OIL RIGHTS IN PERSIA
Effect Of Offer By Russia LONDON, Nov. 11. Oil shares today suffered a sharp set-back on reports from Teheran that the Soviet Union had offered an unprecedented profit-sharing arrangement in exchange for oil exploration rights in northern Persia. Losses of around 2s were shown in some leading shares. British Petroleum Company dropped to 51s 10jd in telephone dealings between brokers’ offices after the close of the Stock Exchange. Shortly before the report from Teheran the shares stood at 53s 9d. Shell Transport and Trading fell to 142 s 4Jd after having risen Is 3d durifig the morning to 144 s fid. The Teheran report quoted Informed sources as saying that the Soviet Union had offered a profitsharing arrangement that would give 85 per cent to Persia and 15 per cent to the Soviet Union.
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Press, Volume XCVIII, Issue 29051, 13 November 1959, Page 13
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138OIL RIGHTS IN PERSIA Press, Volume XCVIII, Issue 29051, 13 November 1959, Page 13
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