History, Oil Accords and Elections
parliamentary elections, King Faisal, government of Iraq, accords, Syria
Royalties paid to the government of Iraq by the Iraq Petroleum Company increased substantially under accords reached in 1950 and 1951. By the terms of an even more advantageous arrangement, concluded in February 1952, Iraq obtained 50 percent of the profits. In 1953 the 911-km (566-mi) Kirkuk-Baniyas (Syria) pipeline of the Iraq Petroleum Company was formally opened.
The first parliamentary elections based on direct suffrage took place on January 17, 1953. A pro-Western, pan-Arab government was formed. King Faisal II formally assumed the throne on May 2, 1953, his 18th birthday.
Article key phrases: