• 1966

  MFL was incorporated on December 8

  MFL was incorporated on December 8, 1966 as a joint venture between GOI and AMOCO India

• 1972

  NIOC acquired 50% of the shareholding

  In accordance with the participation agreement between GOI, AMOCO and National Iranian Oil

• 1985

  AMOCO and NIOC were at 24.5%

  With this acquisition, shareholding of AMOCO and NIOC were at 24.5% each, with the balance 51%

• 1994

  GOI and NIOC Shares 67.55% and 32.45% respectively

  As a result, GOI and NIOC shareholding was revised to 67.55% and 32.45% respectively

• 1997

  MFL had an initial public offering of its shares

  MFL had an initial public offering of its shares in May 1997. 

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