Word: mattei
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...head of E.N.I., Oilman Mattei is an implacable foe of any foreign-capital oil investment in his homeland. His enemies say that Mattei, more than anyone else, is responsible for scaring away the very type of enlightened foreign capital that Italy must have to complete its economic recovery. Italy, which has always had to import most of its coal and oil at high cost, has promising oil and gas formations, notably in the Po Valley. The big question is: Who will be allowed to develop the oil and who can do it best...
...Mattei, a carabiniere's son and a wartime partisan, got into the oil business in 1945 when he was made Northern Commissioner of E.N.I.'s predecessor, the state-owned A.G.I.P. (Azienda Generale Italiana Petroli), with the job of selling off its assets. Mattei defied the orders, kept his equipment and put prospectors to work in Italy's big Po Valley. Soon, Mattei was boss of all A.G.I.P. His geologists found a big methane gas deposit with an initial production (1.5 billion cu. ft.) greater than all the rest of Italy's fields. By 1953, Mattei...
Trickles & Troubles. No one questions Mattei's success in natural gas, but his attempts to give Italy an oil industry have failed. In the promising Po Valley, E.N.I, has produced only a trickle of oil, some 83,000 tons (636,000 bbls.) in 1953. Critics claim that E.N.I, has neither the capital nor the equipment to explore the Po Valley properly. By monopolizing all explorations, Mattei has spent badly needed Italian cash, including some dollar aid from the U.S., when he could have had U.S. firms spend their own money to explore the area. Even in E.N.I...
...wells with an average production of 350 tons daily in the Ragusa area (TIME, Jan. 25). The Anglo-Iranian Oil Co. has reported that it, too, has found oil. But when Gulf asked for permission to exploit its find last month, E.N.I, did everything possible to thwart the deal. Mattei started a campaign in Rome and Sicily, got the support of Communists who want no developments that would make Italy prosperous, thus cut their power...
...Socialists and Communists win the regional election this May, private oil companies may well be kicked out of Sicily altogether. However, an increasing number of thoughtful Italians are beginning to wonder if Mattel's state socialism will bring Italy its promised treasures. No one thinks that Enrico Mattei, who stands in well with Italy's political powers, is about to topple from his perch atop the Italian oil industry. But in Italy's Chamber of Deputies there is increasing talk of reviving a buried draft of a proposed law that would authorize E.N.I, to farm out part...