Pars Oil Company
|Key people||Ali Sadeghi (managing director)|
History and development
Pars Oil Company was founded in 1959 as a Joint Stocks Company by Abdol-Ali Mirza Farmanfarmaian and some of his relatives, later adding more stock holders. Later it was admitted to Tehran Stock Exchange in 1962. After the Islamic Revolution of 1979, the company was ceased by the revolutionary government and passed on to the control of the Mostazafen Foundation of Islamic Revolution, a government owned umbrella group set-up as part of the nationalisation efforts of the new government. From the 1990s, some of the stocks were returned to the former stock holders. In 2000 Foad Rey purchased 48.7 percent of Pars Oil Company stocks.