Keep updated
Get in touch
Canonical ID: NK-gDBnPuKsK6gi7we92cK5QR · Entity type: Company (reference)
| Property | Value | Lang | Source dataset | Source ID | First seen | ||
|---|---|---|---|---|---|---|---|
LegalEntity:notes | Petroiran Development Company Ltd. (PEDCO) is a wholly-owned subsidiary of Naftiran Intertrade Company Ltd (NICO), which is in turn a subsidiary of the National Iranian Oil Company (NIOC), which provides support to the Government of Iran. NIOC not only indirectly owns PEDCO, but also makes direct appointments to the company’s leadership. PEDCO is a production and exploration company responsible for developing oil and gas fields. The revenue generated by NIOC’s oil sales plays a significant role in funding Iran’s military and the IRGC. Therefore, PEDCO is owned or controlled by an entity that provides support to the Government of Iran. | eu_journal_sanctions | eu-oj-c9bd0b8b3df5d1203e5d7d0f9c60f5531acef2ae | ||||