A drop in oil production in the wake of the Iranian Revolution led to an energy crisis in 1979. Although the global oil supply only decreased by approximately four percent, the oil markets' reaction raised the price of crude oil drastically over the next 12 months, more than doubling it to $39.50 per barrel ($248/m3). The sudden increase in price was connected with fuel shortages and long lines at gas stations similar to the 1973 oil crisis.
Marc Rich was an international commodities trader, financier, and businessman. He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, and making oil deals with Iran during the Iran hostage crisis. He fled to Switzerland at the time of the indictment and never returned to the United States. He received a widely criticized presidential pardon from President Bill Clinton, on his last day in office; Rich's ex-wife Denise had made large donations to the Democratic Party.
Adnan Khashoggi was a Saudi businessman and arms dealer known for his lavish business deals and lifestyle. He was estimated to have had a peak net worth of around US$4 billion in the early 1980s.
Robert Kuok Hock Nien is a Malaysian billionaire business magnate, investor, and philanthropist. Since 1973, Kuok has lived in Hong Kong. According to Forbes, his net worth is estimated at $11.8 billion as of April 2023, making him the wealthiest Malaysian citizen and 96th wealthiest person in the world. As of April 2023, according to the Bloomberg Billionaires Index 2023, Kuok has an estimated net worth of $17.7 billion, making him the 97th richest person in the world.
The Eilat Ashkelon Pipeline Company operates several crude petroleum and refined petroleum products pipelines in Israel, most notably the Eilat Ashkelon Pipeline – which transports crude oil across southern Israel, between the Red Sea and the Mediterranean Sea. The EAPC also operates two maritime oil terminals as well as oil storage depots in the country.
The price of oil, or the oil price, generally refers to the spot price of a barrel of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus, and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level.
Trafigura is a multinational commodity trading company domiciled in Singapore with major regional hubs in Geneva, Houston, Montevideo and Mumbai, founded in 1993. The company trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals.
Pincus Green is an American oil and gas commodities trader. In 1983 Green and his business partner Marc Rich were indicted on charges of tax evasion relating to illegal trading with Iran. However in 2001 Green and Rich received a presidential pardon from president Bill Clinton.
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it is the world's largest commodity trader. In 2023, the company was ranked 59th in the Forbes Global 2000.
Ivan Glasenberg is a South African business executive and former chief executive officer of Glencore, one of the world's largest commodity trading and mining companies. He was the company's CEO from 2002 to 2021. Glasenberg has or had citizenship of South Africa and Australia. He became a Swiss citizen in 2011. He is also on the board of mining company Minara Resources Ltd.
Israel's role in the Iran–Iraq War consisted of support provided by Israel to Iran during the Iran–Iraq War from 1980 to 1988. During the war, Israel was one of the main suppliers of military equipment to Iran. Israel also provided military instructors during the war, and in turn received Iranian intelligence that helped it carry out Operation Opera against Iraq's Osirak nuclear reactor. The nuclear reactor was a central component of Iraq's nuclear weapons program.
Denise Rich is an American-born Austrian singer-songwriter, socialite, philanthropist and political fundraiser.
650 Fifth Avenue is a 36-story 150 m (490 ft) building on the edge of Rockefeller Center on 52nd Street in New York City.
Daniel Ammann is a Swiss journalist and author. He was educated at University of Zurich, UC Berkeley and Fondation Post Universitaire Internationale in Paris. He holds an MA in political science, history and constitutional law.
Claude Dauphin was a French billionaire businessman and executive chairman of Trafigura Beheer BV, a company specialising in commodity trading. He was a founding partner of Trafigura and its CEO for a time. In March 2013, his net wealth was estimated at $1 billion by Forbes. Dauphin died from cancer in a hospital in Bogota at the age of 64 after two-years with lung cancer.
Fred Mouawad is a Lebanese businessman from Zgharta, Lebanon and based in Bangkok, Thailand. He has founded and is the CEO of seven companies. In 2013, Wealth-X named Mouawad the eighth richest diamond owner in the world, with a net worth of $1.1 billion.
Aristotelis Mistakidis is a Swiss-based Greek metals trader who became a billionaire working for Glencore. He has joint Greek/British citizenship.
Uri Singer, is a businessman and film producer. He is the owner and CEO of Passage Pictures.
Trouble is a 2009 novel by Kate Christensen. It is about two 40-something friends, Josie from New York and Raquel from Los Angeles, and their adventures in Mexico City.
Torbjörn Törnqvist is a Swedish billionaire, and the CEO and co-founder of Gunvor, "one of the largest commodities conglomerates in the world", with the Russian billionaire, Gennady Timchenko.
