INTERNATIONAL
WORLD WIPE
CHEMISTRY
Mutual Security Agency stops oil supplies to Marshall Plan countries because of suit against oil companies . . . India searches for less expensive pectin own dollar resources or of finding other nondollar suppliers. There is reason to believe that at least for the moment the larger American oil companies operating in Italy with their own refineries will finance supplies of crude oil themselves. But all independent Italian oil refineries will be affected. It is estimated that the gap to be filled during the next three months will be about 290,000 tons of crude oil. The obvious solution would be sterling oil ffom Kuwait, but apart from the fact that its price is rather higher, owing to the long tanker haul from the Persian Gulf, the possibility of sufficient quantities of sterling oil being available to fill the gap is doubtful. Furthermore, this crisis has arisen at a time when both the Italian Treasury Minister, Signor G. Pella, and the Foreign Trade Minister, Signor U. La M alfa, are absent from Italy for the IMF meeting in Mexico City. So far, no meas ures have been adopted to face this new serious situation. There are indications, however, that this oil crisis may bring about a radical change in the Italian government's attitude toward Persian oil. Up till now the Italian government has stated firmly that it will not grant import licenses for Persian oil. A few days ago the Italian Ambassador in Teheran visited Persian Prime Minister Mossadegh. Ac cording to reliable but unconfirmed re ports, the subject discussed was oil, with particular reference to the Italian Epim (Ente Petrolifero Italia Medio Oriente) company. This concern already has a* contract with the National Iranian Oil Co., and attempted recently a first shipment of Persian oil with the small tanker Rose Mary, which is still in Aden pending a court ruling on the ownership of its cargo. If the Italian government were to de cide to support Epim's venture, the whole Make 'em situation would change, and there is little doubt that ways and means would be found to ship Persian oil to Italy. Such a course Let MM&R flavor or scent your products could not but tempt the Italian govern . . . then watch folks reach for 'em ! And ment, as the Persian oil would be paid for like Oliver Twist they'll be back for more. Leading suppliers to 67 industries since in Italian goods exported to Persia on a 189!», MM&R has the technical know-how barter basis. and high-quality stocks to put your products on the best-seller list . . . at surItaly already has a barter trade agree prisingly low cost. ment with Persia in which, however, oil So, whatever your flavor or odor problem, whatever your budget, call on is not included. The price would also he MM&R. Get full information on MM&R very favorable, as for short-term contracts Essential Oils, Perfume Oils, Flavors, Neutralizes, Balsams, Oleoresins and lor the coming three months the NIOC is Certified Colors — all premium quality, offering oil at $8.70 per ton f.o.b. Persian all modest in cost. Gulf. Meanwhile, Epim of Home is going ahead with arrangements for the imple mentation of its contract with the National Iranian Oil Co. tr/,à?e. According to this contract, Epim is held 0ϊη
