Since 1929, when Dictator de Rivera seized U.S., British, French and Dutch oil properties and merged them into a graft-ridden state monopoly, U.S. oilmen have been kept out of Spain. Recently, Spanish industry, which has been pinched by an oil shortage, has prodded Dictator Franco into dickering with U.S. oil experts to come back into Spain and step up oil production.
Last week, the news leaked out that Caltex Oil Products Corp., a joint subsidiary of Standard Oil Co. of California and The Texas Co., had made a deal to help build and operate a refinery in Spain, near Cartagena,...
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