10 July 2010

As oil continues to leak into the Gulf, Iranians might remember the company's dark history in their country.

British Petroleum, the third largest “supermajor” has its origins in Iran. Over 100 years ago, a colonial concession by an inept and corrupt Iranian despot gave full control of Iran’s oil exploration and production to the British for 60 years. Iran was to receive 16 per cent of the declared profit, but lacked any right to review the books. Soon after, the Anglo-Persian Oil Company (APOC) was established in 1909, later renamed the Anglo-Iranian Oil Company (AIOC) in 1935, and then British Petroleum in 1954.
http://www.themarknews.com/articles/1736-bp-100-years-of-moral-failure

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