Getting On Without Iranian Oil
AIOC’s 42nd Annual Meeting: December 20, 1951

Arash Norouzi
The Mossadegh Project | August 10, 2022                    

The Anglo-Iranian Oil Company ran this summary of their annual meeting as a paid advertisement in international newspapers and trade journals around mid January 1952.

AIOC’s ability to withstand the difficulties presented by the oil dispute in Iran, commented one senior director, was a tribute to their highly efficient business management.

Anglo-Iranian Oil Company (AIOC/BP) | Archive



The forty-second annual general meeting of The Anglo-Iranian Oil Company Limited was held on December 20th at the Chartered Insurance Institute, 20 Aldermanbury, London, England.

Sir William Fraser, C.B.E., LL.D. (Chairman and Managing Director) presided.

The Secretary (Mr. T. MacDonald) read the notice convening the meeting and the auditors’ report.

The Chairman said: Ladies and gentlemen, the directors’ report and accounts and my statement to stockholders have been in your hands for some time and I presume that, following the usual procedure you will allow me to take them as read. (Agreed).

The Chairman then moved the adoption of the report and accounts for the year ended 31st December, 1950.

The Viscount Alanbrooke K.G., G.C.B., O.M., D.S.O., seconded the resolution which was carried unanimously, after stockholders’ questions had been answered by the Chairman. [Lord Alan Brooke, also an MP]

The retiring directors, Sir Hubert Heath Eves, Mr. D. Abel Smith, M.C., and Mr. W. J. Keswick, were re-elected and a resolution was passed for the remuneration of the auditors, Messrs. Brown, Fleming, and Murray, to be arranged by the Board.

Mr. G. H. Whigham [Gilbert Whigham] proposed a vote of thanks to Sir William Fraser, the Board, and the Company’s staff, and said it had been an unusually long time since the last meeting, and during that time unusual events had effected the Company. What these must have entailed in stress and strain on the Chairman and his colleagues on the Board would be appreciated, especially by those who had practical experience of the direction of large business concerns. The dispute with Persia had checked the Company’s progress when the volume and variety of its business had reached new heights, and it was well set for still further advancement. That the check had been so well withstood, and that the Company’s progress would continue, as it so obviously would, irrespective of how the Persian dispute were solved, was the solidest testimony of the Board’s successful direction of the Company’s affairs. They all hoped for a satisfactory solution of the Persian dispute, and wished the Board well in its continued efforts in that direction. He proposed a vote of thanks to the Chairman, his colleagues on the Board, and the Company’s staff, confident in the future of this great concern in their able and vigorous hands.

After a brief acknowledgment by the Chairman, the proceedings terminated.

Divvying Up the Loot: The Iran Oil Consortium Agreement of 1954
Divvying Up the Loot: The Iran Oil Consortium Agreement of 1954


Related links:

AIOC: Increased Supplies From Other Sources Offset Iranian Cessation (June 1952)

Foreign Affairs (Middle East) | House of Commons Debate, July 30, 1951

Anglo-Iranian Oil Company’s Name Changed to British Petroleum Co., Ltd. (BP) | Dec. 1954

MOSSADEGH t-shirts — “If I sit silently, I have sinned”

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