Word: qum
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Dates: during 1950-1959
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...ancient Iranian Moslem shrine city of Qum, oilmen gathered from all over the world last week. Their objective was to survey and if possible get a concession on a new oilfield which the Iranian government hopes will surpass the oil output of all the rest of the Middle East...
ITALIAN-IRANIAN OIL pact will make Italy's state-owned ENI company a major operator in Middle East, give it drilling rights in Iran's rich new fields (potential production: 35 million bbl. a year) at Qum. Combine of U.S., British, Dutch and French companies already operating in Iran was refused permission to exploit Qum, fears that terms of deal giving Iran 70% to 75% share of profits will upset traditional fifty-fifty split...