Word: idrocarburi
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...nationalize its oil industry, worried oilmen instinctively turned their eyes to Rome, as Iraq's likeliest collaborator. There, in a modest Rome office, sits lean and nervous Enrico Mattei, 55, the chief of Italy's state-owned oil and gas monopoly, called E.N.I, (for Ente Nazionale Idrocarburi). By shrewdly bargaining with any government that wants to deal in oil, Mattei has made E.N.I, so powerful that Italians dub it "the state within the state...
...Abruzzi on the Adriatic, last week struck its rig, announced that it was "renouncing the oil search and oilfields exploitation on the Italian continent." With that, the last U.S. company in Italy stopped hunting oil on the mainland, leaving a clear field to the state-owned Ente Nazionale Idrocarburi (formerly the Fascist A.G.I.P.) that has grown under government pampering into a $100 million combine with a stranglehold on Italy's oil and natural gas. Four years ago, after spending some $10 million to find oil in the Po Valley...
...Fourth World Petroleum Congress, oilmen from 44 nations chose Rome, headquarters of Italy's monopolistic Ente Nazionale Idrocarburi (E.N.I.), the state-owned oil company that has consistently fought private international development of Italy's oil resources (TIME, Nov. 29). Italy-had offered to be host to the congress, and the oilmen had accepted. The 3,200 delegates hoped to impress E.N.I. and its Boss Enrico Mattel with the power and efficiency of private oilmen, thus persuade E.N.I, to be more cooperative...
...many of its markets disappear behind the Iron Curtain, is in bad shape, last year slumped to 117 on the national production index (1938 = 100), compared to 180 for industry as a whole. Such big tax-supported state monopolies as Institute per la Ricostruzione Industriale (I.R.I.) and Ente Nazionale Idrocarburi (E.N.I.) spread over Italy's economy like a ground fog, dampening the growth of private business initiative (TIME...
Enrico Mattei, handsome boss of Italy's big Ente Nazionale Idrocarburi state oil and gas monopoly (TIME, Nov. 29), flew across the Atlantic last week to make a deal that will give his country its first doorway into the synthetic-rubber industry. In Manhattan, Mattei signed contracts with Phillips Petroleum Co. and Union Carbide & Carbon Corp. for their processes and help in building a $75 million synthetic-rubber plant at Ravenna, in the Po Valley. It will turn out 35,000 tons of GR-S rubber and 350,000 tons of nitrogen fertilizer annually from nearby methane deposits...