Word: enrico
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...Fanfani prepared to leave for Washington to confer this week with President Eisenhower, Fanfani's ambitious friend Enrico Mattei, boss of Italy's state oil monopoly, E.N.I., gave the subject one kind of thoughtful attention. He hopped over to Morocco to sign an agreement giving him exploration and exploitation rights for the oil in an null tract in the Tarfaya province in western Sahara. The split: 75% of the profits for Morocco, 25% for Italy's E.N.I...
Died. Richard G. Herndon, 85, theatrical producer (first try: 1914's The Lady in Red), impresario who introduced Anna Pavlova and Waslaw Nijinsky to U.S. balletomanes, managed concert tours for Enrico Caruso, Mischa Elman, Jacques Thibaud; in Philadelphia...
...boss of Italy's state-run oil monopoly (ENI), Enrico Mattei is a bitter foe of private enterprise. In 1957 he bulled through a punitive Italian oil law which put such restrictions on private oil companies that Gulf, the last U.S. firm wildcatting on the peninsula, got out (TIME, Feb. 4, 1957). Five months ago he got a concession in Iran in return for a promise to turn over 75% of oil profits, thus overturning the fifty-fifty pattern now in effect in the Middle East...
...angry man was Enrico Mattel, boss of E.N.I., the state-owned oil and gas company which in little more than a decade has grown out of a near-bankrupt Fascist monopoly to become Italy's most successful economic enterprise. The "nasty thing," according to Mattei, was E.N.I.'s complete exclusion from Libya, where more than a dozen British, French and U.S. oil companies are engaged in a hard-driving search for oil. As Mattei told it, the Libyan government had suddenly reneged on a tentative agreement to give him a 17,000-sq.-mi. concession in the Libyan...
...many oil experts it seemed likely that Libya had been motivated by E.N.I.'s relative lack of capital, its undistinguished record in finding oil in Italy, and the understandable reluctance of a former Italian colony to admit an Italian government corporation to its territory. Enrico Mattei had a simpler explanation: unfair pressure on the Libyan government by U.S. oil companies...