Penelope
Diamond Member
- Jul 15, 2014
- 60,265
- 15,791
- 2,210
reading about the 73 and 79 gas crisis and the Oil Embargo of 73, and well its funny that the 25 year mark was 1979 and a coup was done in Iran (54+25=79. The embargo was in retaliation for the US giving weapons to Israel , if one reads up on it, the US was not happy with the Shah, and also to think he died a year later. Khomeini
was name man of the year in Time. He flew in from Paris with a warm welcomed, so its said.
All IOP members acknowledged that NIOC owned the oil and facilities in Iran, and IOP's role was to operate and manage on behalf of NIOC. To facilitate that, IOP established two operating entities incorporated in Netherlands, and both were delegated to NIOC.[18][19] Similar to the Saudi-Aramco "50/50" agreement of 1950,[20] the consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors".[21] The negotiations leading to the creation of the consortium, during 1954-55, was considered as a feat of skillful diplomacy.[10]
In Iran, IOP continued to operate until the Islamic Revolution in 1979. The new regime of Ayatollah Khomeini confiscated all of the company’s assets in Iran. According to the company's Web site: The victory of the Islamic revolution annulled the Consortium Agreement of 1954 and all regulations pertaining to it. The taking of power by the Islamic Republic led to the withdrawal of foreign employees from Iran's oil industry; domestic employees took full control of its affairs.[22]
National Iranian Oil Company - Wikipedia, the free encyclopedia
https://upload.wikimedia.org/wikipedia/commons/0/03/Consortium.pdf
(Gulf and such companies, their successors, and assignees being collectively referred to as the consortium) and the Government of Iran and NIOC entered into an agreement (hereinafter referred to as the 1954 agreement). The stated purpose of the 1954 agreement was to provide for effective marketing of Iranian crude oil, natural gas, and refined petroleum products by use of the consortium's capital, and management and technical skills.
The term of *118118 the 1954 agreement was 25 years, with a right by the consortium to renew the agreement for three additional 5-year periods.
https://casetext.com/case/gulf-oil-corp-v-commissioner-of-internal-revenue-3
The Shah was getting too powerful and he said he would not renew the 54 agreement in 73 which was set to expire in 79, (I will find the link, but lost it) and well you can read on your own how upset the US was with him.
Also read about Gulf Oil corp.
Anyone who sat in gas lines remember all to well what a nightmare it was , they say the Oil Embargo was due to supplying weapons to Israel for the Israel Arab war of 73.
Also reading up on it SA was not happy with how powerful Iran was becoming, the Shah had begun nuclear power and also the country was more progressive. After reading about the White Revolution in Iran one couldn't help but wonder why the people were not happy in Iran, of course the very religious zealots would not be.
was name man of the year in Time. He flew in from Paris with a warm welcomed, so its said.
All IOP members acknowledged that NIOC owned the oil and facilities in Iran, and IOP's role was to operate and manage on behalf of NIOC. To facilitate that, IOP established two operating entities incorporated in Netherlands, and both were delegated to NIOC.[18][19] Similar to the Saudi-Aramco "50/50" agreement of 1950,[20] the consortium agreed to share profits on a 50–50 basis with Iran, "but not to open its books to Iranian auditors or to allow Iranians onto its board of directors".[21] The negotiations leading to the creation of the consortium, during 1954-55, was considered as a feat of skillful diplomacy.[10]
In Iran, IOP continued to operate until the Islamic Revolution in 1979. The new regime of Ayatollah Khomeini confiscated all of the company’s assets in Iran. According to the company's Web site: The victory of the Islamic revolution annulled the Consortium Agreement of 1954 and all regulations pertaining to it. The taking of power by the Islamic Republic led to the withdrawal of foreign employees from Iran's oil industry; domestic employees took full control of its affairs.[22]
National Iranian Oil Company - Wikipedia, the free encyclopedia
https://upload.wikimedia.org/wikipedia/commons/0/03/Consortium.pdf
(Gulf and such companies, their successors, and assignees being collectively referred to as the consortium) and the Government of Iran and NIOC entered into an agreement (hereinafter referred to as the 1954 agreement). The stated purpose of the 1954 agreement was to provide for effective marketing of Iranian crude oil, natural gas, and refined petroleum products by use of the consortium's capital, and management and technical skills.
The term of *118118 the 1954 agreement was 25 years, with a right by the consortium to renew the agreement for three additional 5-year periods.
https://casetext.com/case/gulf-oil-corp-v-commissioner-of-internal-revenue-3
The Shah was getting too powerful and he said he would not renew the 54 agreement in 73 which was set to expire in 79, (I will find the link, but lost it) and well you can read on your own how upset the US was with him.
Also read about Gulf Oil corp.
Anyone who sat in gas lines remember all to well what a nightmare it was , they say the Oil Embargo was due to supplying weapons to Israel for the Israel Arab war of 73.
Also reading up on it SA was not happy with how powerful Iran was becoming, the Shah had begun nuclear power and also the country was more progressive. After reading about the White Revolution in Iran one couldn't help but wonder why the people were not happy in Iran, of course the very religious zealots would not be.
Last edited: