Persian-Canadian Oil Agreement
(N.Z. Press Association—Copy ng M) TEHERAN, June 22. The Prime Minister of Persia (Dr. Manushar Eghbal) announced today a new Persian-Cana-dian private agreement for oil exploration and production under which Persia will get 75 per cent, of the profits. The agreement, which the Prime Minister presented to the Lower Mouse of the Persian Parliament, is between the National Iranian (Persian) Oil Company (N.1.0.C.) and Saphire Petroleums, a Canadian oil company. Dr. Eghbal said that Persia would collect 50 per cent, of the profits made by the Iran-Canada Oil Company, a joint organisation which would be set up under the agreement, and half the rest as a shareholder.
The agreement had been signed on June 16.
It was sent to a special oil committee of the House for study, after which it will be debated in open session.
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Bibliographic details
Press, Volume XCVII, Issue 28620, 24 June 1958, Page 6
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140Persian-Canadian Oil Agreement Press, Volume XCVII, Issue 28620, 24 June 1958, Page 6
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