Word: oilmen
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...Guatemala, the companies had some qualms. "The law is workable, but not liberal," said California Standard's special representative, Frank Plaza. Oilmen think that if oil is found in that country it will be in the sparsely settled jungle region in northern Petén. near the Mexican oilfields. Equipment will have to be flown or dragged in. Under the circumstances, Guatemalan requirements that each company drill at least one well every six months on each concession may be burdensome. Said Lionel Weidey, Jersey negotiator, "Guatemala's first barrel of export oil will cost $50 million...
...TIME said, "In the past three weeks, 173 Palestinian Arabs have been quietly deported-121 of them Aramco employees-and U.S. oilmen cannot get an official explanation...
...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...
Italy's oil industry desperately needs foreign capital and know-how. But foreign oilmen have stayed out, largely because a new mining bill favorable to foreign capital has been fought by E.N.I. and pigeonholed in Italy's Parliament since...
...Budget Minister Ezio Vanoni, a steadfast Mattei supporter, at the closing session: "To realize these sources of wealth . . . asks the collaboration of all forces and all initiatives. The Italian government is hence pledged to friendly countries not to neglect exploitation of whatever resources exist in this country." To U.S. oilmen in Italy, it all had the sound of progress. Said one: "I still want to see some action before I get too enthusiastic. But the fact that he would even make such a speech is grounds for optimism...