Abadan in the National Press During the Oil Nationalisation Movement, 1946-51 | Mattin Biglari — ABADAN RETOLD

by Mattin Biglari Originally Published in ABADAN RETOLD This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. Abadan is and always has been the centre of Iran’s oil industry. Curiously, however, relatively few have examined how, beyond economic effects, this centre of oil has been connected to the centre of politics, Tehran. Yet…

Mending the Lines: Oil, War and Security

  ON LINES AND FENCES: LABOUR, COMMUNITY AND VIOLENCE IN AN OIL CITY Rasmus Christian Elling Published in: Urban Violence in the Middle East     While the Iranian labour movement undoubtedly perceived the Company as nothing but an extension of British imperialism, the Company could also be seen in a more nuanced light: as…

ON LINES AND FENCES: LABOUR, COMMUNITY AND VIOLENCE IN AN OIL CITY

Rasmus Christian Elling Published in: Urban Violence in the Middle East In December 1942, unrest broke out in Abadan, arguably Iran’s first modern industrial city and home to the world’s biggest oil refinery. Two scuffles in the bazaar provoked Iranians from the Ahmadabad neighbourhood to attack Indian labourers in the ‘Indian Lines’ of the Bahmashir[1]…

Tribes, Workers and Unrest in the Oil City

  War of Clubs: Struggle for Space in Abadan and the 1946 Oil Strike Rasmus Christian Elling, University of Copenhagen Published in: Violence and the City in the Modern Middle East   By the 1910s, a modus vivendi had been established between the Company and Sheikh Khaz’al. The former lent the latter recognition, external protection,…

Securing Output: Abadan under the Company’s Aegis

War of Clubs: Struggle for Space in Abadan and the 1946 Oil Strike Rasmus Christian Elling, University of Copenhagen Published in: Violence and the City in the Modern Middle East   Abadan’s modern history is inextricably tied to that of the Anglo-Persian— later Anglo-Iranian—Oil Company (henceforth, “the Company”). When oil was struck in Iran in…

Hypotheses Testing and Historical Analysis

Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951 Chapter 5: The AIOC’s Stock Market reaction to nationalisation: Event Analysis and empirical results AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK This section proposes three related and alternative hypotheses to be examined using a data set of historical quantitative variables. The…

Market Adjusted Model

Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951 Chapter 5: The AIOC’s Stock Market reaction to nationalisation: Event Analysis and empirical results AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK There are three different models used in event study literature to estimate ex ante expected returns[689]. These are Mean Adjusted…

Market Efficiency and Data

Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951 Chapter 5: The AIOC’s Stock Market reaction to nationalisation: Event Analysis and empirical results AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK As previously mentioned, the event should be unanticipated and the magnitude of abnormal performance is consistent with market efficiency since…

The AIOC’s Stock Market reaction to nationalisation: Event Analysis and empirical results

Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951 Chapter 5: The AIOC’s Stock Market reaction to nationalisation: Event Analysis and empirical results AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK Introduction This chapter examines the AIOC‟s stock market reaction to nationalisation. As previously discussed in Chapter 2, the AIOC operated…

Response of Fraser to Iranian accusations: Empirical Evidence

From “Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951” Chapter 4: Profit distribution by the AIOC AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK  Fraser was aware that the existing concession gave advantage to the AIOC. He therefore stressed that the company should not request the amendment of the…

Company’s shares

From “Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951” Chapter 4: Profit distribution by the AIOC AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK The Memorandum invoked the Iranian government‟s desire to convert Iran‟s participation in the company‟s reserves into the form of shares of the company, as in the…

The price of oil products and Period of the concession

From “Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951” Chapter 4: Profit distribution by the AIOC AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK In view of the importance of cheap fuel in the economic life of Iran, it was necessary that the sale price of petrol in Persia should…

The financial inspection of the companys books

From “Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951” Chapter 4: Profit distribution by the AIOC AUTHOR : NEVEEN ABDELREHIM | THE UNIVERSITY OF YORK Ferrier has pointed out that, as part of Persia‟s dividend was based on 20% of the company‟s profits, the Iranian government must certainly be aware of…

Dividends and Subsidiaries (Establishments outside Iran)

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 4: Profit distribution by the AIOC Author : Neveen Abdelrehim | The university of york Dividends were restricted as a result of post war limitations imposed on British companies by the British Government and the AIOC “could not as one of…

Royalties

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 4: Profit distribution by the AIOC Author : Neveen Abdelrehim | The university of york Royalties were paid by the AIOC to Iran in return for taking away minerals from their exhaustible natural deposits, and they should reflect either a proportion…

Company’s Reserves and Profits

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 4: Profit distribution by the AIOC Author : Neveen Abdelrehim | The university of york Since the 1933 concession, the Iranians had found it difficult to arrive at an assessment for the division of profits[525]. As mentioned earlier in the chapter,…

Taxes and Immunities

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 4: Profit distribution by the AIOC Author : Neveen Abdelrehim | The university of york Iranians were willing to see the payment terms improved because they were dissatisfied with the massive amount of tax paid to the British government[516]. The Memorandum…

Iranian Claims and AIOC Counter claims: Empirical Evidence

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 4: Profit distribution by the AIOC Author : Neveen Abdelrehim | The university of york The 1933 concession and the Supplemental Agreement had a number of key points which proved controversial and resulted in the issuance of Gidel‟s Memorandum. The Memorandum…

The 1933 concession: Claims and Counter Claims

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 4: Profit distribution by the AIOC Author : Neveen Abdelrehim | The university of york In the light of the literature reviewed in chapter 2, the question of distribution of oil income continued to be a major source of rising conflict…

Review of empirical evidence

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : Neveen Abdelrehim | The university of york The above discussion has re-considered the claims and counter claims of the AIOC and Iranian representatives in the light of Fraser‟s public and private correspondence. Historical evidence…

The Public and Private position of the AIOC senior management

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : Neveen Abdelrehim | The university of york Part of Fraser‟s strategy was to use financial reporting as a means of communication to maintain employee confidence. In view of nationalisation and the associated uncertainties from…

Medical Treatment

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : NEVEEN Abdelrehim | The university of york The discrimination against Iranians resulted in a mix of different groups including nationality, class and employment status. The total number of hospital beds provided by the AIOC…

Wages

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : Neveen Abdelrehim | The university of YORK The level of wages paid in the oil industry was considered more favourable than in other sectors with regard to unskilled labour[432]. Working conditions and training given…

Housing

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : NEVEEN Abdelrehim | The university of york Since 1933, the company was only concerned to provide houses and amenities to British staff and Iranians married to British citizens[406]. The company was keen on providing…

«Iranian» claims for discrimination within the AIOC: Empirical evidence

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : Neveen  Abdelrehim | The university of york The nationalisation crisis brought the topic of discrimination into sharp focus and it became the subject of claim and counter-claim from the company‟s board and Iranian nationalist…

Negotiating Iranianisation and Article (16)

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : Neveen  Abdelrehim | The university of york The Iranian government argued that the employment of foreigners entailed heavy costs of expatriation, travel, relocation not incurred by Iranians. The aim was therefore to reduce the…

Iranianisation: Claims, Counter Claims and Article 16

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 3: Employee relations and Iranianisation Author : Neveen  Abdelrehim | The university of york With the 1933 agreement, there were new employment rules specified to the recruitment of the artisans, technical and commercial staff from iranian nationals. The AIOC, aware of…

Coup in 1953 and NIOC

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK The years preceding nationalisation witnessed a series of failed proposals on the one hand, and a succession of Iranian governments and institutional changes on the other,…

Undermining Mossadegh

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK After the failure of the Stokes mission, British policy made it abundantly clear that their desire was to get rid of Iran‟s popular, nationalist government under…

The Stokes mission

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK   Britain was concerned that Iran might use its oil as a political weapon in order to claim a share in the company‟s worldwide profits under…

Senior Management (Fraser)

  From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK   As mentioned earlier in this chapter, the AIOC had no clear founder-chairmen or founding family because William Knox D‟Arcy financed the exploration in Persia…

Mossadegh’s motivations for nationalisation

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK   After the Second World War, oil played an important role in world economics and Iranian people wanted the AIOC to adopt the same attitude to…

Nationalisation in 1951

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK As mentioned earlier, the problem between the Iranian government and the AIOC mainly arose in 1931 because of the decline in prices and again in 1948…

1947 negotiations and the Supplemental Agreement

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK Attempts to resolve the disagreements between the Iranian government and the company failed and the company was renamed the Anglo Iranian Oil Company (AIOC). The Iranian…

1933 Agreement

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK The 1933 Concessionary Agreement defined several rights and obligations for the AIOC and the Iranian government, to guarantee the continuation of the company‟s operations. The concession…

The establishment of the AIOC, importance of oil

From «Oil Nationalisation and Managerial Disclosure: The Case of Anglo-Iranian Oil Company, 1933-1951» Chapter 2: AIOC History, oil and Iranian politics. AUTHOR: NEVEEN  ABDELREHIM | THE UNIVERSITY OF YORK The establishment of the AIOC The literature on the AIOC emanates from a number of very different sources[98]. In the post war years, the development of…