WORKING FILE · OPEN-SOURCE COMPILATIONAS OF 16 Sep 2026
FARSWEB

L4 · OWNERSHIP

State-adjacent mix

PGPIC is listed, and called private, because pension funds and social-security vehicles took blocks in 2013. Those owners still vote the board. Percentages below are the last disclosed snapshots — perishable. The mix is the durable fact: oil pensions, TAPICO/Tamin, NPC, justice shares, Taban Farda, Parsian.

Who votes the holding

  • Oil Industry Pension Funds

    NIOC / oil-industry pension and savings funds. Took a 17% PGPIC block in the 2013 auction and still anchor board seats. The Khoshrou / Hosseinzadeh orbit is the named personnel channel into the holding chair.

  • Tamin Petroleum & Petrochemical Investment Co.

    Social-security (Tamin) investment arm for oil, gas and petrochemicals. Historical PGPIC holder (~8.6% in a 2018 snapshot) and 15.3% of Nouri. TAPICO’s own reporting still treats the PGPIC stake as a top earnings line.

  • National Petrochemical Company

    Ministry of Petroleum petrochemical parent. Created PGPIC in 2011 out of NPC assets; retained a residual block (cited ~20% in 2018). NPC International (UK) and NPC Alliance (Philippines) were designated with the 2019 tranche as PGPIC-controlled foreign vehicles.

  • Justice Shares Investment Companies

    Provincial justice-share investment companies. Historical ~40% of PGPIC and ~30% of BIPC, Fajr and Bouali. A politically allocated float, not a single controlling mind — which is why they show up as a block on registers and as a vacuum in the boardroom.

  • Taban Farda Petrochemical Group

    Parastatal petrochemical investment group. Historical ~8.6% of PGPIC, 11% of Tondguyan, and a large disclosed Mobin stake. A third cheque-book alongside pensions and TAPICO.

  • Parsian Oil and Gas Development Group

    Listed oil-and-gas investment group. 18.76% of Pars, 1% of Arvand (pre-IPO), and ~15.7% of the terminals company. A capital-market face on the same state-adjacent ownership mix.

  • Qadir Investment Co.

    18.57% of Pars Petrochemical. Co-controller, with Parsian, of the residual Pars block that PGPIC does not hold.

  • National Pension Fund Investment Co.

    Civil-service pension investment vehicle. 5.52% of Nouri and ~15.7% of terminals. Distinct from the oil-industry pension funds — another social-security claim on the cash flows.

Nested control

Some plants are not direct PGPIC subsidiaries. Karun is 99.97% Bandar Imam. Apadana is 99.9% Mobin. Almas is 51/32/17 PGPIC–BIPC–Arvand. IIPGC is the paper parent for Ilam and related inland names.