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History, Foreign Agreements

Anglo-Persian Oil Company, oil pipeline, oil fields, oil reserves, Haifa

In 1931 the exploitation of the oil reserves in Iraq was further advanced by an agreement signed by the Iraqi government and the Iraq Petroleum Company, an internationally owned organization composed of Royal-Dutch Shell, the Anglo-Persian Oil Company, French oil companies, and the Standard Oil companies of New York and New Jersey. The agreement granted the Iraq Petroleum Company the sole right to develop the oil fields of the Mosul region, in return for which the company guaranteed to pay the Iraqi government annual royalties. In 1934 the company opened an oil pipeline from Mosul to Tripoli, Lebanon, and a second one to Haifa, in what is now Israel, was completed in 1936.

In 1936 Iraq, under King Ghazi, moved toward a pan-Arab alliance with the other nations of the Arab world. A treaty of nonaggression, reaffirming a fundamental Arab kinship, was signed with the king of Saudi Arabia in the same year.

Article key phrases:

Anglo-Persian Oil Company, oil pipeline, oil fields, oil reserves, Haifa, king of Saudi Arabia, Tripoli, Arab world, exploitation, Iraq, Lebanon, Israel, New Jersey, nations, agreement, year, return


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