L2 · DOSSIER
HoldingTehran HQSDN NPWMD / IFSRفارس
Persian Gulf Petrochemical Industries Co.
شرکت صنایع پتروشیمی خلیج فارس
Iran’s largest petrochemical holding, carved out of National Petrochemical Company assets in 2011 and listed on the Tehran Stock Exchange as فارس. It controls roughly a third of national nameplate capacity — Treasury’s 2019 designation cited ~40% of production and ~50% of petrochemical exports — across olefins, aromatics, polymers, fertilizers, utilities, and gas plants clustered in Mahshahr and Assaluyeh.
- Short
- PGPIC
- Ticker
- فارس
- Founded
- 2011
- Nameplate
- 22 Mt/y
- Staff
- 10,000
- Site
- Haft Tir, Tehran
PRODUCTS
Olefins · Aromatics · Polymers · Fertilizers · Utilities · Gas processing
OWNERSHIP
- Oil pensions — NIOC / oil-industry pension funds — core board seats
- TAPICO — Tamin / TAPICO social-security investment arm
- NPC — National Petrochemical Company residual
- Justice shares — Justice-share investment companies (historical ~40%)
- Taban Farda — Taban Farda petrochemical group
ANALYST NOTES
- Headquarters: No. 38, Karim Khan Zand / Haft Tir Square, Tehran.
- Business registration 89243. Website pgpic.ir.
- OFAC SDN since 7 June 2019, linked to Khatam al-Anbiya (IRGC construction conglomerate) for financial support and EPC contracts.
- Ownership is a state-adjacent mix of oil pension funds, TAPICO/Tamin, NPC, and other parastatal vehicles. That mix is why CEOs and board seats rotate with political bargains, not just plant performance.
- Critics call the personnel system a patronage pool; the company calls it transformation.
- Board chairs and legal seats rotate among oil pension funds (Saeed Khoshrou / Hossein Hosseinzadeh orbit), NPC, TAPICO, and regional investment companies. Any single board snapshot is perishable.
PEOPLE
- Abdolali Ali-Askari — ceo
- Mohammad Shariatmadari — politician
- Hassan Abbaszadeh — politician
- Jafar Rabiei — ceo
- Bijan Chegeni — chair
- Saeed Khoshrou — owner-seat
- Hossein Hosseinzadeh — owner-seat
EVENTS
- 2011PGPIC created out of NPC assets
- 2013-045% TSE price-discovery; 17% to NIOC pension
- 2019-06-07OFAC designates PGPIC and 39 subsidiaries
- 2023Ali-Askari’s first PGPIC tour
- 2024-12Shariatmadari replaces Ali-Askari
- 2025-12-24Arvand lists as اروند / ARVAND
- 2026-06Board names Abbaszadeh; quorum fails
- 2026-09Ali-Askari restored; Karimi and Ansari-Nik decreed