Mantashev bought (together with another Armenian colleague, Michael Aramyants) unprofitable oil wells in Baku that soon became profitable. In 1894 he created a tentative association along with the other major oil interests in Russia, the
Nobels and the
Rothschilds, in order to cooperate in the marketing of petroleum products within certain geographical areas. This was in response to
Standard Oil's aggressive marketing policy. In 1896, during a trip to Egypt, Mantashev met
Calouste Gulbenkian who was fleeing the
Ottoman Empire with his family as a result of the
Hamidian massacres. Mantashev introduced Gulbenkian to influential circles in Cairo, including
Sir Evelyn Baring. For refining oil, Mantashev built a kerosene plant in Baku, as well as a lubricant plant and a marine refinery for pumping oil and fuel to vessels. His company owned a factory for the fabrication of canisters for the packaging and storage of oil in
Batumi, a mechanical workshop in
Zabrat, an oil pumping station in
Odessa, and even one hundred freight cars circulating in the southwestern railways of Russia. (The young
Joseph Stalin organized strikes in Mantashev's Batumi factory and participated in street demonstrations in 1902.) In England Mantashev bought two tankers, which supplied oil to India, China, Japan and the Mediterranean countries. In 1899 he created the trading house "A.I. Mantashev and Co.", opening representative offices and warehouses in the major cities of Europe and Asia:
Smyrna,
Thessaloniki,
Constantinople,
Alexandria, Cairo,
Port Said,
Damascus, Paris, London,
Bombay and
Shanghai. Mantashev became a shareholder in a number of oil companies, among them the Nobel Brothers. 51.3% of the total stock of oil and 66.8% of the oil content in the Caspian Sea was centered on the firm. In 1904, it was the third largest oil company in Baku, next to only the Nobel Brothers and the
Caspian Sea Society of the Rothschild brothers. Mantashev funded the
Baku-Batumi pipeline which was launched in 1907, becoming the world's longest pipeline, 835 kilometers long. From 1899 to 1909, his company by volume of fixed capital (22 million
rubles) was the largest in Russian industry. ==Philanthropist==