Red Line Agreement

Red Line Agreement is the name of an agreement that the partners of the Turkish Petroleum Company (TPC) (from 1929 Iraq Petroleum Company ) concluded on July 31, 1928 in Ostend , Belgium . The aim was to form a cartel for joint oil production .

After the Ottoman Empire lost the First World War, the partners discussed the “legacy” of the Ottoman Empire.

It is alleged that Mr. Five Percent , Calouste Gulbenkian spread out a map and marked the 1914 border of the Ottoman Empire with a red pen. It included what is now Turkey, Syria, Jordan, Iraq, Saudi Arabia and Oman; Kuwait was left out.

It was agreed in the Red Line Agreement that the undersigned companies within this area could only look for and produce oil together; acting alone should not be possible.

Web links

wiwi.uni-kl.de (PDF file; 1.65 MB)
http://www.mtholyoke.edu/acad/intrel/Petroleum/redline.htm

Individual evidence

↑ Senate , Committee on Foreign Relations, Subcommittee on Multinational Corporations: Second session on multinational petroleum companies and foreign policy. February 20 and 21, March 27 and 28, 1974 (= Multinational corporations and United States foreign policy: Hearings , Vol. 7). US Government Printing Office, Washington DC 1974, p. 48.

[1] Senate , Committee on Foreign Relations, Subcommittee on Multinational Corporations: Second session on multinational petroleum companies and foreign policy. February 20 and 21, March 27 and 28, 1974 (= Multinational corporations and United States foreign policy: Hearings , Vol. 7). US Government Printing Office, Washington DC 1974, p. 48.