The Oil Industry in the Middle East of the 20th Century
The Middle East is a geographical center for the world oil industry. Oil is very important in foreign and domestic politics in almost every country in the region, oil importers and oil exporters. Therefore the oil industry in the Middle East has a special role in the economic development of the Middle East. Discovery of the First Oil Field in the Middle East The search for oil resources in the Middle East was first carried out by a British businessman named William D'Archy. In 1901, he was granted permission to explore oil in Iran, after offering a contract of 20,000 pounds sterling and 16% of profits for 60 years. Not only that, the company is also free of charge and obtained a large area. After obtaining permission, D'Archy sent George Reynold to explore oil resources. Exploration requires huge costs, so that at one time when he was on the verge of bankruptcy, D'Arcy asked for help from the British government. The government agreed to help him, for fear that he might sell...