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...Khan of Afghanistan boiled an opposing general and all his staff (TIME, Sept. 2, 1929) was castor oil, a primitive product of the country. Mineral oil is too rare in Afghanistan to be used as an ointment of royal justice. Last week in Berlin, how ever, handsome Foreign Minister Faiz Mohammed Khan signed an agreement which may eventually make pastoral, wild Afghanistan one of the major oil producing regions of the East. To Inland Exploration Co., controlled by Seaboard Oil of Delaware, Faiz granted exploration rights for 75 years to every foot of Afghanistan's 270,000 square miles...

Author: /time Magazine | Title: Business: Afghan Oil | 1/11/1937 | See Source »

Significant in the agreement signed last week by Messrs. Hart & Clapp and Faiz Mohammed Khan was a proviso that the concession company must be entirely American. U. S. engineers have been well regarded in the East ever since they helped complete Iraq Petroleum's 1,200 mi. pipe line across Iraq and Syria to the Mediterranean in 1935. More important than that, and perhaps most important for the concession to Seaboard, is the fact that Afghans are still skittish about British interference. European-minded King Amanullah was chased out in 1929 partly because he tried to force pants...

Author: /time Magazine | Title: Business: Afghan Oil | 1/11/1937 | See Source »

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