BUSINESS ABROAD: The Japanese Wildcat

From 28 miles off the Saudi Arabia-Kuwait Neutral Zone in the Persian Gulf flashed word last week that the Japanese-owned Arabian Oil Co., Ltd. had brought in its first well. It came in the nick of time. The 6,000 barrels of oil that will rise daily from the ocean floor ended months of misfortune that had brought the company near bankruptcy. An eleven-day fire in its offshore platform had cost the cash-short firm $780,000. and stockholders had refused to ante up any more capital. Now, flushed with the glow of sudden prosperity and the promise of Japanese government help,...

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