History of Pasargad Oil Company
Pasargad Oil Company was established in 2003 to manage and operate six bitumen production plants located at the Tehran, Shazand Arak, Abadan, Tabriz, Shiraz, and Bandar Abbas refineries.
Under the general policies associated with Article 44 of the Constitution of the Islamic Republic of Iran, the government was required to transfer activities falling outside the scope of state ownership to the cooperative sector, private sector, or non-governmental public institutions by the end of the Fourth Five-Year Development Plan.
Accordingly, the aforementioned plants were transferred from the National Iranian Oil Refining and Distribution Company (NIORDC) to Pasargad Oil Company, an affiliate of the Social Security Organization, which operates as a non-governmental public institution.