How the 10 Largest Oil Companies Were Born

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big oil




Source: Visual Capitalist

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  1. jbegan commented on Dec 13

    The company I find most interesting is BP, which most probably has contributed most to our issues in the Middle East :

    In May 1908 a group of British geologists discovered a large amount of oil at Masjid-i-Suleiman in Iran. It was the first commercially significant find of oil in the Middle East. The Shah of Iran granted a concession to William Knox D’Arcy to enable the British to drill for Iran’s oil. On 14 April 1909, the Anglo-Persian Oil Company (APOC) was incorporated as a subsidiary of Burmah Oil Company.

    In 1935, Rezā Shāh requested the international community to refer to Persia as ‘Iran’, which was reflected in the name change of APOC to the Anglo-Iranian Oil Company (AIOC)

    In 1954, the AIOC became the British Petroleum Company. After the 1953 Iranian coup d’état, Iranian Oil Participants Ltd (IOP), a holding company, was founded in October 1954 in London to bring Iranian oil back to the international market.

    The US during all this maneuvering, basically gave Britain our blessing to do whatever they needed to pump oil ….and the rest is history. Wonder why ISIS terrorists aren’t bombing BP filling stations BTW.

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