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In 1935, a 75-year oil concession was granted to the Qatar Petroleum Company, a subsidiary of the Iraq Petroleum Company, which was owned by Anglo-Dutch, French, and U.S. interests. High-quality oil was discovered in 1940 at Dukhan, on the western side of the Qatari peninsula. However, the start of WWII delayed exploitation of Qatar's oil resources, and oil exports did not begin until 1949.
In 1935, a 75-year oil concession was granted to the Qatar Petroleum Company, a subsidiary of the Iraq Petroleum Company, which was owned by Anglo-Dutch, French, and U.S. interests. High-quality oil was discovered in 1940 at Dukhan, on the western side of the Qatari peninsula. However, the start of WWII delayed exploitation of Qatar's oil resources, and oil exports did not begin until 1949.
[[File:Doha Mosque Qatar.jpg|thumb|left|280px|Doha Mosque.]]
During the 1950s and 1960s gradually increasing oil revenues brought prosperity, rapid immigration, substantial social progress, and the beginnings of Qatar's modern history. When the U.K. announced a policy in 1968 (reaffirmed in March 1971) of ending the treaty relationships with the Gulf sheikdoms, Qatar joined the other eight states then under British protection (the seven trucial sheikdoms--the present United Arab Emirates--and Bahrain) in a plan to form a union of Arab emirates. By mid-1971, as the termination date of the British treaty relationship (end of 1971) approached, the nine still had not agreed on terms of union. Accordingly, Qatar declared independence as a separate entity and became the fully independent State of Qatar on September 3, 1971.
In February 1972, the Heir Apparent, Sheikh Khalifa bin Hamad, deposed his cousin, Amir Ahmad, and assumed power. Key members of the Al Thani family supported this move, which took place without violence or signs of political unrest.
In February 1972, the Heir Apparent, Sheikh Khalifa bin Hamad, deposed his cousin, Amir Ahmad, and assumed power. Key members of the Al Thani family supported this move, which took place without violence or signs of political unrest.