Gulf oil pact
(N.Z.P.A.-Reuter—Copyright) KUWAIT, October 10. The Persian Gulf oilproducing countries had gained only an immediate 5 per cent increase on their 20 per cent participation in oil concessions under a new agreement with Western oil companies the newspaper, “Al Syasseh,” reported today. No details were given of the agreement, which was reached in New York after nine months of negotiations ranging over three continents. Sources in New York say that one of the main provisions is a clause under which the percentage interests of the Gulf State signatories — Saudi Arabia, Qatar, Iraq, Kuwait, and Abu Dhabi — will gradually rise to reach a maximum level of 51 per cent by 1985 in the companies’ existing concessions, to allow the countries to acquire the technical knowledge necessary for participation.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19721011.2.114
Bibliographic details
Press, Volume CXII, Issue 33044, 11 October 1972, Page 15
Word Count
129Gulf oil pact Press, Volume CXII, Issue 33044, 11 October 1972, Page 15
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in