William Milligan Fraser, 1st Baron Strathalmond CBE (3 November 1888 – 1 April 1970) was a Scottish oilman.

He was appointed Commander of the Order of the British Empire (CBE) in 1918 for his work in increasing oil supply during the First World War.

He became deputy chairman (to John Cadman) in 1928, and played a great role in expanding the oil production in Iran, Iraq and Kuwait, becoming known as a leading expert on Middle East oil.

In 1941 he succeeded Cadman as chairman, a post he retained until 1956 (the firm was renamed the British Petroleum Company in 1954).

[2] After being appointed Commander of the Order of the British Empire in 1918, Fraser was knighted in 1939[3] and in 1955 he was raised to the peerage as Baron Strathalmond, of Pumpherston in the County of Midlothian.