Iran, Anglo Iranian Oil Co. Ltd., (Renamed British Petroleum in 1954)

Iran and United Kingdom. Anglo Iranian Oil Co. Ltd., ND (ca.1935-54) Issued Scrip Note, 25 Dinars, P-Unlisted, Black printing on light turquoise paper, blank back, PMG graded Choice About Unc. 58. The Anglo-Iranian Oil Company (formerly the Anglo-Persian Oil Company and currently BP) had been drilling for oil in Iran since 1913. In 1908, a British venture capitalist discovered oil in southern Iran. Throughout the early 20th century, the ruling Pahlavi government made various concessions with the British that gave the UK control over certain elements in the Iranian economy. In 1951, Iran began the nationalization of their oil industry. On 26 May 1951, the UK took Iran to the ICJ, demanding that the 1933 agreement be upheld and that Iran pay damages and compensation for disrupting the UK-incorporated company's profits. Iran ignored the ruling. Despite the outcome of the case, the British government was determined to both reclaim control of Iran's oil fields and signal to other

Estimate:$450

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