According to Fars News Agency’s economic correspondent, in line with the policy of transparency and prevention of corruption bottlenecks, the government for the first time through the Privatization Organization published the financial statements of some state-owned companies.
One of the state-owned companies, Iranian Oil Terminals Company Whose financial statements will be examined in the continuation of the report.
* Profit and loss of oil terminals company in 1999 under a magnifying glass
Iran Oil Terminals Company is one of the subsidiaries of the National Iranian Oil Company. The subject of the company’s activity is to carry out any operations in order to establish, create and complete facilities and oil terminals necessary to carry out operations for the export and import of petroleum products and provide swap services for crude oil and petroleum products.
In the financial statements of the oil terminals company in 1999, Tables 1 and 2 show the profit and loss statements of this company in 1999 and 1998.
According to these tables, the net and comprehensive profit of this company in 1999 was 4.7 and 5.9 billion tomans, respectively.
Thus, the Iranian Oil Terminals Company in 1999 was not the least unprofitable.
* 33% increase in operating revenues of the oil terminal company in 1999
Table 3 shows the operating revenues of the oil terminal company. According to this table, the amount of 4.35 thousand billion rials of revenues has been to compensate the cost of storage services and oil exports.
The total operating income of this company in 1999 was about 1.2 thousand billion tomans. The operating revenues of the Oil Terminals Company in 1998 had recorded 0.9 thousand billion Tomans. Thus, in 1999, the company’s revenues increased by 33%.
* 100% increase in the revenue of the oil terminal company from providing services to tankers
According to the Oil Terminals Company’s financial statements, 64% of the company’s operating income comes from ship navigation and berthing services.
Table 4 shows the share of each sector in the revenue and guidance services port. As can be seen, the number of operations of this company in the field of “berthing and loading services of tankers”, “ship guidance services” and “motor boat and tugboat services” has increased in 1999 compared to 1998.
The total revenue of the oil terminals company from the three services in 1999 was about 765 billion tomans, which has increased by more than 100% compared to 1998.
According to the explanation of the company’s financial statement, according to the approval of the board of directors of the National Iranian Oil Company, the oil terminals company can receive payment for guidance, berthing and separation services of tankers based on the approved exchange rate or its Rial equivalent according to the exchange rate announced by the Central Bank. Take action on the day of mooring.
The reason for the increase in Rial revenue was due to the increase in berthing and guidance services for oil tankers, mainly due to the increase in the number of services as well as the increase in the exchange rate announced by the Central Bank.
* 36% increase in administrative and general expenses of the oil terminal company
Table 5 shows the details of the administrative and general expenses of the oil terminal company. According to this table, the net total expenses of the company in 1999 were about 398 billion tomans. This figure was about 293 billion tomans in 1998, which has experienced a growth of 36%.
Therefore, the report of Fars News Agency in the past in a series of reports examined the financial statements of oil companies in 1999, which can be seen in the following link:
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