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Oil Meeting / Saudi Arabia / United States Companies #245236

CBS Evening News for Sunday, Mar 07, 1976
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(Studio) Representatives of Saudi Arabia and 4 United States oil firms meet in Florida. Group has been partners with Saudi Arabia since 1973 in Aramco. Saudi Arabia completes transactions to completely take over from: Texaco, Exxon, Mobil and Standard of California.
REPORTER: Bob Schieffer

(Panama City, Florida) Rumors of OPEC (Organization of Petroleum Exporting Countries) meeting swept United States. Security heavy in Panama City. 5 private jets and Saudi oil minister, Sheik Ahmed Zaki Yamani arrive. Oil execs. taken to private resort. Reporters turned away. State Department says Yamani here for meeting with regard to Aramco. 4 United States firms want assurances of contd. access to Saudi oil at equitable prices.
REPORTER: Bruce Hall

(Studio) Federal Energy Admin. spokesperson say Saudi takeover should have no effect on oil prices.
REPORTER: Bob Schieffer

Reporter(s):
Hall, Bruce;
Schieffer, Bob
Duration:
00:02:10

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