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Author Topic: Top 10 Oil & Gas Companies: Number 3 - National Iranian Oil Co (NIOC)  (Read 1250 times)

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The third largest oil and gas company is the National Iranian Oil Co.

The company that was to become BP, AICO (Anglo-Iranian Oil Company), initially owned rights to all Persian oil resources. However they were ousted  when the Iranian oil industry was nationalised resulting in the formation of the National Iranian Oil Company (NIOC) was formed in 1951.

This meant the NIOC had exclusive rights to all Iranian extraction, exploration, transportation and exportation of crude oil, and all natural gas / LNG sales

Remarkably the NIOC remains a major oil and gas producer despite international sanctions targeting oil revenues in an effort to stop Iranís nuclear programme. Itís thought that some nations have been purchasing oil from Iran with Gold to bypass sanction regulations.

Iran has threatened to close the Strait of Hormuz in retaliation for U.S. and European sanctions which could lead to a spike in oil prices globally.

The UAE in response is looking to the Fujairah Terminal located on the Gulf of Oman as opposed to the Persian Gulf, theoretically a perfect position to sidestep the diplomatically tense chokepoint

Barrels Per Day          6.4 million
Founded                    1948
Headquarters            Tehran, Iran
State Owned?            Yes
Key Personnel            Ghadir Ghasem (Minister of Petroleum)  / Ahmad Ghalehbani (Managing Director) / Abdol-Mohammad Delparish (COO) / Mahmoud Nikousokhan (CFO)
Revenue                     US$ 85 billion (2010)
Employees                 41,000 (2011)
Website                     en.nioc.ir

DID YOU KNOW?
The NIOC is currently contesting with Saudi Aramco over the name of the Arabian Gulf which it believes should be referred to as the Persian Gulf.


Adewale Odubiyi
Owner, Nigeria Oil & Gas Forum

Nigeria Oil & Gas Forum


 

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