COMPANIES UNDER ATTACK IN ARGENTINA
As a concession to popular pressure, Argentinats new president, Arturo Illia, announced October 30 that his government will cmcel "some" of the undesirable foreign oil contracts handed out by the Frondizi regime, mainly to the American monopolists,
The major companies involved are Standard Oil of New Jersey (Esso), ‘Panamerican International (a subsidiary of Standard Oil of Indiana), Ten= nessee Argentina (Tennessee Gas Transmission of Houston, Texas), Cities Service, Shell (British-Dutch) and the Italian firm ENI (Ente Nazionale Idrocarburi).
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Although Illia assured the American outfits that his government "has no intention of throwing | out the foreign oil companies," the Americans, who boast of holdings worth $397,000,000, at once formed a council to protect their companies! interests and began’ to organize conferences with Argentine officials,
Demands are widespread in Argentina for the can¢éellation of all oil contracts which were made illegally by Arturo Frondizi before he lost power to a military junta.