SHANA -- Born in 1908, Irans petroleum industry went through ups and downs during the first four decades of its life. Throughout a forty-year period, oil-rich areas had been discovered in southwestern Iran, oil activities had expanded throughout World War I (WWI) and Iran had experienced a new monarchy system. In the wake of the outbreak of WWII,...

On March 19th, 1951, Premier Mohammad Mosaddeq enforced the Oil Nationalization Bill, which ended British hegemony on Iran's oil industry. From 1949 onwards, willing to nationalization of Iran's oil industry increased. In 1949 the Majlis approved the First Development Plan (1948-55), which called for comprehensive agricultural and industrial development ...