Since 1951, National Iranian Oil Company (NIOC) has been directing and making policies for exploration, drilling, production, research and development, refining, distribution and export of oil, gas, petroleum products. NIOC, with a vast amount of oil and gas resources, is one of the world’s largest oil companies. At the present time, it is esti – mated that the company holds 156.53 billion barrels of liquid hydrocarbons and 33.79 trillion cubic meters of natural gas. With advances in technology and increasing complexities of economic and political relations, NIOC has risen to a privileged status. Therefore, national and regional policies and cooperation with industrial countries in the provision in the supply of energy and stabilizing global oil markets are on the agenda of NIOC. On the verge of the fourth decade of the Islamic Revolution, oil industry workers have every reason to be proud of their achievements before the noble people of Iran, and they pride themselves on having learned the lessons of self-assurance and dignity. NIOC, in accordance with Article 44 of the Constitution, gives authority to different sectors, while supervising oil industry activities. The company has taken major steps toward establishing business enterprises, funded financial resources for development, helped to update technologies for exploration, drilling and production with reliance on the knowledge of Iranian experts.