Word: petrosud
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Dates: during 1955-1955
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ITALIAN OIL WELL has been brought in by Petrosud (privately owned by Italy's Montecatini and Gulf Oil Corp.) with oil at 2,200 ft. in the Abruzzi area 85 miles northeast of Rome, first find in the district. The new well is a big victory for private oilmen in their fight against Italy's state-owned A.G.I.P. (TIME, Nov. 29); the state company had previously explored the area for oil and failed to find a drop...
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