This research study is grounded in historic perspective, aimed at scrutinizing the oil agreements that international oil companies, operated in the Arabian Gulf exploited to serve their interests. One of the most important objectives is to reveal the secrecy of the agreements and the parties involved, which serve their monopolistic interests without concern for the rights of those countries and their peoples. The Achnacarry Agreement, signed in Scotland in September 1928, is one of the most significant oil agreements that remained secret for nearly 25 years, earning the title of “the Oil Constitution.” Interestingly, such agreement remained hidden from the public for a quarter of a century. This led to dangerous oil policies under which global oil extraction, production, distribution, marketing, and pricing were monopolized, at the expense of the wealth of nations and their governments. Arguably the Achnacarry Agreement eventually became a cornerstone of oil monopolies for many years ahead, allowing for the expansion of its base by the inclusion of over 15 international companies.
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Spring / Printemps 2025
Research Article|
February 24 2025
The Historical Roots of Oil Price Monopoly and Its Exploration in the Arabian Gulf
Ali Maajal Khalaf;
Ali Maajal Khalaf
Department of History, College of Arts, University of Anbar, Anbar Iraq
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Ali Najah Mohammed Hussein;
Ali Najah Mohammed Hussein
Department of History, College of Education for Humanities, University of Anbar, Anbar Iraq
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Hamid Obaid Jasim;
Hamid Obaid Jasim
Department of History, College of Education for Humanities, University of Anbar, Anbar Iraq
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Abdulsattar Jaeger Abd Khalaf
Abdulsattar Jaeger Abd Khalaf
Department of History, College of Education for Humanities, University of Anbar, Anbar Iraq
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The Arab World Geographer (2025) 28 (1): 78–87.
Citation
Ali Maajal Khalaf, Ali Najah Mohammed Hussein, Hamid Obaid Jasim, Abdulsattar Jaeger Abd Khalaf; The Historical Roots of Oil Price Monopoly and Its Exploration in the Arabian Gulf. The Arab World Geographer 1 February 2025; 28 (1): 78–87. doi: https://doi.org/10.5555/1480-6800-28.1.78
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