Officially privatized in 2000, NITC is nonetheless much entwined with the state-owned National Iranian Oil Company, or NIOC.
FORBES: Iran Sanctions: A Tale of Two Fleets
2.
Sinopec, the Chinese oil giant, and the National Iranian Oil Company (NIOC) signed an agreement to explore oil in Zavareh, Kashan, 205 kilometers south of Tehran.
CENTERFORSECURITYPOLICY: Center For Security Policy
3.
In March 2004 NIOC boasted about huge contracts it was signing with foreign companies to help meet its goal of increasing oil production by 25% by 2010.