Word: mattei
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...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...
...unanimous vote, Iran's Senate last week ratified an oil pact that was a major break in the traditional fifty-fifty profit split that Middle Eastern governments give foreign prospectors. To Italy's state-run ENI and its ambitious boss. Enrico Mattei, Iran granted twelve-year drilling concessions for a strip on the Gulf of Oman, a submerged area off Abadan, and a promising 6,800-sq.-mi. area south of the fabulous Qum find (TIME, May 6). But to Iran ENI gave up to 75% of the profits from any oil find it may make...
Apparent front-runner in the race for the Qum oil concession is Italy's state-owned ENI oil and gas monopoly, headed by ambitious Enrico Mattei, who wants to force Italy's way into the international consortium of British, Dutch, French and 14 U.S. oil companies that holds the concession on Iran's older oilfield along the Persian Gulf. A fortnight ago ENI had reportedly closed a deal to exploit Qum itself. Last week it was disclosed that ENI had merely initialed a contract, subject to ratification by the Iranian Parliament, to explore three other areas. Under...
...banks, have long since outlived their functions and represent a net loss to the Italian taxpayers. But even more of a menace to Italy's economic health are such aggressive, purposeful enti as E.N.I., the burgeoning oil and gas corporation which, under the leadership of hard-driving Enrico Mattei (TIME, Nov. 29, 1954), has waged a determined fight to prevent private capital from sharing in Italy's oil development...