LONDON (Oct. 22)
Sale of the Shell Oil and British Petroleum distribution and marketing facilities in Israel to a partnership to the Isaac Wolfson interests in Britain and Petrofrance of France “will set Israel free from the international oil combines,” the financial editor of the London Daily Express reported today. He reported that both seller and buyer were eager to conclude the transaction and that only the price remained to be hammered out. He pointed out that the Consolidated Refineries at Haifa, owned jointly by Shell and British Petroleum, were not up for sale and were not involved in the present negotiations.
Informed sources told the JTA today that a “new factor” had entered into the situation and that nothing was likely to be settled with respect to sale of the oil facilities in Israel until next month.