Italy: End of a Feud

In Italy, where family feuds are common, an uncommon corporate vendetta has raged for a decade between E.N.I., the state oil monopoly, and Gulf Oil's Gulf Italia subsidiary. The grudge began after E.N.I, prospected unsuccessfully for oil around Ragusa in Sicily —and Gulf Italia, moving into the same area, brought in 50 wells. This victory by private enterprise so infuriated the late Enrico Mattei, E.N.I.'s leftist president, that he set out to drive Gulf Italia from Sicily. The Italian left, attacking foreign investors in general, jabbed especially at Gulf Italia's vice...