Word: anglo-iranian
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...Matter of Terms. Both the Iranians and the British wanted to negotiate, but on different terms. The British wanted to send a government delegation, obviously intending to dicker over Iran's legal right to nationalize the oil fields. The Iranian government wanted to talk only to Anglo-Iranian company officials and only about how the company could help the Iranians take over. Mossadeq's government issued a virtual ultimatum to the British officials, asking them to help the Iranians and get ready to do it within five days...
...Principle. Mossadeq read Truman's message before a closed session of the Iranian Senate. "The British," the Premier complained, "agree only to some form of nationalization. How can we consider the question solved?" Mossadeq's position was still that Britain must unconditionally accept the principle of Anglo-Iranian's nationalization. "We have burned all bridges behind us," cried Hussein Makki, secretary of the commission to take over the oilfields. "Either we shall reach our goal ... or we shall be destroyed, and the world with...
Just when it looked as if no common ground could be found, Anglo-Iranian agreed to send representatives to Teheran for "full and frank discussions." Firebrand Makki cooled off a few degrees, called Anglo-Iranian's gesture "satisfactory." The government was reported ready to postpone the actual take-over of Anglo-Iranian, pending the talks...
Importance. The Anglo-Iranian Oil Co., Ltd. in 1950 was the largest oil-producing company in the world. Its wells spouted 700,000 barrels of oil a day, or more than a third of the total Middle East production, 10% of world production. Its refinery at Abadan, with a capacity of 500,000 barrels a day, is the world's largest. (All of Texas produces 2,000,000 barrels daily; Russia and her satellites...
Know-How. Will Iran be able to run Anglo-Iranian? No more than 30 of the company's 300 top senior officials are Iranians, and most of these are administrative rather than technical men. The Iranians may, at the most, be able to keep the existing wells going, but they do not have the technical knowledge to open new ones; they would be able to maintain only patchwork efficiency at the Abadan refinery, which includes an intricate catalytic cracking plant set up for the British by U.S. engineers. Nor does Teheran have the worldwide sales organization and millions...