William Knox DâArcy
British entrepreneur
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- Oct. 11, 1849, Newton Abbot, Devonshire, Eng.
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- May 1, 1917, Stanmore, Middlesex [now Greater London]
William Knox DâArcywas an English businessman who was the principal founder of the Iranian oil industry.
As a youth DâArcy emigrated with his father to Queensland, Australia, where between 1882 and 1889 he made a fortune in the Mount Morgan goldfield. He returned to London and, with British government assistance, secured (in 1901) a 60-year oil-mining concession in Iran. The area, more than 500,000 square miles (1,300,000 square km), included the entire country exclusive of five provinces bordering on Russia. The first strike of any value was made in May 1908 in southwestern Iran and led to the formation of the Anglo-Persian Oil Company in 1909. DâArcy retired from active business immediately thereafter. As the first Westerner to discover the oil-production potential of the Middle East, DâArcy effectively transformed the region into an area of enduring geopolitical interest.
