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NEWS
November 7, 1985 | United Press International
About 150 men were plucked from a giant oil-rig support vessel in the North Sea Forties oil field by helicopters Wednesday after the vessel's anchors broke in 100-m.p.h. winds, the Royal Air Force said. The RAF, coordinating the rescue from the oil-support vessel Tharos, 100 miles off Aberdeen, said the rescue was precautionary and there were no casualties.
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BUSINESS
September 29, 1989 | BRIAN HEWITT, Times Staff Writer
Sacks are down all around the National Football League. Points are up. And the agent for one Charger player says the team's owner, construction magnate Alex Spanos, is now taking game films home to study, as if they were profit statements, spreadsheets or the latest government figures on housing starts. Worse for Charger defensive coordinator Ron Lynn is that his immediate superior, first-year Coach Dan Henning, is still installing an offensive system.
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NEWS
September 3, 1988 | TYLER MARSHALL, Times Staff Writer
Local writer James Nicolson recalls the time, before the oil came in the 1970s, when most Shetlanders struggled for a living by farming the islands' grudging landscape or fishing the surrounding gray, unforgiving seas. "The only ones better off were the teacher, the minister and the doctor," Nicolson recalled. "They had steady jobs, new clothes and a better house. The rest of us were poor, but happy."
NEWS
September 3, 1988 | TYLER MARSHALL, Times Staff Writer
Local writer James Nicolson recalls the time, before the oil came in the 1970s, when most Shetlanders struggled for a living by farming the islands' grudging landscape or fishing the surrounding gray, unforgiving seas. "The only ones better off were the teacher, the minister and the doctor," Nicolson recalled. "They had steady jobs, new clothes and a better house. The rest of us were poor, but happy."
BUSINESS
September 29, 1989 | BRIAN HEWITT, Times Staff Writer
Sacks are down all around the National Football League. Points are up. And the agent for one Charger player says the team's owner, construction magnate Alex Spanos, is now taking game films home to study, as if they were profit statements, spreadsheets or the latest government figures on housing starts. Worse for Charger defensive coordinator Ron Lynn is that his immediate superior, first-year Coach Dan Henning, is still installing an offensive system.
NEWS
May 12, 1986
Two days after forming a new government, Norwegian Prime Minister Gro Harlem Brundtland announced a 12% devaluation of the kroner, effective today, as the first step in an austerity package to boost the nation's economy. Brundtland said that currency reserves "have dropped by 50 billion since last fall." Norway's economic crisis was fueled by a steep drop in the price of crude oil. North Sea oil and gas accounts for 20% of Norway's gross national product.
BUSINESS
December 27, 1988 | Associated Press
Temporary loss of a huge oil-storage vessel damaged in a North Sea storm could halt production for months at three oil fields in the region, a Shell UK official said. At current prices of $15 per 42-gallon barrel, the estimated combined daily output of 210,000 barrels is worth $3.15 million. It represents 10% to 12% of Britain's North Sea production. The modified tanker contained 100,000 tons of oil when it broke free in high seas and 60 m.p.h.
BUSINESS
January 17, 1989 | From Reuters
U.S. oil prices topped $19 a barrel today, the first time they have surpassed that level in 14 months as traders increasingly believe that OPEC will adhere to new production limits. In morning trading, the February contract on the New York Mercantile Exchange rose to $19.02 a barrel, up 14 cents from Monday's close. Prices last closed over $19 on Nov. 4, 1987. The members of the Organization of Petroleum Exporting Countries were subject to new output limits of 18.
BUSINESS
August 13, 1990 | From Reuters
The Organization of Petroleum Exporting Countries will meet soon to consider possible steps to minimize the impact of Middle East tension on international oil markets, the Saudi ambassador to the United States said today. The envoy, Prince Bandar Bin Sultan, told a news conference that consultations were already under way among OPEC members on holding an early meeting.
BUSINESS
August 2, 1990 | From Times Wire Services
Oil prices worldwide soared by as much as 15% to the highest level in four years today as Iraq's invasion of Kuwait revived fears about the security of supplies from the Middle East. A shock wave rolled through financial markets worldwide, echoing the oil embargoes of the 1970s that threw the oil-importing industrial world into an economic crisis.
NEWS
November 7, 1985 | United Press International
About 150 men were plucked from a giant oil-rig support vessel in the North Sea Forties oil field by helicopters Wednesday after the vessel's anchors broke in 100-m.p.h. winds, the Royal Air Force said. The RAF, coordinating the rescue from the oil-support vessel Tharos, 100 miles off Aberdeen, said the rescue was precautionary and there were no casualties.
NEWS
November 25, 1988 | From Times Wire Services
Crude oil prices shot up today after a tentative OPEC deal to end a bitter dispute over production between Iran and Iraq and reduce the cartel's output. Analysts were skeptical that the pact would last. OPEC ministers predicted that oil prices would jump to $18 a barrel if the accord is signed. But analysts said they did not believe that OPEC members could restrain production for more than a few months, if at all.
BUSINESS
January 18, 1989 | From Reuters
U.S. oil prices topped $19 a barrel Tuesday for the first time in over a year on signs that OPEC is adhering to a new production accord, but they later fell back slightly due to profit taking. In volatile trading, the February contract on the New York Mercantile Exchange rose as high as $19.21 a barrel, its highest since November, 1987, but then retreated. It ended the day at $18.95, with a gain of 7 cents.
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