National Iranian Oil Company at a Glance
Since 1941, the National Iranian Oil Company (NIOC) has been responsible for organizing and policy-making activities of the oil industry, including exploration, drilling, production, research and development, as well as oil and gas exports.
The company is one of the largest oil firms in the world with huge hydrocarbon reserves. With the advancement of knowledge and technology in the oil industry and the more complex economic and political occasions, the NIOC's stance has also been upgraded. Therefore, national and regional policies, and cooperation with important industrial countries in the field of energy supply and stabilization in global oil markets are on the company's agenda.
According to Article 44 of the Constitution, the NIOC has taken effective action in establishing economic enterprises by delegating authority to various sectors, while supervising the activities of the oil industry. It has also taken great steps in this direction by providing financial resources and items needed for development and growth in order to update knowledge and technology in the field of exploration, drilling and exploitation with confidence in Iranian specialists and staff.