Word: anglo-iranian
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last week threw down the boldest chal lenge to Western oilmen since Iran's Mohammed Mossadegh expropriated the Anglo-Iranian Oil Co. in 1951. Kassem's move : the establishment of a government-owned company to produce and market Iraqi...
...reported 1959 sales of $1.8 billion, up 9% from last year.) After Deterding set up his U.S. plants, he made a shrewd peace treaty with Jersey Standard. Anxious to consolidate his gains and disturbed by the worldwide price wars of the 20s, he persuaded Jersey and British Petroleum (then Anglo-Iranian Oil) to join him in the famous "AsIs" cartel agreement that carved out worldwide markets and quotas. Before he retired in 1937, he had built Royal Dutch/Shell into a billion-dollar business...
...capital-exporting countries preferably invest in areas where they find preconditions legally and psychologically favorable . . . Examples of violations of private foreign rights, both in highly developed and less developed countries, are known to us all. Among the more recent are the methods applied in nationalizing properties of the Anglo-Iranian Oil Co., in expropriating the United Fruit Co. properties by Guatemala, and finally in expropriating the Suez Canal." Abs also cited instances of indirect interferences with the rights of private foreign capital. Among them: the withholding of essential raw materials, the refusal of import licenses and excessive taxation...
...month ago the biggest of Farben's successors, Farbenfabriken Bayer of Le-verkusen. announced one of its most am bitious projects. With Anglo-Iranian Oil Co.'s German subsidiary, Bayer will build a $60 million plant near Cologne to crack 2,100,000 bbl. of oil a year into basic chemicals for plastics and synthetic fabrics. This will vastly expand Bayer's production of 13,000 different chemicals, dyes, drugs, resins and photographic products (Agfa), which last year rang up $380 million in sales...
...semi-peaceful situation is established, there is no reason why the foreign pilots who left in October should not return. Egypt was operating the canal acceptably in October and their unexpected success might have been a factor in the Anglo-French attack, as Britain and France were probably expecting Nasser to fail as Mossadegh did with the nationalization of Anglo-Iranian...