OIL & GAS: Anglo-Iranian Reports

OIL & GAS

Anglo-Iranian Oil Co. had some bad news for Iran. Last week in his annual report for 1950, Anglo-Iranian Board Chairman Sir William Fraser disclosed that the company has already made up from other sources two-thirds of the oil lost when its property in Iran was nationalized. The squeeze on world oil supplies, which had been a strong bargaining point for Iran, was fast ending. Production has been stepped up in fields in which Anglo-Iranian has an interest in Kuwait, Qatar and Iraq.

In Kuwait alone, where Anglo-Iranian splits production with Gulf Oil Corp., output is close to 800,000 bbls....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!