In 1925, the first Mongol-Soviet joint petroleum stock and transportation company, named "Sov Mon Trans", was established in Mongolia. On February 28.1941, the Mongolian government purchased the company from Russia forming the first Mongolian petroleum company, which ultimately became "NIC" JSC in 1994. On March18, 2004, "Petrovis" Co., Ltd won in the tender announced by State Property Committee and took over 80% of "NIC" shares, previously owned by the Government of Mongolia at the price 8.5 million MNT. At present, NIC holds55% of the domestic market of refined petroleum products and partakes in 61% of total petroleum imports.

 

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NIC’s principle business is the importation, distribution, and marketing of gasoline, diesel, aviation fuels, gas oil, lubricants, liquefied petroleum gas, and the supply of petroleum related equipment, and machinery in addition to research and development. "NIC" JSC, now a subsidiary of "Petrovis" Co., Ltd, has 1,068 employees. The company is the only fuel company with a national distribution network of storage terminals and distribution facilities, including 19 major regional storage depots, 441 gas stations, 32 depots. "NIC" JSC has branches in each of the country's 21 aimags and more than 300 soums. In addition, three petroleum supply depots, which are fully operational, are currently being overhauled. The company also maintains representative offices in Moscow and Irkutsk.

At present, "Petrovis" Co., Ltd is working to modernize "NIC" JSC into the best Mongolian Petroleum Company, within all standards and requirements, by eliminating present errors and insufficiencies of the NIC activity, improving technology, environment, service standards, marketing and management of gas stations, and increasing the knowledge, experience and skills of company workers.

The company has been selling public shares since June 30, 1994 with the initial price of 100 MNT per 1 unit of stock.

Ticker symbol-             NIC
Stock Code-                 428
Total issues -              20,950,960 units
Petrovis LLC-              17,401,707 units (83.06%)
Other share-holders-   3,549,253 units (16.94%)

Market capitalization – 14 875 181 600 MNT (as of July 2009)

Source: www.petrovis.mn 

             www.mse.mn