Red Line Agreement

Red Line Agreement

The Red Line Agreement is the name given to an agreement signed by partners in the Turkish Petroleum Company (TPC) on July 31, 1928. The aim of the agreement was to formalize the corporate structure of TPC and bind all partners to a self-denial clause that prohibited any of its shareholders from independently seeking oil interests in the ex-Ottoman territory. It marked the creation of an oil monopoly, or cartel, of immense influence, spanning a vast territory. The cartel preceded easily by three decades the birth of another cartel, OPEC, which was formed in 1960.

It is said that Calouste Gulbenkian took out a large map, laid it on the table and drew with a thick red pencil an outline demarking the boundaries of the area where the self-denial clause would be in effect. He said that was the boundary of the Ottoman Empire he knew in 1914. He should know, he added, because he was born in it and lived in it. The other partners looked on attentively and did not object. They had already anticipated such a boundary. (According to some accounts, the “red line” was drawn not by Gulbenkian but by the French.) Excepting Gulbenkian, the partners were the supermajors of today. Within the “red line” was included the entire ex-Ottoman territory in the Middle East, including the Arabian Peninsula (plus Turkey) but excluding Kuwait. Kuwait was excluded, as it was meant to be a preserve for the British.

Years later, Walter C. Teagle of Standard Oil of New Jersey remarked that the agreement was “a damn bad move.”


* Demirmen, Ferruh. [ "Oil in Iraq: The Byzantine Beginnings: Part II: The Reign of a Monopoly"] , Global Policy Forum, April 26, 2003.

*Black, Edwin. Banking on Baghdad (John Wiley and Sons, New York 2003) and the only available map and transcription see [] . For a complete minute to minute history of the Red Line Agreement see the referenced book.

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Red Line Agreement — ist der Name eines Abkommens, dass die Partner der Turkish Petroleum Company (TPC) (ab 1929 Iraq Petroleum Company) am 31. Juli 1928 im belgischen Ostende schlossen. Nachdem das Osmanische Reich den Ersten Weltkrieg verloren hatte setzten sich… …   Deutsch Wikipedia

  • Red Line — This page is for things named Red Line. For things named Redline, see Redline (disambiguation). Red Line may refer to: Red line (hockey), denotes the center of the playing surface on an ice hockey rink Red Line Synthetic Oil Corporation, an oil… …   Wikipedia

  • Red Line (Washington Metro) — Infobox rail line name = color box|#WMATA color|Red Red Line image width = 325 caption = The most heavily traveled Metro line as of mid 2005, the Red Line remains full of passengers well into the evening type = Rapid transit system = Washington… …   Wikipedia

  • Red Rover — the game (also known as Bullrush; Forcing the City Gates; Octopus Tag; and British Bulldog) is an outdoor game played primarily by children on playgrounds. Red Rover was very popular into the 1970s.The game starts when the first team (usually the …   Wikipedia

  • Red Kite — Conservation status Near Threatened ( …   Wikipedia

  • Red Clydeside — is a term used to describe the era of political radicalism that characterised the city of Glasgow in Scotland, and urban areas around the city on the banks of the River Clyde such as Clydebank, Greenock and Paisley. The history of Red Clydeside… …   Wikipedia

  • Agreement on the Conservation of Albatrosses and Petrels — The [ Agreement on the Conservation of Albatrosses and Petrels] (ACAP) is a [ Documents/Final agreement Amended%20MoP2 2006 English.pdf legally binding international treaty] signed in 2001. It… …   Wikipedia

  • Red Army invasion of Georgia — Infobox Military Conflict conflict=Red Army invasion of Georgia caption=The Transcaucasus Campaign of 1921. date=1921 place=South Caucasus (Transcaucasus) result=Soviet Turkish victory; establishment of the Georgian SSR combatant1= combatant2=… …   Wikipedia

  • Red River Trails — Métis drivers and ox carts at a rest stop The Red River Trails were a network of ox cart routes connecting the Red River Colony (the Selkirk Settlement ) and Fort Garry in British North America with the head of navigation on the Mississippi River …   Wikipedia

  • Red Wing (Amtrak station) — Infobox Station style=Amtrak name=Red Wing image size= image caption= address=420 Levee Street Red Wing, MN 55066 line=rail color box|system=Amtrak|line=Empire Builder other= platform= parking=Yes; free bicycle= passengers=10,134 pass year=2007… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”