1973 oil crisis - Iraq nationalizes Iraq Petroleum Company's (IPC) concession
Time: Thursday Jun 1, 1972
Place: Iraq
Details: Iraq nationalizes Iraq Petroleum Company's (IPC) concession owned by British Petroleum, Royal Dutch-Shell, Compagnie Francaise des Petroles, Mobil, and Standard Oil of New Jersey (now Exxon). The concessions were valued at over one billion dollars.
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