835.6363/437: Telegram
The Chargé in Argentina ( Cox ) to the Secretary of State
[Received 8 p.m.]
144. Embassy’s despatch 1061 [1161] of April 2921 and subsequent. Executive decree22 published today prohibits exportation and limits as from August 5 next importation of petroleum and liquid hydrocarbons under what, in effect, is a license system determined and operated by the YPF,23 the Government owned oil administration. Local heads of Standard Oil Company and Texas Company inform me that decree will have far-reaching effect on their importations of crude oil, roughly estimated in the case of Standard at 40 per cent and in the case of Texas at practically 100 per cent. I understand Standard Oil Company is consulting with the British oil companies here with a view to joint action through legal channels. Resume of decree as published in today’s press being forwarded by air mail tonight.