Word: petroleum
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Dates: during 1960-1969
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...long after he took over Italy's giant state-owned petroleum monopoly E.N.I, last fall, scholarly Marcello Boldrini, 73, closed a deal to buy crude oil from Esso. His move spurred speculation that E.N.I, might be turning away from its Russian oil suppliers to resume a romance with the "seven sisters"-the name that his predecessor, the late Enrico Mattei, used to describe the big Western-owned oil companies. Last week, after Boldrini returned home from a week's visit in Moscow, it was clear that E.N.I, intends to keep right on doing business with the Russians...
Moscow negotiations, the betting in Italy is that E.N.I, is working to extend the four-year agreement, which expires in 1965, by which it gets 3,000,000 tons of petroleum a year from Russia. The Russians certainly are not hesitant, since E.N.I, is by far their biggest commercial foreign customer. And E.N.I., which is currently building refineries in seven countries, wants Soviet oil to meet its growing demands. A diversified industrial complex as well as an oil company, E.N.I, has found trading with Russia doubly advantageous because it can barter manufactured goods for oil; 90% of the synthetic rubber...
...rise in southern Germany was inaugurated in Karlsruhe last week. Built by Jersey Standard, the $57.5-million plant will process 3,600,000 tons of crude a year-but its significance goes beyond these impressive figures. The new plant will draw its crude from a new and vital petroleum artery: the Rhone River Valley pipeline, which provides the first link from the Mediterranean into oil-hungry south-central Europe and helps to meet the commercial threat of the Russian pipe network now reaching toward the West through the Iron Curtain countries...
...Amerada Petroleum 500 117 58,500 Canadian Superior Oil 1,000 13 13,000 Dome Petroleum Ltd. 2,000 12 24,000 Superior Oil of California...
Syria, which nationalized all its banks and insurance companies after it melded into Nasser's United Arab Republic and later denationalized some when it broke away, is now expected to enter a new period of nationalization. Iraq last year nationalized virtually all the exploring concessions of the Iraq Petroleum Co., which is controlled by British, Dutch, French and U.S. oil companies. Indonesia is pressuring three major oil companies-Caltex, Stanvac and Shell-to turn over their refineries and sales outlets to the government, and Tanganyika last week informed a Belgian-controlled dock company that it will be nationalized...