Petroleum'S Ministry of IRAN  

NATIONAL IRANIAN OIL COMPANY 
CONSOLIDATED BALANCE SHEET
AS OF MARCH 20/2003

Figures: Billion Rials
  MARCH 20/ 2003 MARCH 20/ 2002
Note
 		 N.I.O.C.
 

Consolidated Figuers

N.I.O.C.
 

Consolidated Figuers
Non – Current Assets          
Tongible Fixed Assets 3 194,476   261,252   56,094    67,360   
Long - Term investments 4 29,123   19,433   25,245    12,974   
Other Assets   -    279   -    176   
Total Non - Current Assets   223,599   280,964   81,339    80,510   
Current Assets          
Pre Payments 5 1,029    4,615    272    2,030   
Goods & Materials inventories 6 863    7,617    707    6,144   
Notes & Accounts Recievable 7 22,184    38,484    21,440    22,543   
Affiliated Companies In Process of Cession 8 113    113    113    113   
Debtors – Oil Customers 9 14,283    14,283    2,289    2,289   
Cash & cash equivalents 10 3,820    16,462    2,614    16,018   
Total  of Current Assets   42,292    81,574    27,435    49,137   
Current Liabilities      
Notes & Accounts Payable 11 13,251    24,236    5,439    12,984   
Government Current Account (General Treasury) 12 14,283    14,283    2,289    2,289   
Pre - Receipts 13 0    513    905    493   
Tax Allowance 14 17    460    179    350   
Total  Of Current Liabilities   27,551    39,492    8,812    16,116   
Net Of Current Assets and Liabilities   14,741    42,082    18,623    33,021   
    238,340    323,046    99,962    113,531   
Long Term Liabilities          
Governmental Credits 15 6,607    25,398    7,045    7,045   
Buy – Back  Financial Commitment 16 34,986    6,067    21,374    21,374   
Central Bank of I.R.I Loans 17 25,398    34,986    24,053    24,053   
Labour Retirenment Bonus Reserve   2    424    2    2,273   
Other Long Term Liabilities 18 0    17,474    0    2,172   
Total Long Term Liabilities   66,453    84,349    52,474    54,917   
Owner's Equity          
Capital 19 22,449    22,449    11,111    11,111   
Paid on Account for Capital increase 20 15,173    15,173    18,628    18,628   
Credits for Buy– Back Projects 21 7,085    7,085    2,378    2,378   
Legal Reserves 22 384    649    271    276   
Other Reserves 23 20,597   21,616    15,100    26,274   
Fixed Assets Revaluation Reserve 23 106,199    164,151    -    -   
Retained Earning (loss) 24 -    7,574    -    (53)  
Total Owner's Equity   171,887   238,697   47,488    58,614   
Total Liabilities   238,340    323,046    99,962    113,531   

The Notes from no (1) to no (35) are integral parts of the Financial Statements