LATINO

National Iranian Oil Company

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National Iranian Oil Company???? ???? ??? ?????
Type
State-owned
Founded
1948
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)
Website
www.nioc.ir
Iran portal

Iranian oil fields
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 (21.780109m3, 10% of world’s total).
Recoverable gas reserves in early 2005 , 28.171012m3 (15% of world’s total).
NIOC is considered the second largest oil firm of the world .
Current NIOC production capacities include over 4million barrels (64010^3m3) of crude oil and in excess of 500 million cubic meters of natural gas per day. In 2008, the average extraction cost of oil was less than $5 per barrel. This does not include processing (refining) and distribution costs.
Iran 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.
NIOC produces 50-80% of its industrial equipment domestically including refineries, oil tankers, oil rigs, offshore platforms and exploration instruments .
On the export side, the company benefits from its modern extensive facilities on the three islands of Kharg, Lavan and Sirri consisting of 17 jetties capable of berthing tankers of all sizes to lift and export its crude oil. Iran’s overall export crude oil price value about 52 billion dollars until the end of the year. As of 2005 it also owns 50% of the offshore gas field of Rhum in the North Sea, which is Britain’s largest untapped gas field.
Largest Iranian Oil Fields
Field’s Name
Thousandbarrels per day
Thousandcubic meters per day
(onshore)
Ahwaz (Asmari Formation)
9.5
History
Main articles: William Knox D’Arcy and Anglo-Iranian Oil Company
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. The consortium shared profits 50-50 with Iran but did “not to open its books to Iranian auditors or to allow Iranians onto its board of directors.” According to the company’s website: “The victory of the Islamic revolution annulled of all previous regulations, and following the withdrawal of foreign employees from Iran’s oil industry, expert domestic manpower took full control of it’s affairs.” [sic]
NIOC’s Oil Reserves
Main article: NIOC’s Oil Reserves
According to OPEC, NIOC recoverable liquid hydrocarbon reserves at the end of 2006 was 138,4 billion barrels.
NIOC oil reserves at the beginning of 2001 was reported to be about 99 billion barrels, however in 2002 the result of NICO study showed huge reserves upgrade adding about 31,7 billion barrels of recoverable reserves to the Iranian oil reserves.
After 2003 Iran has made some significant discoveries which lead to addition of another 7.7 billion barrels of oil to the recoverable reserves of Iran.
In April 2006 the Fars News Agency reported that Iran has begun plans to create an SPR. The National Iranian Oil Company (NIOC) has begun construction of 15 crude oil storage tanks with a planned…(and so on) To get More information , you can visit some products about White Distilled Vinegar, cooking olive oil, . The Sugar products should be show more here!

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