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Unformatted text preview: Burmah Oil Company Ltd. agreed to put up to 100,000 into the venture in return for much of the stock. By April 1908, William DArcy nearly went bankrupt after not finding any oil. But, in May, at 1,180 feet, oil was finally struck. In 1909, the Anglo-Persian Oil Company was founded, and William Knox DArcy became director. Later, this company became British Petroleum. A pipe line was made from the drill site to a refinery at Abadan. William Knox DArcy later became the largest share holder of British Petroleum and the Gold mine. After many attempts, DArcy could not become owner because of Burmahs previous funding....
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- Spring '07