Chronology of NITC in Brief

Table of Contents

Conclusion

Iran’s Energy and Maritime Potentials

2

Chronology

Of

NITC in Brief

3

NITC History

1976

1975 1970

1955

No. of Tankers increased to 7 with Total tonnage of (682 K Dwt)

Establishment of NITC - The shareholder was a National Fund - Owned, Two 2nd. hand Product Tankers - Purchased Two 35 K Dwt Tankers

All Shares of NITC Transferred to NIOC

Establishment of JV Tanker Shipping Company with BP (Total 10 Tanker vessels - 1.2 M Dwt)

4

2000

1989

1986

1980

Iraq’s Imposed war against Iran - Export of Crude Oil from war zones - Import of Oil Products

Escalation of war to PG (Tanker War)

- 200 Air strike - 150 Seafarers martyred - Shipment of 3.5 Billion Barrels of crude oil

from war zone

Resumption of Fleet - Ordering 28 New Tankers & replacing damaged and old Tankers

Privatization Scheme of NITC - 34% , NIOC Pension Fund - 33%, Gov. Pension Fund - 33%, Social Security Fund

5

2016

2014

2013

2010

Expansion of NITC Fleet - 12 VLCCs - 1 LPG Carrier

EU General Court, declares that the sanction against NITC is illegal & the reason in behind is insufficient

Having had the expansions, NITC Fleet recognized as the world’s top shipping company in terms of tonnage (Over 15.4 M Dwt)

Developing of Value Chain Of Maritime Industry - Purchase of VLGC Vessels - Purchase of Tanker Vessels - Developing Bunkering Business - Training and Manning - Ship Management Business - Ship Repair, Maintenance and Supply

6

1 NIOC 13 TUPRAS 25 NAVION

2 NICO 14 GLASFORD 26 URSA

3 CSSSA (Total) 15 SOIL 27 SASOL

4 SHELL 16 VITOL 28 ERG

5 BP 17 ZHUHAI ZHEN RONG 29 SIBNEFT

6 PETRONAS 18 SINOCHEM 30 OMA

7 REPSOL 19 SK 31 SARAS

8 UNIPEC 20 PETRON 32 CLEARLAKE

9 ENGEN 21 CPC 33 TAMOIL

10 IOC 22 CHINA OIL 34 STASCO

11 AGIP 23 THAI OIL 35 API

12 PETROBRAS 24 CEPSA 36 KPC

Main Charterers of NITC Fleet Year (2000 t0 2012)

7

NITC Membership in Maritime Organizations In recent Years Oil Companies International Maritime Forum (OCIMF)

INTERTANKO

Bimco

Kish P & I

Asian P&I Club

Islamic Shipowners

Executive Committee Of Iranian Maritime Organization

Iran National Safety Committee

Iranian Maritime Association

Lloyd’s Advisory technical Committee

DNV Technical Committee 8

The Fleet includes : ( 35 K to 318 K dwt) o VLCC, o Suezmax, o Aframax, o Product/Chemical Tankers o LPG carrier vessels o MR Tankers (Under full management)

NITC Fleet Total fleet : 62 Tankers Tonnage : Over 15.4 Mdwt (1st. Ranking) Full management: 69 double hull tankers

Employees: - Well trained seafarers - Over 2350 - Shore based - 565

9

0

0.2

0.4

0.6

0.8

1

1.2

1.4

2011 2012 2013 2014 2015

Billion $

Income

10

Engaging in new Initiatives in Shipping Industry

Strategic Goals (5 Year Strategic Plan)

Diversifying the Revenue Streams

Maintaining the highest level of Quality, Safety, Security and Environmental Standards

Optimal Management of the Costs

Expansion of fleet in future: - Crude Oil and Product Fleet - LPG Fleet - LNG and FLNG

Increasing Loyalty, Job Security & Empowering the Human Resource

Increasing NITC’s Market Share 11

Iran’s

Energy and Maritime

Potentials

12

Strategic Oil & Gas

Reservoirs Region

More than 55% of approved Oil

Reservoirs

And

More than 70% of approved Natural

Gas Reservoirs

of the World is located in

Persian Gulf & Up to Caspian Sea

Region

Iran Oil Ministry Annual Bulletin (5th Edition) 13

Potentials of Iran’s Energy

Oil Reservoirs – 157.8 Billion bbls (4th. Ranking wise – 9.3% of Total)

Natural Gas Reservoirs – 34 Trillion M3 (1st. Ranking wise – 18.2% of Total)

Crude Oil Export in near Future: 1.5 to 2.0 M bbls p/d

LPG Export Outlook: 8.5 Million Tonnes p/y It will be increased by developing of new phases in Assaluyeh Projects (South Pars) 14

Conclusions

15

OPEC Oil Export Policies

US, Oil Production Increase, Import Reduction & Lifting Oil Export Ban

Major Issues Which have Impacts on Global Tanker Shipping Companies

Strategic Petroleum Reservoirs of Chinese & other Countries

16

Increase in Energy Consumption –India & China

Impact of Suez & Panama Canal development & on trading lanes

LNG Demand on the increase in many parts of the world

U.S. LPG & LNG Production

Entry of NITC Fleet to Global Market

Contango Effects

Export of Oil Products from M/E to EU region

17

Major Issues Which have Impacts on Global Tanker Shipping Companies

NITC officially announces it is ready to enter into new cooperation & Joint Ventures with major companies willing to invest in Iran’s Oil & Gas Sectors including FLNG

Iran with the biggest Gas Reservoirs in the world, means there is a wide range of potential investment opportunities in developing LNG production as well as in LNG transportation.

18

Major Issues Which have Impacts on Global Tanker Shipping Companies

19

NITC Sincerely Welcomes :

Business Partners

Who are interested in development & investments in new shipping projects on

the basis of Joint Venture activities

NITC, International Oil and Gas Trade and Shipping Center

The aim of NITC is to create a Hub, for related industries to the International Oil & Gas Trade & Shipping Center

NITC, Plans to construct a tower for its new office as well as act as an International Business Complex

20

NITC Oil Trade & Shipping Center

21