Iran marks 62nd anniversary of nationalization of its oil

Iran celebrates the 62nd anniversary of the nationalization of its oil industry on March 20th. On this day in 1951, members of the Iranian parliament ratified a bill introduced by then Prime Minister, Mohammad Mossaddeq on the nationalization of the oil industry. Mossadeq had the support of his nationalist party and religious groups led by prominent cleric, Ayatollah Abdolqasem Mostafavi Kashani.

But President Mahmoud Ahmadinejad believes that more work needs to be done for Iran’s oil industry to become completely nationalized.

Managing director of the National Iranian Oil Refining & Distribution Company, Alireza Zeiqami says that Iran exports a wide range of petrochemical products and has made great achievements in its oil industry despite unilateral sanctions imposed by the West.

Experts say the British government derived more revenue from taxing the concessionaire– the Anglo-Iranian Oil Company, what is today known as British Petroleum– or BP, than the Iranian government derived from royalties.

By Press TV


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