Info:
Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran’s vast energy resources;
Petropars Ltd. is an entity that is wholly-owned by NICO. On November 26, 2008, NICO, a subsidiary of NIOC, was identified by OFAC as an entity that is owned or controlled by the Government of Iran;
Venezuelan energy giant Petroleos de Venezuela SA (PDVSA) joined with Iran’s Petropars to establish a joint venture, VENIROGC, which will undertake joint projects in third countries. The Syrian refinery will be the company’s first cooperative project.”;
A Memorandum of Understanding was signed on Monday 17 July in Tehran by Gholamreza Manouchehri, Deputy Managing Director of NIOC, Hamid Akbari, CEO of Petropars and Hiroshi Sato, Toyo’s Director of Energy Business Unit, aiming to renew the Salman oil and gas field’s facilities and to boost production;
French Total with a 50.1 percent stake, Chinese CNPC with 30 percent, and Iranian Petropars with a 19 percent share, signed a $4.8 billion contract with the National Iranian Oil Company in 2017 to develop phase 11 to produce 56 mcm/d of gas in three years. But after the withdrawal of the United States from the 2015 nuclear deal with Iran in last May, Total left the project and transferred its stakes to CNPC;
Petropars is working with German company Tessag Ina Iran AG;
In 2003 it was announced that PetroIran will merge with Petropars, another subsidiary of Naftiran Intertrade. The merger did not take a place. In 2007, the company was designated for privatization. On 14 December 2008, it was sold to Dana Energy. However, the deal was not finalized;
Subsidiaries:
PPI Company
POSCO Company
POMC Company
PRE Company
FZE Company
PKOGI Company
Also Known As:
Petropasr Limited
PPL
Involved In:
Nuclear Weapon Program
Established:
1998
Country:
Iran
Address:
Calle La Guairita, Centro Profesional Eurobuilding, Piso 8, Oficina 8E, Chuao, Caracas 1060, Venezuela;
No. 35, Farhang Blvd., Saadat Abad, Tehran, Iran;
P.O. Box 3136, Road Town, Tortola, Virgin Islands, British;
Website:
www.petropars.com
E-mail:
Info@ppars.com
Reason for the color:
» As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions;
» Iran signs $5-billion deal with France’s Total and Chinese oil company to develop natural gas field;
» Total to Invest $1 Billion in Iran Venture;
» Listed by the European Union in October 2012 as an entity linked to Iran’s proliferation-sensitive nuclear activities or Iran’s development of nuclear weapon delivery systems;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;
» Added to OFAC’s SDN list on 06/16/2016;
» Removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action;