Word: eni
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Dates: during 1950-1959
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...engineer last week. "They have instilled in the whole area an attitude that work can be fun, too." Now rating top priority in Frondizi's budget, YPF will drill 4,100 wells on its own by 1965, has let contracts to Kerr-McGee, Southeastern Drilling and the Italian ENI for another...
Italians agree that Enrico Mattei is some go-getter. A policeman's son, slim, faultlessly tailored Financier Mattei in 14 years has built the state-owned ENI oil and gas monopoly from a stagnant relic of fascism into the nation's most powerful business enterprise, a sprawling empire that also makes soap and margarine and manufactures iron and steel. But Mattei has many enemies who dislike his contempt for private enterprise, resent his roughshod methods, and fear the considerable political power he wields as ENI's boss...
...actions of Premier Antonio Segni's regime. The government consistently denied that taxpayers' money was backing // Giorno, Last week Mario Ferrari-Aggradi, head of the government ministry that controls state properties, stunned Senators by candidly acknowledging that ΙΙ Giorno does indeed belong to Mattei's ENI oil monopoly, "as of now." "ENI is no longer just a state within a state," shouted one Senator, "but a state against the state...
Money & Motels. As a civil servant, Mattei was appointed head of Mussolini's nearly defunct oil exploration agency in 1945, with orders to liquidate it. Instead he poured money into research and discovered vast fields of natural gas in the Po Valley. Today ENI gas, pumped through 3,100 miles of ENI's own pipelines, supplies 2,500,000 Italian families and 2,000 factories...
...ENI's assets total some $2 billion, and receipts run to $500 million annually, but exactly what it spends and earns is a mystery even to the government owners; its balance sheet is, by Mattei custom, uninformative. With it he can buy political influence-he is a lavish contributor to the Christian Democratic Party-but Mattei, independently wealthy, lives almost austerely in a Rome hotel, turns over his salary to charity. At 53, his main interest outside of ENI is trout fishing. "I am going to retire at 60," he says, and critics ruefully acknowledge he is so well...