November 18, 2025 | 12:30
Partners
Society
Culture
"Thus… I wholly dedicate my devotion to my Nation's sole consolation for the substantial flourishing of Armenia, as a sacred duty to our homeland's heritage" — Calouste Gulbenkian
Recently, Yerevan State University Rector Hovhannes Hovhannisyan visited Lisbon on a working trip to meet with Razmik Panossian, Director of the Armenian Communities Department at the Calouste Gulbenkian Foundation. A comprehensive and productive discussion was held with the goal of exploring and defining new avenues of cooperation. Several priority areas were identified that could significantly enrich joint efforts between YSU and the foundation in Armenian studies, education, and culture. Of particular importance is the translation and publication of outstanding research in Armenian studies on international platforms, which will substantially increase the global visibility and accessibility of Armenian scientific thought and cultural heritage. The visit also provided a timely opportunity to revisit the life and work of this great Armenian, recognizing him as a vivid example of patriotic and humanitarian dedication, both as a citizen and as an individual.
In 1869, a child was born in the Scutari district of Constantinople. His father, Sarkis Agha, a merchant, believed that his son would continue the family business in manufacturing. However, the son chose a different path, becoming a petroleum engineer and mining specialist.
After completing his early education locally, he went to Marseille, France, in 1884 to improve his French, and subsequently to London, England. In 1887, he graduated from King’s College London with a degree in civil engineering.
Educated at prominent European universities, Calouste Gulbenkian mastered eight languages.
In 1891, his book "Transcaucasus and the Absheron Peninsula: Travel Memoirs" was published. Along with several other articles in which he analyzed, in detail, Germany's growing political influence in Turkey, this work caught the attention of the Ottoman imperial treasurer, Hakob Pasha. Soon after, the articulate and well-educated young Armenian was tasked with preparing a report on the Ottoman Empire and the oil-rich regions of the Middle East. His successful work led Abdul Hamid II to declare these lucrative oil fields as the property of the Sultan.
The reputation of this promising young petroleum specialist quickly extended beyond the borders of the Ottoman Empire.
"This was the beginning of the great powers' oil competition, which would dominate the history of the Middle East for decades…" — writes Gulbenkian’s biographer, R. Hewins, about this period.
The talented young man was the first to recognize the effectiveness of large-scale exploitation of the Persian Gulf oil fields. By 1912, he owned 15% of the shares in the newly established oil company (for context: the Anglo-Dutch oil consortium held 25%, the Turkish National Treasury 35%, and a German bank 25%). Due to subsequent forced concessions under difficult circumstances, his share later decreased to 5%, which remained unchanged amid ongoing upheavals. On July 31, 1928, a new agreement was signed in Ostend, Germany, marking the birth of the Iraq Petroleum Company, where his share once again was 5%. From this arose his famous nickname: "Mr. 5%".
By skillfully balancing the interests of oil companies—essentially representing the interests of powerful states—he was able to establish economic equilibrium. In recognition of his exceptional negotiating skills, another title was appended to his nickname: "The Talleyrand of Oil Diplomacy".
Endowed with boundless energy and extraordinary intellectual abilities, Calouste Gulbenkian worked during a period when the world was convulsed by global wars and economic crises.
The material wealth of this internationally renowned Armenian oil magnate, who wielded significant political and economic influence over the Turkish, French, British, and Persian governments, served the Armenian people both during his lifetime and posthumously.
—From the book "The Armenian Beneficial Activities of the Calouste Gulbenkian Foundation, 1956–2006"
