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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 purchasing a majority of the company's shares in 1914, the British government gained direct control of the Iranian oil industry, which it would not relinquish for 37 ...
The Abadan Crisis was a major event in Iranian history. It began when the British Government invited themselves to the Middle East to look for oil, a resource that could not be found in their own land. Oil was discovered in commercial quantities in the southwest of Iran in May 1908.
The Anglo-Persian Oil Company continued its large Persian operations although it changed its name to the AIOC in 1935. In spite of diversification the AIOC still relied heavily on its Iranian oil fields for three-quarters of its supplies, and controlled all oil in Iran. [citation needed]
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The competition to gain more control of the Iranian oil industry increased during World War II when the United Kingdom, the Soviet Union and the United States all became involved in Iranian affairs. When faced with demands from the oil companies of these three countries, the Iranian government announced that the issue would be decided after the ...
George Bernard Reynolds (5 April 1853 - 23 February 1925) [1] was a British geologist and oil industry executive who played a significant role in the development of Iran's oil industry in 1908 as well as Venezuela in 1922. [1]
The Anglo-Persian Oil Company’s business practice that had by far the most influence on the 1932–33 cancellation and renegotiation was the way the company calculated its profits on which the royalty payments to Iran were based on. [26] The D’Arcy Oil Concession stated that the Anglo-Iranian Oil Company was supposed to pay Iran an annual ...
Rapid growth at the time of World War I declined soon after the start of World War II. Recovery began in 1943 with the reopening of supply routes to the United Kingdom. The oil was produced by what became the Anglo-Iranian Oil Company, but political difficulties arose with the Iranian government in the postwar period. [12]