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....
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