CURRENT INTELLIGENCE BULLETIN - 1954/02/17

Document Type: 
Document Number (FOIA) /ESDN (CREST): 
02993980
Release Decision: 
RIPPUB
Original Classification: 
U
Document Page Count: 
5
Document Creation Date: 
August 20, 2019
Document Release Date: 
August 30, 2019
Sequence Number: 
Case Number: 
Publication Date: 
February 17, 1954
File: 
Body: 
Approved for Release: 2019/08/02 CO2993980 � T P-SEC-REP 17 February 1954 Copy No, 84 CURRENT INTELLIGENCE BULLETIN DOCUMENT NO. -I-2 NO CHANGE IN CLASS. V {1 DECLASSIFIED CLASS. CHANGED TO: IS S C NEXT REVIEW DATE. 0 0 9_ AUTH: HR 70-1141 DATE: tICIA.31-FiEVIE'WER: " VI� Office of Current Intelligence CENTRAL INTELLIGENCE AGENCY -TOP Approved for Release: 2019/08/02 CO2993980 Approved for Release: 2019/08/02 CO2993980 a vier A J I 1�.1.-: A SUMMARY GENERAL FAR EAST Japan asks American sponsorship of Asian regional conference (page 3). SOUTHEAST ASIA NEAR EAST - AFRICA Iraq plans increase in oil production (page 5). * * * * TOP SECRET Approved for Release: 2019/08/02 002993980 17 Feb 54 Approved for Release: 2019/08/02 CO2993980 1 %,-/.1. VI-A....01�1; A GENERAL 1. FAR EAST 2. Japan asks American sponsorship of Asian regional conference: Foreign Minister Okazaki suggested to Harold Stassen on 15 February that the United States take the lead in call- ing a conference of the free nations of the Far East and Southeast Asia to discuss a payments organiza- tion, similar to the European Payments Union, as a basis for greater regional cooperation. He explained that Japan could not take the initiative because of the widespread fear of Japanese economic aggression. Okazaki said that Japanese policy envisions the eventual development of a regional security organ- ization, but this is now considered premature in the absence of greater economic strength and mutual understanding. Comment: For the Japanese, such a conference would be vastly preferable to the anti-Communist con- ference recently proposed by South Korean president Rhee. 3 TOP SECRET Approved for Release: 2019/08/02 002993980 17 Feb 54 Approved for Release: 2019/08/02 CO2993980 1 %-./1 L3LA.iLL, A SOUTHEAST ASIA 4 TOP SECRET Approved for Release: 2019/08/02 CO2993980 17 Feb 54 Approved for Release: 2019/08/02 CO2993980 vila,I 1/4.11 01...%-dIA.L.. A. NEAR EAST - AFRICA 5. Iraq plans increase in oil production: A proposed diversion of the unused Kirkuk- Haifa pipeline to Lebanon's port of Sidon would increase the flow of crude oil from Iraq by about 6,000,000 tons annually, a 25-percent increase over its current production, Comment: Another 6,000,000 tons from this company, in which the Anglo-Iranian Oil Company holds a quarter Interest, would probably complicate any efforts to market Iranian oil. Iraq Petroleum has been contemplating this increase in production for several months. The Haifa pipeline has not been used since the Arab-Israeli fighting in 1948, and IPC has been under pressure from Baghdad to recoup the resulting loss. Diversion of the oil to Lebanon is likely. It would tend to induce Lebanon to ratify a 1952 pipeline agreement and thereby cease the agitation for its renegotiation. 5 TOP SECRET Approved for Release: 2019/08/02 CO2993980 17 Feb 54