Discovery of Oil in Persia

The 1908 discovery of large quantities of oil in Persia transformed the economic and political value of what had been hitherto regarded as a marginal and unimportant land. The Royal Navy converted from coal to oil which helped make the oil deposits in Persia even more strategically sensitive. By good fortune, the British had just reached an agreement with Russia over influence in Persia and so did not have to justify its claims and influence to other European and major powers at least.