When President Carlos Castillo Armas booted out Guatemala's Communist-line government last June, one of the many burdens he inherited was a set of leftist petroleum laws admirably designed to keep the country's oil in the ground by frightening investors and prospectors away. Last week, in a temporary decree. Castillo Armas opened the entire national territory to surface or air exploration by reputable Guatemalan or foreign oilmen. Details of concessions for future development were left for a permanent oil law, now being prepared with the help of Venezuelan technicians.
...
To continue reading:
or
Log-In
