In England, William D’Arcy was close to despair. He had gambled his considerable fortune on oil, and now he was on the edge of losing it all .It seemed that the geologists and experts who had wagged their heads encouragingly at him since 1901 had all been wrong about the oil beneath the sands of Persia.
Having never set foot in Persia himself, Mr. D’Arcy didn’t even have adventure travel stories to show for his investment. What he had was letters and telegrams from his explorer, urging patience, practically begging to extend the search until every possibility had been exhausted.
But, Mr D’Arcy’s finances, had run out. Even the Burmah Oil Company, whose investment had saved the expedition in 1904 were tiring of finding nothing. To the day of 26 may 1908 ,after 4 months of work on a link road to Masjid-i-Suleiman where two weeks ago a drill but had fallen and took more than a week to fish out. His take us to the day 26 of May 1908 at four o’clock the whole camp reeked of sulphur the drill reached 1,180 feet and a fountain of oil spewed out into the sky. Mr D’arcy got the news five days later due to the low speed of Persian telegrams . Mr William D’Arcy directly said “If this is true, all our troubles are over”. Within a year , the anglo-persian company which one day became BP was in business. This huge success of this new company potential lead to the opening of trading houses in London and Glasgow for the Anglo-Persian Stocks After the near loss of everything for William d’Arcy, he was richer than he had ever been in his entire life. After this huge victory in exploiding oil ,these fields of Naphtha were 210 kilometers from the mouth of the Persian gulf. By 1914 the Anglo-Persian project was nearly out of money for not the first time in its small history. The company had plenty of oil but no one to sell it to. Cars were still too expensive to count as a mass market for fuel, and more established companies in Europe and the New World had the market in...
Please join StudyMode to read the full document