THE ONASSIS AGREEMENT

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80R01443R000200370002-9
• Release Decision: RIFPUB
• Original Classification: C
• Document Page Count: 2
• Document Creation Date: December 9, 2016
• Document Release Date: December 3, 1998
• Sequence Number: 2
• Publication Date: July 21, 1954
• Content Type: BRIEF

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THE ONASSIS AGREEMENT
1. Subject two conditions, Onassis tankers will
have right to ship Saudi oil from Saudi
ports and pipeline terminals outside
country. Conditions look okay but are
loaded:
A. ARAMCO-owned tankers, those owned by
parent companies, and purchasing
companies will have first priority
in carrying Saudi oil provided ships were
registered in name of companies and
regularly transporting Saudi oil be-
fore end December 1953. (Oil circles
comment: Only fraction Saudi oil then
shipped in tankers fulfilling these
conditions. Also, clause means
eventual freezeout since no pro-
vision replacement obsolete tankers).
Approved For Release 2000/08/30 : CIA-RDP80R01443R000200370002-9
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 Approved For R~leap~$/i~~2~~0c~ua1
to those announced monthly--by London
Panel of Tanker Brokers, provided that
they are not less than average rate for
last two years. (Oil circles comment:
Because present depressed rates below
two-year average, Onassis will reap fat
profit.)
II. 94rcMuisites Saudis get from Onassis:
A. School to train fifteen Saudi sailors
per year.
B. Free carriage 50,000 tons of oil per
year from Persian Gulf to Red Sea ports.
C. Royalty of 21 cents a ton on all oil
transported abroad.
D. Minimum 500,000 tons shipping to be
registered under Saudi flag.
III. Agreement to be in force for thirty years,
is renewable. Saudi government will request
ARAMCO implement agreement. If refused,
Saudi government will consult Onassis about
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CONFIIFNTIAL