Pars Oil Company was established in 1959 as a joint-stock company. In 1962, it was admitted to the Tehran Stock Exchange.
After the Islamic Revolution of 1979, this company was confiscated by the revolutionary government and handed over to the Foundation of the Underprivileged of the Revolution, a group of industries also (industrial resources at the disposal of about 56 families affiliated with the previous regime (under the title of state and government supervision), under the management of institutions and organizations. In the 1990s, some shares were traded between former shareholders such as Royal Dutch Shell. By the year 2000, Fuad Ray Investment Company Under the supervision of the Execution of Imam Khomeini's Order & decree with the tact and power of Mohammad Reyshahri executive headquarters, as well as some influential figures in intelligence, security, and economy, such as Abbas Suri (Hekmat) is one of the directors of the Islamic Revolutionary Guard Corps, Mohammad Shariatmadari, former Minister of Commerce, Mahmoud Yasini, Saeidi Kia, former Minister of Roads, Gholam Hossein Nozari, former Minister of Oil, Homayun Khosravi, Behrouz Makoui, Amir Moghadam, Director of Rouhani's Presidential Office & the youngest of them Yasser Faze (1979) attributed to Ali Meshkini, bought more than 48% of the shares of Pars Oil Company, which was owned by Shell.
