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The government in Iran announced plans to unload 40 percent of its stake in the state-controlled Iranian Oil Terminals Co. to the private sector.
Ali Kardour, the head of a national privatization working group, said the transfer was part of a national plan to expand oil storage facilities, the Mehr News Agency reports
Petroleum Intelligence Weekly ranks NIOC as the world's second largest oil company, after Saudi Arabia's state-owned Aramco.
Head of the National Iranian Oil Company (NIOC) Seifollah Jashnsaz said in May that Iran's oil production has passed 4.3 million barrels per day.