AMEA Tarix İnstitutu

The first foreign capital in Baku was laid by the Nobel brothers from a family of famous Swedish engineers and inventors. The Nobel brothers brought walnuts from Germany to make rifles, which cost them dearly. Robert Nobel, who was sent to Lankaran by his younger brother Ludwig to make it cheaper, goes to Baku. A young businessman interested in the development of the oil industry comes to the conclusion that he can quickly make a fortune from oil. Realizing that oil is the most profitable sector in Baku, Robert Nobel founded the Nobel Brothers and opened an oil refinery in the Black City. Thus, the Nobel laureates soon became one of the giant oil magnates. In the middle of 1876, Ludwig Nobel, a talented engineer who was well acquainted with the modern organization of industrial production, moved to Baku. Thus, a new stage is entered in the future development of Baku oil.