What does AIOC mean in COMPANIES & FIRMS

The Anglo Iranian Oil Company (AIOC) is a former British oil company which was active in Iran, or formerly known as Persia, from 1924 through to 1954. AIOC was one of the world's leading oil companies and represented British interests in the Middle East for 40 years.

The Anglo-Iranian Oil Company (AIOC) was founded in 1909 and it was initially owned by William D'Arcy and the British Government. In 1914, with D'Arcy having been compensated for his earlier losses, all of AIOC’s shares were bought by the British Government.

The Anglo Iranian Oil Company operated in Iran from 1924 through to 1954 when it became a state-owned enterprise known as National Iranian Oil Corporation (NIOC).

At its peak, the company had more than 17,000 employees working in various departments including exploration and production operations, refining, marketing and distribution services. As well as these activities, AIOC also ran transportation and drilling services.

Yes, there was an agreement signed between Britain and Iran on March 20th 1933 with regard to AIOC's operations in Iran. This agreement became known as the "1933 Agreement" or "Iranian Consortium Agreement". It lasted until 1951 when it was suspended by Mohammad Mosaddegh upon nationalization of the company's assets.

Yes, after 1951 foreign participation increased significantly with major companies such as Shell taking part in joint venture agreements with the NIOC. There were also some limited foreign investments such as by American businesses that began during this period.

In 1951 Prime Minister Mohammad Mosaddegh initiated a campaign to nationalize AIOC which resulted in considerable tension between Iran and Britain leading up to 1953 whereupon Mossadegh organized a referendum approving its nationalization leading to its later rebranding as NIOC (National Iranian Oil Corporation).

With nationalist movements on the rise within Iran culminating in Prime Minister Mosaddegh’s campaign for nationalization of