeting of the Aramco board of directors last week Aramco now produces about 5.5 million barrels a day an increase of about one million barrels since the Arab oil embargo Comimporarty Wah Suspend ed. Britton said the expanded capability would not necessarily mean a significant increase in oil output because the Saudi government controls production Aramco directors did not discuss expansion of the government's share in the Middle East oil production Britton refused comment on reports that Aramco directors discussed the possibility that the embargo would be reimposed if agreement is not reached between Israel and Syria by June 1
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San Francisco
American-Arabian Oil Co
Standard Oil Co
California
Standard
Emmett Britton
Aramco
Britton
Middle East
Ment
Israel
Syria
Oil tax reform bill defeated in Ways and Means panel
The House Ways and Means Committee voted 13 to 12 against an oil tax reform amendment that would have added 2.1 billion dollars to federal revenue over two years by tightening windfall profits taxes while offering plowback loopholes for exploration and development and moving to phase out depletion allowances. The bill, backed by oil-state interests, aimed to revamp offshore and international tax treatment and project a 16.8 billion dollar revenue rise through 1979. Chairman Wilbur Mills cast the deciding vote against the amendment led by Rep. Joseph Karth.
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Washington
House
Ways and Means
Wilbur’ Mills
D-Ark
Joseph Karth
D-Minn
U.S
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