U.S. OIL FIRMS
Argentina Adamant (N.Z. Press Assn.—Copyright) BUENOS AIRES, Nov. 10. The United States Undersecretary of State (Mr Averell Harriman) left Buenos Aires today after failing to persuade Argentine authorities they should drop plans to cancel contracts with United States and European oil firms, United Press International reported, Mr Harriman, on a special mission for President Kennedy. flew to Sao Paulo, Brazil, to attend an interAmerican finance ministers’ conference on the Alliance for Progress. The Latin American aid programme had been seriously jeopardised in Argentina by the insistence of the new Government of President Arturo Illia on fulfilling campaign pledges to annul oil contracts, United States sources said. The Argentine Government, in a communique issued after the talks with Mr Harriman, said it "ratifies its sovereign, irrevocable decision to annul the oil contracts, an act which it will carry out next week.” The communique said the Government did not intend to “injure legitimate rights.” It said that “in the case of disagreement Argentine justice would determipe what was correct” An estimated 397 million dollar investment is at stake for American oil firms.
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Press, Volume CII, Issue 30286, 12 November 1963, Page 13
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183U.S. OIL FIRMS Press, Volume CII, Issue 30286, 12 November 1963, Page 13
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