Reported Agreement On Oil Dispute In Persia

Press, Volume XC, Issue 27387, 28 June 1954, Page 9

Reported Agreement On Oil Dispute In Persia

(Rec. 10 p.m.) TEHERAN, June 26. A Western oil consortium and a Persian delegation reached broad understanding on the main issues in the British-Iranian oil dispute after a two-hour secret meeting in Teheran today, according to Dr. Ali Amini, a Persian oil expert. “The Western oil representatives are almost certain to accept the Persian proposals to end the deadlock;” he said. “The problem of management is most likely to be settled by a management company registered both in Persia and the Netherlands, and we are pressing tor the majority of the board of directors to be Persians.” Dr. Amini added that everything in the agreement with eight Western oil companies would confirm Persia’s nationalisation laws. A spokesman of the oil consortium refused to comment on the meeting. He said there would be another meeting on Monday. The consortium was formed last March with the aim of reopening Persian oil production and marketing Persian oil. Its member companies are SUs Stmw of

the Persian oil industry—Royal Dutch Shell, Compagnie Francaise des Petrols, Socony Vacuum, the Standard Oil Company of New Jersey, the Standard Oil Company of California, the Gulf Oil Company, and the Texas Company. Previous negotiations between the Anglo-Iranian company alone and the Persian Government broke down on the question of management of the oil industry and because of disagreement ° ver the compensation which the Anglo-Iranian, company demanded from Persia.