The agreements that may some day set thousands of oilwell pumps to work on the important job of increasing Latin American oil production welled up into news in two countries last week. Argentina was on the verge of signing a pattern-setting exploration and development contract with Standard Oil Co. of California when its politicians abruptly balked, forced a cautious re-examination of the whole deal. Guatemala laid down a come-and-get-it oil code that set hardboiled but workable terms by which it is willing to let foreign oil companies find and pump its oil....
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