Mozaffar al-Din Shah’s government granted British subject William Knox D’Arcy a 60-year oil concession covering most of Iran except five northern provinces. It gave a private concessionaire broad exploration and extraction rights while Iran remained formally sovereign. Unequal bargaining power and revenue later became central political issues.
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What did the 1901 D’Arcy concession primarily grant?
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Explanation
The event record explains why this distinction matters: Broad oil exploration and extraction rights to a foreign concessionaire.