1 Jun 1972 Jahr - IPC nationalized

Beschreibung:

The Ba'ath Party decides to nationalize the Iraq Petroleum Company (IPC), a group of Western oil groups which has a monopoly on all oil exploration and production in the country. Previously, a majority of the company's profits were controlled by British, French, and Dutch industries, but its nationalization pushed production value into the hands of Iraq, causing intense struggle between the IPC and Iraqi government.

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