August 15, 2018

Germany’s Durion Energy AG to stay in Iran despite U.S. sanctions: CEO

TEHRAN- The CEO of Germany’s renewable energy company, Durion Energy AG, said his company will not stop working in Iran despite the U.S.-led sanctions against the country, Tasnim news agency reported on Wednesday.
August 15, 2018

Non-oil exports from Shahid Rajaee Port rise 2.6% in 4 months yr/yr

TEHRAN- The weight of non-oil exports from Shahid Rajaee Port, in south of Iran, increased by 2.6 percent during the four-month period from March 21 to July 22 of this year compared to the same period of time in the past year, according to the director...
August 15, 2018

‘NITC ready to confront sanctions’

TEHRAN- National Iranian Tanker Company (NITC) is ready to confront the U.S.-led sanctions against the country, the company’s board of directors’ chairman emphasized. Seyed Ahmad Moqimi also said that Iran’s oil export was not stopped even one time du...
August 15, 2018

Iran’s oil production stands at 3.737m bpd in July: OPEC

TEHRAN- According to OPEC’s latest monthly report published on August 13, oil production in Iran stood at about 3.737 million barrels per day (bpd) in July, falling 56,300 bpd from 3.793 million bpd in June, based on secondary sources.
August 15, 2018

IMIDRO’s underway project worth $18b to be completed by March 2021

TEHRAN- The value of projects under implementation by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), which are planned to be completed by the end of the country’s Sixth Five-Year National Development Plan (March 2...
August 15, 2018

Iran welcomes investment by Swiss companies in water, energy projects

TEHRAN – Iranian Energy Minister Reza Ardakanian said Iran welcomes Swiss companies to contribute in the country’s water and energy projects, Iranian Energy Ministry’s news portal, PAVEN, reported.
August 15, 2018

Annual non-oil exports set to reach $50b by March 2019

TEHRAN- Iran’s value of non-oil exports is planned to reach $50 billion in the current Iranian calendar year, which ends on March 20, 2019, according to an official at Trade Promotion Organization (TPO).
August 15, 2018

Iraqi Compliance with Iran Sanctions will “Damage Iraq’s Economy”

By John Lee. A former under-secretary at Iraq’s Ministry of Finance has said that  ministry has said that US sanctions on Iran will impact trade activity between Iraq and Iran and, should they persist, they will damage Iraq’s economy. Fadhil Nabi told Rudaw: “America’s sanctions on Iran will have impact on trade exchange and activity […]
August 15, 2018

Iran Eyes Tripling Flights to Afghanistan

The Head of Iran’s Civil Aviation Organization (CAO) said the country has offered to triple the number of weekly flights to neighboring Afghanistan. According to Ali Abedzadeh, there are now nine direct flights a week between Iran and Afghanistan. Highlighting the need for more flights between the two neighbors, the official said Iran has proposed […]
August 14, 2018

Major steel producers’ output rises 15% in 4 months on year

TEHRAN- Iran’s major steel producers produced 6.286 million tons of crude steel during the four-month period from March 21 to July 22, with 15 percent growth from the figure of the same period of time in the past year, IRIB reported on Monday based on ...
August 14, 2018

‘Russia may ditch dollar in oil trade as it is too risky’

The U.S. dollar is not a reliable tool for payments in international trade, Russian Finance Minister Anton Siluanov told Russian media. Payments in national currencies might be used instead, he said.
August 14, 2018

China’s contribution to Iranian petchem industry unchanged: official

TEHRAN – Iranian National Petrochemical Company (NPC)’s Director for Investment Hossein Alimorad, said Chinese investors’ contribution in the Iranian petrochemical industry has not changed after the U.S. withdrawal from the nuclear deal.
August 14, 2018

China will continue buying Iranian oil despite U.S. sanctions: CPCIF

TEHRAN – The director of the International Cooperation Department at China Petroleum and Chemical Industry Federation (CPCIF) said that China will continue importing Iranian oil despite U.S. sanctions, IRNA reported on Monday.
August 14, 2018

China to US: Ties with Iran Transparent, Lawful

China’s business ties with Iran are open, transparent and lawful, its foreign ministry said on Wednesday, after US President Donald Trump said companies doing business with Iran would be barred from the United States. China has consistently opposed unilateral sanctions and “long-armed jurisdiction”, the ministry said in a statement faxed to Reuters. The United States […]
August 13, 2018

Industry Ministry bans exports of 5 types of goods

TEHRAN- Exports of five types of goods will be ceased due to a recent decision of the Ministry of Industry announced to the Islamic Republic of Iran Customs Administration (IRICA) on Saturday, IRIB reported on Monday.
August 13, 2018

Oil Ministry bans importing certain oil industry equipment

TEHRAN – Iranian Oil Ministry has passed an order to ban the import of 84 items among oil industry equipment which could be produced inside the country, IRIB reported.
August 13, 2018

Iranian private sector gets green light to swap oil products

TEHRAN - Managing director of National Iranian Oil Products Distribution Company (NIOPDC) said necessary measures are being taken for the country’s private sector to take part in swapping oil products, IRIB reported on Saturday.
August 13, 2018

South Pars deal with Total, CNPC unchanged: NIOC director

TEHRAN – The deal with France’s Total and China’s state-owned National Petroleum Corporation (CNPC) for developing phase 11 of Iran’s South Pars gas field is still unchanged, Shana reported on Saturday quoting a senior oil official.
August 13, 2018

‘SMEs should be exempted from paying value added tax for 6-12 months’

TEHRAN- Iranian industry minister said small and medium-sized enterprises (SMEs) should be exempted from paying value added tax for a period of six months to one year, IRNA reported.
August 13, 2018

SEPAM ready to replace SWIFT: CBI deputy director

TEHRAN- Iranian financial telecommunications system, known as SEPAM, is ready to replace the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in the country’s international financial transactions, the Central Bank of Iran’s (CBI) dep...