Word: eni
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Dates: during 1960-1969
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...they can own. Dozens of small independents have sprung up to plague the majors, buying gas cheaply from Continental refineries and then undercutting prices. Britain has been witnessing a cutthroat gas war for months, and last week it chalked up the first major casualty. Italy's state-owned ENI oil combine sold to British Esso its chain of 73 British stations and 40 new sites...
...British branch of ENI, called AGIP (Great Britain) Ltd., was launched four years ago by the late Enrico Mattei, ENI's aggressive boss. Alert to the British potential and anxious to bite into the home market of British oil companies (which then controlled 25% of Italian sales), Mattei opened the biggest, neatest stations that Britain had yet seen. He intended to add a refinery, but his deal to build one fell through. AGIP ran into increasing competition, began to lose money. ENI Boss Eugenio Cefis, who took over after Mattei died in an airplane crash three years ago, decided...
Pollution & Politics. Building transalpine pipelines poses mountain-size-and at times hill-size-problems. Unexpected construction problems and disputes with Swiss authorities over routing changes have put ENI behind schedule on the Central Europe pipeline. A 342-mile branch is still lying idle because the German town of Lindau refuses to allow the construction of a five-mile segment along the shore of Lake Constance. Reason: fear that the pipe might burst and spew oil into the lake, polluting the town's water supply. The new Trans-Alpine project has already encountered its first delay. Indecisive elections have left...
Both the Trans-Alpine and the Central Europe pipelines-Western Europe's largest current pipeline projects -were initiated by Ente Nazionale Id-rocarburi, the government-controlled Italian oil combine that owns refineries and distribution systems worth $1.85 billion on four continents. Despite its aggressive line drives, ENI has been plagued by problems that have delayed completion of many of its projects and dropped its annual earnings from $10 million to $400,000. Financially pressed, ENI last year was forced to accept ten oil companies as partners in the Trans-Alpine Line-ending forever its dream of monopolizing the Alpine...
...France. Soviet experts are training 650 Algerians as oil technicians at a school near Algiers, and a U.S.-British-French combine has just opened a $64 million plant at coastal Arzew to freeze natural gas and ship it to fuel-shy Britain in insulated tankers. Italy's giant ENI plans to build a refinery at Arzew on a fifty-fifty basis with Ben Bella...