Word: ragusa
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Dates: during 1960-1969
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...Italy, where family feuds are common, an uncommon corporate vendetta has raged for a decade between E.N.I., the state oil monopoly, and Gulf Oil's Gulf Italia subsidiary. The grudge began after E.N.I, prospected unsuccessfully for oil around Ragusa in Sicily -and Gulf Italia, moving into the same area, brought in 50 wells. This victory by private enterprise so infuriated the late Enrico Mattei, E.N.I.'s leftist president, that he set out to drive Gulf Italia from Sicily. The Italian left, attacking foreign investors in general, jabbed especially at Gulf Italia's vice president and operating head...
...return for E.N.I.'s purchase of 12.5 million tons of crude over a five-year period, Pignatelli offered to let E.N.I, operate and market the output of Gulfs Ragusa field, which had long been the main cause of friction between the two companies. E.N.I, bought the deal. Last week, as he waited for the formal signing, Nicky Pignatelli happily tooled his red Ferrari around Rome, where he likes to drive through the piazzas at high speeds. "Many princes are given them early," he said of the car. "I waited till 40 to get mine. I think...