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History of Oil
Top 10 US Oil Giants
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Other World Oil Giants
The National Iranian Oil Company (NIOC), under the direction of the Ministry of Petroleum of Iran, is an oil and natural gas producer and distributor headquartered in Tehran. It was established in 1948.
NIOC was established with the objective of the exploration, development, production, marketing and sales of crude oil and natural gas. NIOC's oil and gas reserves in early 2005 was as follows;
Recoverable liquid hydrocarbon reserves in early 2005, 136.99 billion barrels (21.780◊109 m3, 10% of world's total).
Recoverable gas reserves in early 2005 , 28.17◊1012 m3 (15% of world's total).
NIOC is considered the second largest oil firm of the world.
Current NIOC production capacities include over 4 million barrels (640◊103 m3) of crude oil and in excess of 300 million cubic meters of natural gas per day.
Iranís cumulative oil production has reached to 61 billion barrels by the end of 2007, most of these volume produced after 1951, under the supervision of NIOC.
National Iranian Oil Company was established in 1948 under the leadership of then Prime Minister Mohammad Mossadegh when the Anglo-Iranian Oil Company was nationalized. Following the 1953 coup that overthrew Mossadegh it became a consortium of international oil companies: 40% owned by Anglo-Iranian holding, five American companies holding 40%, and the Royal Dutch/Shell and Compagnie Francaise de Petroles holding 10% each.
Headquarters Tehran, Iran
Key people Gholam Hossein Nozari, Minister of Petroleum, Seyfollah Jashnsaz, Managing Director; Abdol-Mohammad Delparish, COO; Abbas Allahdad, CFO
Industry Petroleum industry
Products Oil, Gas, Petrochemicals
Revenue $51 bn USD (2007)