NIC JSC

Feb 1 • Companies • 1445 Views • No Comments on NIC JSC

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Name: NIC JSC

Industry: Petroleum

Company in Brief: Established in 1982, listed in MSE in 1993. “NIC” is the largest oil import and distribution company in Mongolia. The company’s principal business is the importation, distribution, and marketing of gasoline, diesel, aviation fuels, gas oil and lubricants. NIC is the only company with a national distribution network of storage terminals and distribution facilities, including 19 major regional storage depots and 400 retail outlets. NIC has a presence in each of the country’s 21 provinces and more than 300 sub-regions. In addition, three petroleum supply depots, which are fully operational, are currently under conservation. NIC also maintains representative offices in Moscow and Irkutsk.

NIC imports refined petroleum products to 7 principal storage terminals and distributes them by rail and truck to aimag supply terminals and depots. Mongolia currently possesses no domestic refining capacity. Thus, all of the country’s oil consumption consists of imported refined products, almost all of which currently and historically from Russia. The country has begun to diversify its sources of supply by purchasing oil from China and by beginning to build the infrastructure necessary to transport significant quantities of Chinese imports. Currently, providing about 6% of domestic consumption, China is likely to become a more important source of supply in the future. Bigger competitors are Magnai Trade LLC, Sod Mongol LLC, Shunkhlai Group, Just Oil LLC, Petro Jump LLC. Now, the company has a five branches and 1068 employees.

History:

Year 2005

In 2005, Mongolian Government decided to privatize NIC JSC into public. And Petrovis company bought NIC JSC’s 80 percent on this deal. The Petrovis holds 17,401,707 shares, or 83.06% of the total of 20,950,960 shares of NIC. The remaining 3.549.253 shares, or 16.94% of the shares, are privately owned and traded on the Mongolian Stock Exchange. Total number of shareholders decreased by 2878 and became 22050 since 2006. “Petrovis” Co.,Ltd is a private company with limited liabilities, established in 2007. The main activities of the company are import and wholesale and retail distribution of petroleum products.

After buying NIC, Petrovis became the biggest in the oil import market of Mongolia. The merge of the two giants take the leading opportunity to Petrovis NIC is working profitable due to former management change and cost decrease. The Petrovis has a branches almost all soums of Mongolia.

Chief Executive Officer: Ch.Davaanyam

Chief Financial Officer: N/A

Chief Operating Officer: N/A

TOP 100 Rank:9

Address: Mongolia, Ulaanbaatar, Prime Minister Amar Street-8

Tel: 976 11 330606, 330909,330808,323800, 327051

Fax: Fax:+976 11 320426, 314012

Website: www.petrovis.mn

NIC in business-mongolia.com

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