Word: mattei
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Dates: during 1960-1969
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...Manuelli is not a buccaneering empire builder in the manner of the late Oilman Enrico Mattei. "I welcome competition," he says. "After all, the more steel we have, the better for Italy...
Considering Boldrini's age, Italians are already speculating on his successor. The morning line favors Eugenio Cefis, 42, who moved up to Boldrini's vice presidency last week. Cefis (pronounced Cheh-feece) met Mattei in the anti-Nazi resistance after the collapse of Mussolini and stayed on to help Mattei negotiate many of E.N.I.'s oil prospecting deals...
Boldrini predictably vowed to continue Mattei's policies, which involved buying huge shipments of oil from the Russians, offering cut-rate competition for private Western oil majors for drilling and refining rights in Africa and Asia, and aggressively tightening E.N.I.'s grasp on the Italian economy through interests ranging from fertilizers to cement. But Boldrini is neither young nor dynamic and much prefers his off time job as statistics professor at Rome University. He is being referred to as an "interim Pope...
Politics in the Oil. Because Mattei was a national hero, Fanfani had to give the appearance of preserving his policies. As usual, there was plenty of politics mixed in the oil. E.N.I, in its freewheeling way is much admired by the Nenni Socialists, whose displeasure could bring down Fanfani's precariously balanced Cabinet. Many Italian politicos are beholden to E.N.I., which under Mattei practiced a deft and munificent nonpartisanship. E.N.I, was one of the largest contributors to Fanfani's Christian-Democratic Party, gave generously to other political parties. Italian politicians who could find time to write reports...
Signs of Softening. Whoever becomes E.N.I.'s long-term chief, it is unlikely that he will command Mattei's absolute powers. Studies by other oilmen find that E.N.I. is heavily in debt and depends on long-term loans for two-thirds of the total capital invested in its operations, v. the 8.4% average for private oil companies. E.N.I, reportedly earns only 1.6% on this capital, while private oil companies return 12% on the average...