Word: enis
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...Italians have taken to business gift giving with a frenzy, heavily favor French champagne or Italian spumante, Scotch and cognac. Martini & Rossi, Cinzano and Carpano all send out packages or cases of their best vermouth. ENI, the government-owned petroleum combine, gives champagne in decorative holders; IRI, the industrial combine, sends cases of high-quality Maccarese wine. No one cleans up in Italy like the Italian police. Companies have taken up the custom, long observed by the populace, of giving them presents at Epiphany. One result is that on Jan. 6 it is often difficult to spot a traffic...
...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...
...feeler from Cefis was snapped up by Esso, which ranks third in Britain and was delighted to add AGIP to its 8,000-station chain. Esso agreed to pay $11 million for the chain, a sum that gave ENI a modest overall profit on its investment and last week earned Cefis the compliments of Italian businessmen for consummating un buonissimo affare. Besides removing one of Esso's competitors and restoring the chain to private enterprise, the deal also gives Esso precious locations that it can utilize in its battle with leading British Petroleum and Shell...
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...