Naftiran Intertrade
| Private company/Sàrl, subsidiary of NIOC | |
| Industry | Oil and gas |
| Founded | 1991 |
| Headquarters | Pully, Switzerland |
|
Key people
|
Seyfollah Jashnsaz, (CEO). |
| Products |
Petroleum Natural gas Petrochemicals |
| Services | Trading/General contracting |
| Revenue | US$21.9 billion (2008) |
| $134 million (2008) | |
| Parent | NIOC |
| Website | www |
Naftiran Intertrade Company Sàrl (NICO) is a Swiss-based subsidiary of the National Iranian Oil Company (NIOC). NICO is a general contractor for the oil and gas industry. NIOC buys the vast majority of Iran's gasoline imports. NICO is a key player in Iran's energy sector.
NICO also handles trading & swaps operations on behalf of NIOC. Iran has swap arrangements with Azerbaijan, Turkmenistan, and Kazakhstan, under which it ships crude from the Central Asian producers to its Caspian ports. In exchange Iran delivers the equivalent barrels of crude on behalf of the three Central Asian producers to their customers in the Persian Gulf.
Naftiran Trading Services (NTS) was established in the Jersey Channel Islands (United Kingdom) in 1991. The intention was to start trading crude oil and products, as well as to create a competitive opportunity for the investment in oil and gas projects, as well as to play an active role in world energy security. In June 2003, a decision was made by NICOs management to transfer the whole NTS activities to a newly established company named Naftiran Intertrade Co (Sàrl), in Lausanne, Switzerland.
Petro Suisse Intertrade Company (SA), Hong Kong Intertrade, Noor Energy (Malaysia) Ltd and Petro Energy Intertrade (Dubai), all alleged front companies for NIOC/NICO, have been sanctioned by the United States in 2012.
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Wikipedia