Turkish Petroleum Company

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Refraction troops in Iraq in 1928, on the march for the Turkish Petroleum Company

The Turkish Petroleum Company (TPC) was founded in 1914 under the direction of Calouste Gulbenkian with the aim of obtaining a concession from the Ottoman Empire to produce oil in what is now Iraq .

Owner 1914

The original shares were distributed as follows:

  • Anglo-Persian Oil Company (BP) 50% (The Briton William Knox D'Arcy had received an oil production license from the Persian Shah in 1901 for 60 years and found oil in 1908. When his consortium was almost bankrupt, the British Admiralty stepped in and took over the Anglo -Persian Oil is 51 percent state-owned. This later became British Petroleum .)
  • Anglo-Saxon Petroleum Co. ( Royal Dutch Shell ) 25%
  • Deutsche Bank 25% (When negotiating the financing of the Baghdad Railway , Deutsche Bank had received a concession from the Sultan in 1912, which granted the Baghdad Railway Company as a right of way the concessions on all oil and mineral deposits along a 20 km wide strip on both sides of the Mosul Railway line secured.)
  • Calouste Gulbenkian 5%, Mr. Five Percent

The outbreak of the First World War in 1914 stopped all funding plans.

Owner 1920–1928

After the First World War, Deutsche Bank's stake was taken over by France in April 1920 at the Sanremo Conference (at which the Allies agreed on the division of the Arab provinces of the Ottoman Empire ). This then resulted in the state-owned Compagnie Française de Pétrole (CFP).

Together with the oil wells in Iran, the entire Middle East was under British control.

In July 1928 the Red Line Agreement was signed .

The company's shareholders were in 1928 Anglo-Persian Oil Company (renamed Anglo-Iranian Oil Company (AIOC) in 1935 and BP in 1954), RoyalDutch / Shell , Compagnie française des pétroles (CFP) and Near Est Development Corporation (a consortium of initially five, and finally only two US companies, the Standard Oil Company of New York (Socony) and the Standard Oil Company of New Jersey ( Esso )). Each equity group received 23.75 percent of the Turkish Petroleum Company ; the remaining five percent went to Calouste Gulbenkian .

Iraq Petroleum Company

In 1929 the TPC was renamed the Iraq Petroleum Company .

See also

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