Word: anglo-iranian
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...Without Aramco, Saudi Arabia would revert to a black-tent kingdom of camels, date palms and holy places. But no U.S. adviser has his office in the palace compound (as the British ambassador did in Jordan), no company agent issues authoritative suggestions to Saud's government officials (as Anglo-Iranian did in Iran). The result has been that nowhere else in the world, where such a single foreign interest so dominates a nation's economy, is there less rancor between government and company, between host and paying guest...
Iran (pop. 21,146,000). Like Turkey, a Moslem-but not an Arab-state. Three years ago the country was falling into anarchy after Britain's failure to negotiate a fair Anglo-Iranian oil deal. A weepy Mossadegh (TIME, Jan. 7, 1952) tried to rule from a hospital cot, and Iran was in danger of a Communist coup. That danger is safely past. Iran's Premier is a former ambassador to, and a good friend of, the U.S. The 37-year-old Shah now has firm control of his country, and on a recent trip to Moscow ably...
...State Department career that so far has not been easy. An engineer like his father, and a Middle East oil expert as well, Hoover was swept into his post after a piece of spectacular diplomacy in 1954. Iran and England were at angry odds over revenues from the Anglo-Iranian Oil Co.'s nationalized oilfields. Dulles chose Hoover to find common ground, asked him to find it in 45 days. The 45 days stretched to eleven months; Hoover winged constantly between Washington, London and Teheran, eventually hammered out a settlement acceptable to both nations. Impressed with this performance...
Mohammed Mossadegh, as weird and wondrous a character as ever stole a headline, was swept into office as Iran's Premier in 1951 on a promise to nationalize the sprawling British-owned Anglo-Iranian Oil Co. He accomplished his purpose in a dervishlike vortex of tantrums, sulks, fainting spells, mopes and well-publicized weeping that made even readers of Lil Abner forget Daisy Mae. In doing so, he brought his country to bankruptcy. At one point in his frenzied career, Mossy succeeded in frightening the Shah clean out of his own country...
...when Mohammed Mossadegh nationalized the Anglo-Iranian Oil Com pany, the Western powers, faced with a similar threat, applied economic sanctions...