Word: enis
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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...
...construction companies are building 1,600 miles of Italy's handsome autostrade, using cement from IRI plants. IRI's Italsider subsidiary is Europe's biggest steelmaker. All this makes it much more diversified than its smaller if better known cousin, the ENI petroleum monopoly...
...Soviet oil through confiscated U.S.-owned refineries, pays in both money and sugar for the 2,500,000 tons of crude he is scheduled to get from Russia yearly. To get into the important Italian market, Moscow signed up with Oil King Enrico Mattei's mammoth state-owned ENI oil monopoly to deliver 12 million tons of oil in 1961-64 in exchange for 240,000 tons of steel pipeline tubing and 50,000 tons of synthetic rubber. The cost works out at about half the normal price for Persian Gulf crude...
...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...