Pars Oil Company

What Pars Oil Company does

Pars Oil Company (شرکت نفت پارس) is the first private-sector lubricant manufacturer in Iran, established in 1959 with operations headquartered in Tehran and a refinery at kilometer 19 of the Karaj Special Road. The company produces a comprehensive portfolio across nine product categories—gasoline engine oils, diesel engine oils, industrial oils, automotive gear oils, coolants/antifreezes, greases, marine oils, byproducts, and specialty formulations—covering more than 60 SKUs under the "Pars" trade name plus a premium "Flowmax" sub-brand. Underlying technology rests on solvent extraction refining of lubricant feedstocks into Group I base oils (SN-150, SN-500, SN-650), supplemented by specialty synthetic formulations using PAO and PAG base stocks and additive packages for demanding applications including TGDI engine protection against LSPI, fire-resistant hydraulic fluids, high-temperature bentonite-thickened greases, and marine cylinder oils for high-sulfur heavy fuels.

Pars Oil sells to three primary segments—passenger vehicle owners, commercial transportation operators, and industrial manufacturing enterprises—through an extensive network of authorized dealers and authorized representatives across Iran for retail volume, alongside a dedicated sales and market development division handling direct sales to enterprise and government customers via an electronic customer services portal (sales.parsoilco.com) and tender system (مناقصه و مزایده). Industrial and OEM-grade offerings hold multiple international certifications (ISO 9001, 14001, 45001, 50001, IATF 16949, ISO 10002, ISO 10004) and approvals from Volvo, MAN Truck & Bus, Siemens, Voith, and Winterthur Gas & Diesel.

The company has been listed on the Tehran Stock Exchange since 1962 under the ticker "Shenft" (شنف). Ownership is concentrated among institutional investors, with Pars Oil and Gas Industry Development Company holding 49.02%, Tadbir Investment Company 18.44%, and the National Investment Company of Iran 15.02% of shares; the remainder is dispersed. A 1961 technical partnership with Shell Middle East seeded initial additive know-how, additive standards, and specialist training. The company employs 1,001–5,000 people across headquarters and production operations.

Name

Pars Oil Company

Legal name

Pars Oil Company (شرکت نفت پارس)

Website

https://parsoilco.com

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Pars Oil Company, founded in 1959, is Iran's oldest private lubricant manufacturer producing engine oils, industrial oils, greases, coolants, marine oils, and specialty lubricants for automotive, commercial, and industrial customers via an authorized dealer network and direct industrial sales.

Ownership category

akta.pro rank

Product category

Industrial Lubricants

NAICS

Petroleum Lubricating Oil and Grease Manufacturing (324191), Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720)

SIC

Petroleum Refining (2911), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Lubricant Formulation & Blending (Finished Lubricants) (EUALAJAC)

akta.pro secondary industries

Automotive Lubricants (PCMO, HDMO, ATF, Gear Oils, Coolants) (EUALAJAH), Industrial Lubricants (Hydraulics, Gear, Compressor, Turbine, Metalworking) (EUALAJAG), Base Oil Production & Supply (Group I–V, Re-refined) (EUALAJAA), Marine & Offshore Lubricants (Cylinder Oils, System Oils, EALs) (EUALAJAI)

Keywords

• Lubricant manufacturing
• Engine oils
• Industrial lubricants
• Automotive greases
• Marine lubricants

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Lubricant Manufacturing and Sales: Pars Oil Company manufactures and sells a comprehensive range of lubricant products including engine oils (petrol and diesel), industrial oils, gear oils, greases, coolants, marine oils, and specialty products. Products are sold through authorized dealers, distributors, and direct sales to industrial customers.
2. Base Oil and Specialty Products: Production and sale of base oils (SN-150, SN-500, SN-650), paraffin wax, slack wax, rubber process oils, and other petroleum by-products to industrial customers.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Pars Oil Company is Iran's first private lubricant manufacturer, operating a refinery at kilometer 19 of Karaj Special Road. The company manufactures and sells a comprehensive portfolio of lubricant products including gasoline and diesel engine oils, industrial oils (transformer, turbine, compressor, hydraulic), automotive gear oils, greases, antifreeze/coolants, marine oils, and petroleum byproducts such as base oils and slack wax. Products are sold under the Pars brand and the premium Flowmax sub-brand through authorized dealers and direct industrial sales channels.

Product overview

Pars Oil Company (شرکت نفت پارس) is a lubricants and petroleum products manufacturer established in 1959, operating Iran's first private lubricant refinery. The company offers a comprehensive portfolio organized across nine product categories: gasoline engine oils (Pars Top Class, Pars Class, Pars Super Payar Plus, Pars Super Payar, Pars Payar, Pars Aras, Pars Tizro, Pars Super Jam, Pars Two-Stroke Special), diesel engine oils (Pars Super Mazda, Pars Super Pishran, Pars Super Paydar Ultra, Pars Super Paydar, Pars Paydar, Pars Diesel Tabar Special, Pars Super Arvand Diesel, Pars Locomotive, Pars Generator Special, Pars Gas Special, Pars Bastan), industrial oils (Pars Transformer U-N, Pars Compressor G/S/1053/P, Pars Turbine EP, Pars Turbine, Pars Bearing, Pars Hydraulic HFDU/ZF/Automatic, Pars Babak/Babak Special, Pars Keyvan, Pars Rock Drill, Pars Rolling, Pars Quenching, Pars Heat Transfer, Pars Flushing, Pars Chain SHT-PAO, Pars Cutting Oil), automotive gear oils (Pars Medous EP/APS/Standard, Pars Automatic Transmission ATF III/II), coolants/antifreezes (Pars Yakhssar, Pars Sahand/Sahand NF/Sahand Power Plant), greases (Pars Lithium/Lithium EP/Lithium MDS, Pars Mahan Complex, Pars Lithium Complex EP, Pars Chassis Plus, Pars Calcium Complex/Sulfonate Complex, Pars Aluminum Complex, Pars Fiber, Pars Kouhin/Benton, Pars Kouhin SHC/Fire-resistant), marine oils (Pars Wave XL, Pars Ocean, Pars Wave, Pars Launch, Pars Darya, Pars Wave X), and byproducts/specialty products (Slack Wax, Paraffin, Base Oils SN-150/500/650, Extracts, Rubber Oil, Foot's Oil). The company also operates a premium sub-brand called Flowmax (فلومکس) for higher-performance synthetic products.

Differentiator

Problem solved

Functional benefit

Brands

• Flowmax: A sub-brand of Pars Oil Company producing engine oils, including Flowmax Mega Tech, Flowmax HIGH TECH, Flowmax ULTRA TECH, Flowmax ECO products
• Pars Class
• Pars Top Class

Products and services

• Pars Top Class
• Pars Super Paydar
• Pars Turbine EP
• Pars Transformer U-N
• Pars Hydraulic HFDU
• Pars Automatic Transmission III (ATF III)
• Pars Yakhssar
• Pars Lithium Grease
• Pars Wave XL
• Base Oil SN-150/SN-500/SN-650
• Flowmax (Premium Sub-brand)
• Slack Wax

Quantifiable outcome

• Listed on Tehran Stock Exchange since 1962, demonstrating long-term financial stability and transparency

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Shell (Historical Partnership)coreTechnology or Integration · 1 January 1961In 1961 (1340 Solar Hijri), Pars Oil Company entered into a partnership agreement with Shell Middle East Markets (شركت شل ماركتس خاورميانه). Under this agreement, Pars Oil's refinery produced lubricants and greases using additives approved by Shell experts. Shell experts were also sent to Iran to train local specialists in advanced lubricant manufacturing technology. This partnership helped establish Pars Oil as Iran's first lubricant producer meeting international standards.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Behran Oil Company: Major Iranian lubricant and base oil manufacturer with a broad automotive and industrial product portfolio, competing head-on with Pars Oil in both retail and B2B channels within Iran.
• Sepahan Oil Company: Iranian producer of industrial and automotive lubricants, engine oils, and greases. Comparable product mix and customer base, serving Iranian industrial, automotive, and agricultural segments.
• Iranol Company: Iran's largest state-owned lubricant manufacturer, producing engine oils, industrial oils, greases, and base oils. Directly competes with Pars Oil across all major lubricant categories in the Iranian domestic market.

Broad incumbents

• FUCHS PETROLUB SE: German specialty lubricants manufacturer serving automotive, industrial, and food-grade applications. Comparable to Pars Oil in industrial lubricants, specialty greases, and high-spec OEM-approved products.
• Castrol (BP): Global lubricant brand owned by BP, with deep presence in automotive engine oils and industrial fluids. A direct reference competitor in retail and B2B lubricant categories where Pars Oil also competes.
• Lukoil Lubricants: Major vertically integrated lubricants producer with branded engine oils, industrial oils, and base oils. Comparable business model to Pars Oil, combining base oil manufacturing with finished lubricant blending and branded sales.
• TotalEnergies Lubrifiants: Global broad-line lubricant manufacturer offering engine oils, industrial lubricants, and greases. Competes with Pars Oil for industrial and fleet customers, particularly in premium and OEM-approved segments.
• Shell Lubricants: Global lubricants leader with a full automotive, industrial, and marine product range. Historically partnered with Pars Oil and remains a reference competitor for premium synthetic and additive technology benchmarks in Iran.
• ExxonMobil Product Solutions: Mobil-branded global lubricants business with extensive industrial, automotive, and marine product lines. Comparable to Pars Oil across categories, especially in industrial and marine applications.

Emerging players

• Indian Oil Corporation (Servo): Indian state-owned integrated oil company with a growing Servo-branded lubricants business covering automotive, industrial, and marine applications. Comparable product breadth to Pars Oil and a relevant regional competitor for any Middle East export ambitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pars Oil Company