The company -- renamed the Anglo-Iranian Oil Company (AIOC) in 1935 -- enjoyed success spurred on by World War I, the rise of automobiles, and petroleum-run factories during the `20s and `30s. In the early 1950s, conflict arose between Iran and the British driller. Unhappy with the AIOC's presence, Iran's elected premier Mohammad Mossadegh attempted to nationalize the production of oil. The CIA
helped Britain throw a 1953 coup that removed Mossadegh from power. The two nations set up a pro-Western Shah to lead the country.
Afterwards, AIOC underwent another name change. In 1954, the company took on the alias -- British Petroleum Company (BP) -- in an attempt to shed its imperialist image and get a fresh start. However, the Middle East remained skeptical, heavily impacting future business in the region.
NEXT: Alaska, 1958
