Office of the Historian

835.2553/4–2650: Telegram

The Secretary of State to the Embassy in Argentina

confidential
Washington, April 26, 1950—7 p. m.

241. FYI SONJ1 and Cereijo reached agreement Apr 252 providing supply 20, 000 barrels crude daily for 6 months and 10,000 to 20,000 barrels fol 6 months at discretion SONJ. Agreement previously reached Ultramar providing 5,500 barrels daily for 1 year. Each agreement payable3 in dols over 2-year period. Provision made for early negot long-term agreement. Amer Fon Power offered sell basis one-fourth cash one-half over 10 year period one-fourth reinvested. Cereijo countered with one-half reinvested and conversations will continue BAires about May 15. Moving picture cos attempting reach agreement based on various quid pro quos including local investment one-half earnings but no agreement yet.

Acheson
  1. Standard Oil of New Jersey.↩
  2. Not printed.↩
  3. By the Argentine Government: the oil was to be imported into Argentina under dollar credits granted by the oil companies themselves.↩