Nationalization of Iranian Oil Industry

Date: March 15, 1951 • Location: Tehran, Iran

The Iranian oil industry was nationalized in a movement led by Mohammad Mosaddegh.

The nationalization of the Iranian oil industry resulted from a movement in the Iranian parliament (Majlis) to seize control of Iran's oil industry, which had been run by private companies, largely controlled by foreign interests. The legislation was passed on 15 March 1951, and was verified by the Majlis on 17 March 1951. The legislation led to the nationalization of the Anglo-Iranian Oil Company (AIOC) and the formation of the National Iranian Oil Company (NIOC). The movement was led by Mohammad Mosaddegh, a member of the Majlis for the National Front and future prime minister of Iran.