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Iran's oil industry began in 1901, when British speculator William D'Arcy received a concession from Iran to explore and develop southern Iran's oil resources. The exploration in Iran was led by George Reynolds. The discovery of oil on May 26, 1908 [13] led to the formation in 1909 of the London-based Anglo-Persian Oil Company (APOC). By ...
The Abadan Crisis was a major event in the history and development of modern Iran. The crisis began in 1951 after the Iranian government, under the democratically elected Prime Minister, Mohammad Mosaddegh nationalized the British owned Anglo-Persian Oil Company, including the Abadan Refinery.
The AIOC was the United Kingdom's "single largest overseas asset" and a "source of national pride" in the British post-war era of Clement Attlee and Ernest Bevin.Even as late as the "1940s and early 1950s some high British officials still believed that Persian petroleum was actually and rightly British petroleum because it had been discovered by the British, developed by British capital, and ...
The Anglo-Persian Oil Company (APOC; Persian: شرکت نفت ایران و انگلیس) was a British company founded in 1909 following the discovery of a large oil field in Masjed Soleiman, Persia . The British government purchased 51% of the company in 1914, [1] gaining a controlling number of shares, effectively nationalizing the company.
Iran suffered invasions by nomadic tribes during the Late Middle Ages and early modern period, negatively impacting the region. [17] Iran was reunified as an independent state in 1501 by the Safavid dynasty, which established Shia Islam as the empire's official religion, [18] marking a significant turning point in the history of Islam. [19]
[5] [page needed] Although Reza Shah declared neutrality at an early stage of World War II, Iran assumed greater strategic importance to the British government, which feared that the Abadan Refinery (of the UK-owned Anglo-Iranian Oil Company) might fall into German hands; refining eight million tons of oil in 1940, the refinery made a crucial ...
Oil field in California, 1938. The modern history of petroleum began in the nineteenth century with the refining of paraffin from crude oil. The Scottish chemist James Young in 1847 noticed a natural petroleum seepage in the Riddings colliery at Alfreton, Derbyshire from which he distilled a light thin oil suitable for use as lamp oil, at the same time obtaining a thicker oil suitable for ...
The nationalization of the Iranian oil industry (Persian: نهضت ملی شدن صنعت نفت ایران) resulted from a movement in the Iranian parliament (Majlis) to seize control of Iran's oil industry, which had been run by private companies, largely controlled by foreign interests. The legislation was passed on March 15, 1951, and was ...