June 30, 2018

Iran Saves $5.4bn with Major Condensate Refinery

Inauguration of phases I and II of Bandar Abbas Gas Condensate Refinery has so far saved Iran over 5.4 billion dollars by preventing currency flight. The CEO of the National Iranian Oil Refining & Distribution Company (NIORDC) said ever since inauguration of the project’s first phase back in April 2017, the plant has prevented exit […]
June 30, 2018

Iran’s capacity of generating electricity from renewables hits 581MW

TEHRAN- The capacity of generating electricity from renewable resources has reached 581 megawatts (MW) in Iran, ILNA reported on Friday.
June 30, 2018

Iran, Belarus discuss transportation co-op

TEHRAN- Iran’s Ambassador to Belarus Mustafa Oveisi and Belarusian Minister of Transport and Communications Anatoli Siwak discussed development of transportation ties in Minsk, IRNA reported on Friday.
June 29, 2018

460 foreign companies attending Agrofood 2018

TEHRAN- The 25th International Exhibition of Food, Food Technology and Agriculture of Iran (Agrofood 2018) became operational on Friday with participation of 460 foreign and 760 domestic companies at the Tehran Permanent International Fairgrounds, IRIB...
June 29, 2018

Iran’s oil exports to Asia hit 8-month high

TEHRAN-Iran’s exports of crude oil to major Asian customers in May rose to the highest in eight months, government and ship-tracking data showed.
June 29, 2018

Rouhani inaugurates major gasoline production unit

TEHRAN – The second phase of Iran’s Persian Gulf Star Refinery (PGSR), which was inaugurated by President Hassan Rouhani on Thursday, adds 12 million liters of Euro-5 quality gasoline to the country’s total output of the product.
June 29, 2018

NIDC Drills 43 Oil, Gas Wells in Q1

The National Iranian Drilling Company (NIDC) completed drilling of 43 oil and gas wells over the course of the first three months of the current Iranian calendar year which began on March 21. Hamidreza Khoshyand, deputy managing director of NIDC, said the wells were spudded in offshore and onshore projects across Iran. He also said […]
June 29, 2018

Afghanistan wants Chabahar Port Exempted from Sanctions

Afghanistan Wants Iran’s Chabahar Port Exempted from US Sanctions An Afghan Foreign Ministry spokesperson called on the US administration to exempt Iran’s southeastern port city of Chabahar from a new wave of economic sanctions against the Islamic Republic. In comments on Saturday, Sebghatullah Ahmadi, head of the press department at Afghanistan’s Ministry of Foreign Affairs, […]
June 28, 2018

Inflation rate at 9.4%: CBI

TEHRAN- The Central Bank of Iran (CBI) announced that the inflation rate in the twelve-month period ended on the last day of the third Iranian calendar month of Khordad (June 21) stood at 9.4 percent, IRNA reported.
June 28, 2018

Persian Gulf Star Refinery’s 2nd phase to come online today

TEHRAN – The second phase of Iran’s Persian Gulf Star Refinery (PGSR), which is hailed as the Middle East’s largest gas condensate processing complex, is going to be inaugurated officially today, Tasnim news agency reported.
June 28, 2018

Iran’s 5-month crude steel output up 24% yr/yr: WSA

TEHRAN- Production of crude steel in Iran stood at 10.142 million tons during the first five months of 2018, indicating 24.3 percent rise from 8.162 million tons in the same period of time in 2017, according to World Steel Association (WSA).
June 28, 2018

Japan, S.Korea seeking waivers from U.S. sanctions on Iran’s oil

TEHRAN – As Iran’s two major oil buyers, Japan and South Korea are in talks with the U.S. in order to get waivers over U.S. sanctions on Iran for buying crude oil from the country.
June 28, 2018

Iran, Uzbekistan to improve energy, modern industries co-op

TEHRAN- In a meeting between Uzbekistan Foreign Trade Minister Jamshid Khodjaev and Iranian Deputy Industry Minister Mansour Moazzami in Tehran, the two sides underscored the vitality of developing mutual ties in energy and modern industries sector, th...
June 28, 2018

How Many Iranians Have Filed a Patent in the United States?

A report by Iran National Science Foundation (INSF) indicates that over one thousand Iranians have applied through this agency to file a patent in the United States.

The post How Many Iranians Have Filed a Patent in the United States? appeared first on TechRasa.

June 28, 2018

Will Iran’s Economy Collapse?

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Turbulent developments in the past few months on the foreign exchange and gold markets in Iran and the government’s failure to manage runaway prices has compelled some economists to start using the term “bubble […]
June 28, 2018

Iran to sign Power Deal with Georgia

The CEO of the National Iranian Gas Company (NIGC) said the company was preparing an electricity contract to sign with Georgia for export of 10% of the power it receives from Armenia in exchange for natural gas. Speaking to Shana, Hamid Reza Araqi said NIGC had earmarked 10% of the gas it receives from Armenia […]
June 28, 2018

Iran to Launch Secondary Currency Market

Governor of the Central Bank of Iran (CBI) Valiollah Seif announced that the country plans to establish a secondary currency market in coming days as the Iranian rial has plunged to an all-time low against the US dollar. Speaking to reporters on the sidelines of a meeting with parliamentarians in Tehran on Monday, Seif said […]
June 28, 2018

Iran’s Calendar in dire need of Reform

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Last month, Iran’s education minister said he intends to create a two-week “winter holiday” before the new Iranian school year starts this fall. In exchange, students will start their academic year two weeks earlier. The goal is […]
June 27, 2018

‘Cutting Iran’s oil from market by Nov. impossible’

TEHRAN- Eliminating Iran’s oil from the global market by November as demanded by the U.S. is impossible, an Iranian oil official told Tasnim news agency on Wednesday.
June 26, 2018

An Integrated Approach for Iraq/Iran Border Fields

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. An Integrated Approach for Investment in Joint Development-Unitization for Iraq/Iran Border Petroleum Fields & Exploration Blocks This article provides brief note in panel discussion and abstract of a keynote PowerPoint presentation prepared […]