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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 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 ...
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]
The oil concession gave D'Arcy the exclusive rights to prospect for oil in Persia (now Iran). [1] During this exploration for oil, D'Arcy and his team encountered financial troubles and struggled to find sellable amounts of oil. Facing high costs, they were about to give up but eventually struck large commercial quantities of oil in 1908.
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.
It was the first oil field discovered in the Middle East. The field is a mature super-giant, which produces primarily from the prolific Oligocene Asmari horizons, a formation which underpins Iranian crude oil production. The National Iranian South Oil Company operates the field, as well as a number of other fields in the surrounding regions. [3]
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]
The United Kingdom v Iran [1952] ICJ 2 (also known as the Anglo-Iranian Oil Co. case) was a public international law dispute between the UK and Iran.This case concerned the nationalization of Iran's oil which had been, in large part, controlled by the United Kingdom since the early 20th century.