Several months ago, Fidus drew significant attention by exposing widespread corruption in Pasargad Oil Company, the largest bitumen producer in Iran and the Middle East. Now, with the dismissal of Amir Hossein Bagheri-Baygi from the CEO position of this company, unanswered questions regarding the fate of suspicious export amounts and related cases have arisen in the minds of shareholders and public opinion.
The Fate of the 29 Million Dollar Amount
Investigations reveal that in one of last year's export transactions, two foreign companies named ZYKO and DSMART purchased about 110,000 tons of bitumen from Hormoz Pasargad Company; however, more than 29 million dollars from the claims of this transaction has yet to return to the company's financial cycle. This issue is not merely a commercial debt, but it appears that the sale of bitumen was conducted without obtaining permission and the signature of the board of directors.
Additionally, the shipments to Grand Petro Company, which is associated with Amir Hossein Shahidi, the former export manager of Pasargad Oil, were sold at a rate lower than the conventional market prices. This situation raises very serious questions regarding the transparency and financial integrity of the company and requires immediate and serious responses from the authorities.
