Word: petroliers
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...pocketbooks.Still, there are few precedents for the problems faced by Arthur G. McKee & Co., a Cleveland engineering firm that does a $154 million-a-year business designing and building industrial plants around the world. Independence-minded employees of the company's subsidiary in Rome, Compagnia Tecnica Industrie Petroli (CTIP), are staging an outright corporate rebellion...
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...
...deal gives Standard a nicely rounded program in Italy. The refineries will buy crude from Standard's Near East fields (thus saving Italy $4,200,000 annually in dollar imports), will sell refined products to SIAP (Standard-Italo Americana Petroli), Standard's Italian marketing subsidiary. Standard would also like to drill for oil in the Po Valley, where government-subsidized explorations have already struck a rich supply of methane gas. But Standard has run afoul of the old Italian law, which gives the government absolute title to all oil and minerals discovered beneath the surface of the earth...
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