MIDDLE EAST: FABULOUS ONASSIS AND OIL

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP75-00149R000600090088-4
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 4
• Document Creation Date: November 16, 2016
• Document Release Date: March 17, 1999
• Sequence Number: 88
• Publication Date: November 15, 1954
• Content Type: MAGAZINE

Sulaiman and Onassis negotiated an oil agreement that alarmed most of the world
Middle East: Fabulous Onassis and Oil
As clear as the evening summons of Finance and Economics Minister, Sheik .'?rangement as contrary to the terms of
the muezzin to Allah's faithful, sounds of A.bdullah cl Sulaiman, and Onassis, repre- its own concession. Aramco officials
trouble were heard last week throughout stinted by Sheik Mohammed Abdullah claimed that under the contract Saudi
the Arab world, from the rough hills of Ali Ridha. The chief terms: Arabia would be obliged immediately to
Algeria to the narrow valley of the Jor- 1-The formation of a company called ship 50 per cent of its oil in Onassis
dan. The French were surprised by a the Saudi Arabian Maritime Tankers Co., tankers while other companies gradually
sudden spread of terrorism from Tunisia Ltd., with at least 500,000 tons of tankers. would be cut out completely.
to hitherto peaceful Algeria. Jordan- 2-Shipment of all Saudi oil exports in Trade Throttle: In a speech in Los
Israeli relations took a quick and ominous Angeles on Sept. 29 B. Brewster
d
enni
ngs, presi
ent or the ~ocony-
But the most immediate and perhaps '
e,- 1,;., Vacuum Oil Co., said: "The proposal has
the gravest crisis mnnaarnart and
e
t
di
il
x
raor
nar
y far-reaching dangers. It is
ti irldn and L' Vents
and the international oil industry. Up completely contrary to the specific terms
until now this crisis has not made head- For months U.S. officials have of the Aramco concession, but even that
lines, although at one point American kept their fingers crossed while is perhaps less important than what it
and British policymakers feared it might a time bomb ticked away in the could do to world trade. Obviously, if a
follow the course of the Iranian oil dis- Middle East. This bomb was the given country with an exportable com-
pute. Now confidential advices from oil transportation agreement be- modity could require that all of that ex-
abroad indicate that King Saud has taken tween Saudi Arabia and the port be carried in its own ships, an
a hand and that a decisive and probably shipping magnate A.S. Onassis. importing country could with equal logic
hopeful turning point may be reached Here is the story of the agree- require that all its imports be carried in
shortly because of his efforts. mcnt-the explosive situation it its own ships. Thus, if all countries were
Baffling Arl: The central figure is created, how it seems likely to to follow the Onassis plan, there would
a fabulous Greek-Aristotle Socrates turn out, and the man behind it. be no international trade at all."
Onassis
o
n
f
ld
,
w
er o
a wor
wide tanker Onassis issued a counterblast on Oct. 4.
empire, of a dominant share in Monte H
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