William Knox D'Arcy

William Knox D'Arcy - Burmah Oil Company Ltd agreed to put...

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Brent Mansingh Fred Thurber September 9, 2007 William Knox D’Arcy and His Relevance to the Oil Industry William Knox D’Arcy was born in 1849, found his initial calling in law and joined his father’s business. William came under control of a gold mine owning 125,000 shares in his own name and 233,000 in trust funds. In 1900, William Knox D’Arcy agreed to fund a search for oil and minerals in Persia. Negotiations began in 1901 with the Shah and with a large sum from D’Arcy, allowed a 60 year exploration covering 480,000 nautical miles. In 1904, after finding nothing, false hopes arose, and D’Arcy had to find additional funds. The
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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 D’Arcy 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 D’Arcy became director. Later, this company became British Petroleum. A pipe line was made from the drill site to a refinery at Abadan. William Knox D’Arcy later became the largest share holder of British Petroleum and the Gold mine. After many attempts, D’Arcy could not become owner because of Burmah’s previous funding....
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This note was uploaded on 04/07/2008 for the course PETE 2001 taught by Professor Thurber during the Spring '07 term at LSU.

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William Knox D'Arcy - Burmah Oil Company Ltd agreed to put...

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