San Remo Oil Agreement facts for kids
The San Remo Oil Agreement was an important deal made between Britain and France on April 24, 1920. This agreement happened during the San Remo conference in Italy. It was all about sharing control of oil, especially in the Middle East, after World War I.
As a result of this agreement, a French company called Compagnie Française de Petroles (CFP) gained a 25% share in the Turkish Petroleum Company (TPC). The other companies that owned parts of TPC were the Anglo-Persian Oil Company (APOC) with 47.5%, the Anglo Saxon Petroleum Co with 22.5%, and a businessman named Calouste Gulbenkian with the remaining 5%.
Why Was This Agreement Made?
Before World War I, in 1914, Britain and Germany had an agreement about the Turkish Petroleum Company. A British company, APOC, took over some shares in TPC. TPC then wanted to get rights to drill for oil in a region called Mesopotamia (which is now mostly Iraq). But then, World War I started, and everything changed.
During the war, Britain took over the 25% share that a German bank, Deutsche Bank, had in TPC. After the war, Britain and France needed to decide who would get this share. This 25% share was eventually given to France as part of the San Remo Oil Agreement.
There were a few tries to make this agreement before it was finally signed. Different versions were discussed by British and French officials, like Sir Walter Long and Henri Bérenger, who were in charge of petroleum for their countries.
What Did the Agreement Cover?
The San Remo Oil Agreement helped decide how oil interests would be divided in different parts of the world. This included oil in countries like Russia and Romania. It also covered oil in areas that were becoming British or French colonies after the war, such as the British Mandate of Mesopotamia. This agreement was a big step in shaping who controlled the world's oil supplies in the years that followed.
See also
- Partitioning of the Ottoman Empire
