MID-EAST OIL AT A GLANCE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP62S00545A000100090129-5
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 9, 2016
• Document Release Date: August 30, 2000
• Sequence Number: 129
• Content Type: NSPR

Approved For Release 2000/09/11 : CIA-RDP62SO0545A000100090129-5
, ' .$ y CG WALL STREET ~OIIRN L CG a or er
u p,..I
derives largely hr`oin> its va"sf"oi"l riches ' actual
pifoduction as well as "reserves. Tod'""' the
ai6a aocoufts for about one fourth of the Free
World's tptaFbruceou %'T ansome`$ 'o"`o'ff'
known rese ves. x.. :. ?
Production of Mid l ast oil has nearby quad
rupled `in the past lb years. tn the first five
moths of 1$58 production" in' the area aver-
age8'4;ii3,00b barre1a aify. About 06% of this
oils exported, with some-60% doing to West-
ern Europe; espec'alTy Rritain and France;
25% to Africa and the ll"ar "East; and about
13% to the Western hemisphere. The 14Tid-E4st
supplies two-thirds '666 the petroleum products
,that fuel European factories and transportation.
a country y country rundown on
ITere's
Mid.East oil production, reserves and The ` vai ri
ous companies involved in ownership:
IRAQ iste leet`worl 's sixth-far es oil-
producing nation,' accoi ing`tto`th6'U S 1 ureau
of. Mines. The U.S. is first: Crude oil produc-
tioi} in April totaled 636;}l06 barrel`s 42 gallons
ea,cl), daily, 15`.5%'of the Mid''ast's total pro-
duction. Proved reserves,- total some 25 billion
barrels, compared to alio"ut .3 51iil4oii for the
U.S.
Most of Ira's crude moves via pipelines to 11
the lvIediterr nean Ports of anias in Syria
and_ Tripoli in Lebanon anti thence by tanker
tq, 'lestern urope: Traci petroleum o , `Ltd
whici operates the oil -concession m Traq, i's'
O.V edbyal'J.S, ritisii aridp"rencli compafues:
Ownership breaks down this wary `iiitisli
Petroleum Cho , ttd , 3` 50 royal 7r)utcll
Shell Groin, 23.75%; Compa nie rrancaisedes
troles, 23.'75% year ast Development
Pe
Corp. (which is owned ,jointly by Standard Oil
co, of New Jersey and `Socony Mobil Oil Co.)
5.
:6%p and the C. S lbenkian Estate,
'or the first five months of 1958, ^5 ersey
Standard. 's share oaf Ira,' crude produc-
as 76,42 barrels daily,' or about 3% to
tion. was'
4% of Jersey Standard's total world-wicle'gross
crYiije bit production for the period.
Like iris Mid-fast oil` rich nations, Iran
gets 50% of the profits from the sale of its of .
-bast year the Iraq_ g received
$1$6,803,410 from this source. The country's
oil production was lower ast year than in 1956
because of; damage to umpmg stations along
`the'p# clines Much production of lvtid Fast?`oil
Iw6 41s1'0pted in 195 of course, due fo gypt"s
sd1'zpre of tle kSiez; anal,as well as damage
cause . to pipelines bey saboteu'rs.
K1 Alt, an independent sheikdom along.
side the Persian,,Gulf and Iraq, r ranks third
behind the U.S. and Venezuela in world petro-
leum production (excluding the Soviet Union).
Although production began on, in 1945, daily
output in April was 1,'397,9I50 Iarrels,' 34%'6f
,the total Mid-East production. Reserves are
largest. They are under concession to the
Kuwait Oil Co., Ltd., jointly owned by the
British Petroleum Co. and the Gulf Oil Corp.
SAUDI. ARABIA, Iraq's principal southern
neighbor, produced about 361 million barrels
of crude oil last. year, putting it in fourth
position in Free World production. lbai1y output
in April was 928,300 barrels, 26% of the Mid-
East's total. Reserves total about 45 billion
barrels. The concession belongs to Arabian
American Oil Co., 30% of which is owned by
Standard Oil Co. of California, 30% by the
Texas Co 30% by Jersey Standard and 10%
by Socony Mobil.
IRAN now ranks fifth in world oil produc-
tion, pumping. 848,000 barrels daily in April.
Reserves are about 32 billion barrels. Under
the leadership of the fanatical Premier Mo-
hammed Massadegh, Iran nationalized its oil
industry in 1951.
Iran's oil is produced by a group of West-
ern, oil companies for the National Iranian Oil
Co., under a 50.50 profit-sharing agreement.
The companies and their shares of the half-
interest are: British Petroleum, 40%; Royal
Dutch, Shell Group, 14%; Compagnie Fran-
caise de Petroles, 6%; Jersey Standard 7%;
Standard Oil of California, 7%; Texas Co.,
7%; Gulf Oil, 7%; Socony Mobil, 7% and
Iricon Agency, Ltd., 5%. This latter concern
is owned, in varying proportions, by Richfield
Oil Corp., American Independent Oil Co.,
Standard Oil Co. (Ohio), Getty Oil, Signal Oil
and Gas Co., Atlantic Refining Co., Hancock
Oil Co., Tidwater Oil Co. and San Jacinto
Petroleum Corp.
QATAR, a small peninsular sheikdom jut-
ting into the Persian Gulf from Saudi Arabia,
produced 187,000 barrels of crude oil daily in
April, putting it in 10th place in world output.
It produces 4.5% of total Mid-East oil.
Reserves are about 1.8 billion barrels. Owner-
ship of Qatar Petroleum Co., Ltd., is the
same for ownership of the Iraq Petroleum
Co., Ltd.
BAHREIN, an island 'sultanate in the Per-
sian Gulf, produced about 40,000 barrels of pe-
leum daily in April, about 1%0 of the area's
total production. Proved reserves are 200
million ;barrels. Oil rights are controlled by
the Bahrein Petroleum Co., Ltd., which is
owned jointly by Standard Oil of California and
the Texas Co.
The remainder of the Mid-East's oil pro-
duction comes from Israel (1,200 barrels daily
in April) and the neutral zone between Saudi
Arabia and Kuwait. (70,000 barrels daily). The
American Independent Oil Co., owned by sev-
eral U.S. companies, has the concession in
the Kuwait portion of the neutral zone and
Getty Oil Co. has it in the Saudi Arabian sec-
tion. Reserves in the whole zone are some
5 billion Barrels.
Approved For Release 2000/09/11 : CIA-RDP62SO0545A000100090129-5
 Approved For Release 2000/09/11: CIA-RDP62SO0545AO
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Approved For Release 2000/09/11: CIA-RDP62SO0545AO