An oilman not of oil
A new biography of Calouste Gulbenkian portrays him as a formidable behind-the-scenes fixer, rather than a fuel fanatic
Calouste Gulbenkian was the then richest man in the world when he passed away in 1955 at the age of 88. But, while the man long dubbed ‘Mr Five Per Cent’ may have made his fortune in his share in a range of Middle East oil ventures, a new book suggests that the source of his wealth and influence was hardly his passion. Oil made Gulbenkian fabulously wealthy and hugely influential. As Jonathan Conlin points out in ‘Mr Five Per Cent: The many lives of Calouste Gulbenkian’*, the Turkish-born British Armenian was a key figure in the creation of international oil companies. His 1928 Red Line Agreement—signed by oil firms operating within a red circle on a map, drawn around the former boundaries
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
