Under the pressure from United States, British Petroleum was reluctantly forced to accept membership in a consortium of companies, founded in October 1954 as a holding company, headquartered in London, called,'Iranian Oil Participants Ltd' (IOP).
Under the pressure from United States, British Petroleum reluctantly accepted membership in a consortium of companies, founded in October 1954, to bring back Iranian oil to the international market. It was incorporated in London as a holding company called'Iranian Oil Participants Ltd' (IOP).