October 4, 2017

Lukoil, NIOC sign MoUs on Caspian Sea Oil Project

The National Iranian Oil Company (NIOC) and Russian energy giant, Lukoil, have signed two MoUs for carrying out geological studies on oil projects in the Caspian Sea. The documents were signed in Moscow in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh and Lukoil Managing Director Vagit Alekperov in Moscow […]
October 4, 2017

Iran Eyes Petchem Deal with Total in a Month

Iran is about to sign a petrochemical deal with French energy major Total by November, a petrochemical official said. Director of investment at the National Petrochemical Company (NPC), Hossein Alimorad, said the Persian Gulf Petrochemical Industries Company (PGPIC) is about to sign a contract with Total to carry out economic studies on a petrochemical project […]
October 4, 2017

Iran Replaces Iraq as Biggest Crude Oil Exporter to Turkey

By John Lee. Turkey’s imports of crude oil from Iran have increased 142 percent in the first seven months of 2017, from 3 million tons to 7.4 million tons, making it the country’s biggest supplier of crude. According to the report from Daily Sabah, Iraq‘s crude oil exports to Turkey decreased 20.5 percent from 5.4 […]
October 4, 2017

Oil Minister has Big Plans for likely Last Term

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. Bijan Namdar Zanganeh, the most experienced minister in the Islamic Republic of Iran, has yet again been entrusted with one of the most challenging portfolios in the Hassan Rouhani administration: the Ministry of Petroleum […]
October 4, 2017

68 Tons of Illicit Drugs Seized in SE Iran in 6 Months

Iran’s anti-narcotics police forces have managed to capture 68 tons of illicit drugs in the southeastern province of Sistan and Balouchestan during a six-month period, the provincial police chief announced on Monday. Speaking to the Tasnim News Agency, Brigadier General Mohammad Qanbari said during the first six months of the current Iranian year (which began […]
October 4, 2017

An Iranian Bank Has Invested over 26 million Dollars on Startups

Apparently Iranian banks have decided to get more engaged with the country’s startup scene. According to an Iranian official, over 100 billion Tomans (26 million dollars) has been invested in knowledge-based or startup companies by an Iranian bank.

The post An Iranian Bank Has Invested over 26 million Dollars on Startups appeared first on TechRasa.

October 4, 2017

Tehran hosting intl. wood industry expo

TEHRAN - The second edition of Iran’s International Exhibition of Machinery, Equipment, Accessories and Raw materials of Wood Industry kicked off on Tuesday at Shahr-e-Aftab International Exhibition Center in Tehran, IRIB news reported.
October 4, 2017

Iran’s H1 non-oil trade up 6% yr/yr

TEHRAN- Iran’s non-oil trade during the first half of the current Iranian calendar year (March 21-September 22) hit $44.139 billion, a six percent rise from $41.674 billion in the same time span of the past year, Tasnim reported citing Islamic Republic of Iran Customs Administration (IRICA).
October 4, 2017

NDF to grant $2b to exports sector

TEHRAN- "Iran’s National Development Fund (NDF) will allocate $2 billion to the exports sector,” Finance Minister Masoud Karbasian was quoted on Tuesday by the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) as saying.
October 3, 2017

TCCIMA opens office in London

TEHRAN – In a ceremony on Monday, Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) inaugurated its office in London, the TCCIMA portal reported.
October 3, 2017

Total adheres to Iran gas field deal opposing Trump threats

TEHRAN – Total’s Chief Executive Patrick Pouyanné said his company plans to continue developing Iran’s South Pars gas field despite the U.S. threats to blow the nuclear deal.
October 3, 2017

Datis Co. resolves Volvo’s after-sales service problems in Iran

TEHRAN – Milad Alinaghi, CEO of Datis Khodro, as the only standard Volvo repair service provider in Iran, announced that the Volvo's after-sales service problems has been resolved for Iranian customers.
October 3, 2017

Iran’s position in WEF’s competitiveness ranking notches up

TEHRAN- According to “The Global Competitiveness Report 2017–18”, published by the World Economic Forum (WEF), Iran’s competitiveness index has improved seven places from its previous rank in the preceding year, IRIB news reported on Monday.
October 3, 2017

Minerals, mining exports at $3.6b in 5 months

TEHRAN- Iran’s minerals and mining exports stood at 26 million tons worth $3.6 billion during the first five months of the present Iranian calendar year (March 21-August 22, 2017), IRNA reported on Monday.
October 3, 2017

FDI in industry, mining sectors to rise 10-fold by 2021

TEHRAN – Iran expects a 10-fold increase of foreign direct investment (FDI) in industry and mining sectors by the end of the Sixth Five-Year National Development Plan (2016-2021).
October 3, 2017

Iran targets 1bcf output for Kish gas field’s 1st phase

TEHRAN – A daily production of 1 billion cubic feet has been put on agenda for the first development phase of Iran’s Kish gas field which is to be developed based on the country’s new contract models, ISNA reported on Monday.
October 3, 2017

US “Unable to Stop Irans Oil Exports”

If the US reimposes sanctions on Iran’s oil sector without the support of Europe, China and Russia, it will see grudging and uneven compliance by international energy companies and will not be able to stop crude flows that returned to the market in 2015, according to sanctions expert Elizabeth Rosenberg, Platts reported. “Grudging compliance does […]
October 3, 2017

SCOR agrees CAT Excess of Loss Deal with Iran

By John Lee. French-based global reinsurance company SCOR has reached an agreement concerning “CAT excess of loss in Iranian insurance market.” The deal was finalised at a meeting in Paris between Dr. Abdolnaser Hemmati, the President of Bimeh Markazi Iran (Central Insurance of IR Iran), and Victor Peignet, Chief Executive Officer of SCOR Global P&C. […]
October 3, 2017

Iran, Turkey Agree to Broaden Military Alliance

The Armed Forces of Iran and Turkey agreed on Monday to promote cooperation in various arenas, as in offering help for the persecuted Muslim people of Myanmar, Chief of Staff of the Iranian Armed Forces Major General Mohammad Hossein Baqeri announced. Speaking at a joint press conference with his Turkish counterpart General Hulusi Akar in […]
October 2, 2017

JCPOA shall continue to stand: MEDEF VP

Iran’s nuclear deal, officially called the Joint Comprehensive Plan of Action (JCPOA), opened gateways for European countries to boost their trade ties with Iran finding a share in its untouched lucrative market. Being implemented in mid-January 2016, JCPOA made European countries race to front of queue to enter various economic sectors in Iran.