... 49). Establishment of the TPC did not, however, eliminate the rivalry among the shareholders representing various national interests, such as those of Great Britain. After World War I, Iraq became a British mandate in 1920 yet that did not guarantee the TPC an exclusive concession. After lengthy negotiations, a concession was finally granted in 1925. In fact, numerous amounts of oil were discovered ... the state-owned Iraq Nation Oil Company (INOC). Economically, Iraq remained stable with oil booms throughout the 1960's and 1970's. However, there was a period of political instability, w...

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• Approx Pages: 7
• Has Bibliography
• Grade Level: High School