The International Petroleum Cartel (reprint); Staff Report to the Federal Trade Commission Submitted to the Subcommitteeon Monopoly of ... August 22, 1952. [Reprinted] April 1975 |
Common terms and phrases
Achnacarry Achnacarry agreement agreed American group American oil Anglo-Iranian Oil Anglo-Persian Aramco arrangements Bahrein barrels daily British cartel committee contract cost countries crude oil December directors effect export foreign French Gulbenkian Gulf Oil Corp Gulf's Guy Wellman H. G. Seidel Ibid important included interest international oil companies International Petroleum Iran Iraq Iraq Government Iraq Petroleum Italics added Jersey and Socony Jersey Standard joint July Kuwait oil Kuwait Oil Co letter memorandum Meneg ment Middle East NEDC negotiations Netherlands West Indies obtained oil concessions operations participants parties percent petroleum products pipeline principles provisions purchase quantities quotas red-line agreement refined products refinery reserves restrictive Royal Dutch-Shell royalty Saudi Arabia share Shell Socony Socony-Vacuum Standard New Jersey Standard of California Standard Oil Standard Oil Co Stuart Morgan subsidiary supply Texas Texas Co tion trade Turkish Petroleum United Venezuela W. C. Teagle
Popular passages
Page xiii - To investigate, from time to time, trade conditions in and with foreign countries where associations, combinations, or practices of manufacturers, merchants, or traders, or other conditions, may affect the foreign trade of the United States, and to report to Congress thereon, with such recommendations as it deems advisable.
Page 217 - July second, eighteen hundred and ninety, shall be construed as declaring to be illegal an association entered into for the sole purpose of engaging in export trade, and actually engaged solely in such export trade, or an agreement made or act done in the course of export trade by such association, provided such association, agreement, or act is not in restraint of trade within the United States, and is not in restraint of the export trade of any domestic competitor of such association...
Page 353 - The Administrator shall provide for the procurement in the United States of commodities under this title in such a way as to (1) minimize the drain upon the resources of the United States...
Page 217 - ... approved October fifteenth, nineteen hundred and fourteen, shall be construed to forbid the acquisition or ownership by any corporation of the whole or any part of the stock or other capital of any corporation organized solely for the purpose of engaging in export trade, and actually engaged solely in such export trade...
Page 126 - Ltd., on a 50-50 basis to operate the concession. At the insistence of Anglo-Persian, the contract establishing the operating company contained a provision that neither party would use oil from Kuwait to upset or injure the other's "trade or marketing position directly or indirectly at any time or place...
Page 119 - Government; and he further binds himself, his heirs and successors not to cede, sell, lease, mortgage, or give for occupation or for any other purpose any portion of his territory to the Government or subjects of any other Power without the previous consent of Her Majesty's Government for these purposes.
Page 217 - An Act to protect trade and commerce against unlawful restraints and monopolies," approved July second, eighteen hundred and ninety, shall be construed as declaring to be illegal an association entered into for the sole purpose of engaging in export trade and actually engaged solely in such export trade, or an agreement made...
Page 117 - If the judgment is to pay a fine and that the defendant be imprisoned until it is paid, the court upon imposing sentence may direct that the execution of the sentence of imprisonment be suspended for such period of time, and on such terms and conditions as it shall determine, and...
Page 102 - American group that the^red-line agreement was dissolved, the French (CFP) filed a suit in the British courts to enforce the agreement and to obtain their proportionate share of any interest which the American group might secure in Aramco. But in November 1948, before the court case came to trial, a new agreement was negotiated freeing the IPC groups from many of the restrictive provisions of the red-line agreement and permitting the American group to purchase an interest in Aramco.
Page 101 - Three tried, either individually or collectively, for almost 7 years, to alter the red-line agreement in such a way that they would be able to neutralize the competitive effects of Standard of California's operations, with, however, only partial success. When World War II interrupted negotiations, the IPC groups had reached a temporary understanding among themselves in the form of an agency agreement for purchasing Bahrein's production. This...