September 15, 2017

Plane purchase deals unfazed by Congress vote, Iran says

TEHRAN - The recent voting of the U.S. Congress to block sales of commercial aircraft to Iran will have no effect on the plane purchase deals already signed by Iran and international companies, head of the Civil Aviation Organization of Iran Ali Abedzadeh said on Friday.
September 15, 2017

Plane purchase deals unfazed by Congress vote, Iran says

TEHRAN - The recent voting of the U.S. Congress to block sales of commercial aircraft to Iran will have no effect on the plane purchase deals already signed by Iran and international companies, head of the Civil Aviation Organization of Iran Ali Abedzadeh said on Friday.
September 15, 2017

Crude Oil Production at Azar crosses 4m Barrels

Iran’s production of crude oil at Azar Oilfield, shared with neighboring Iraq, has exceeded 4 million barrels, operator of the field says. Behzad Mohammadi, managing director of Oil Industries’ Engineering and Construction (OIEC), told a meeting of representatives of Iranian E&P companies in Tehran on Wednesday, said production of the fields has been fixed at […]
September 15, 2017

Ukraine eyes Boosting Agricultural Trade with Iran

A Ukrainian official said the country’s Agrarian Policy and Food Ministry expects Kiev’s agricultural trade with Tehran to increase to $1 billion by the end of 2017. Vasyl Antonenko, the chief specialist of the bilateral trade and economic cooperation department of the International Cooperation Department of Ukraine’s Agrarian Policy and Food Ministry, said this during […]
September 15, 2017

Iraq sends Envoy back to Iran with Little to Show

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Ayatollah Mahmoud Hashemi Shahroudi, the newly appointed chairman of Iran’s Expediency Council, visited Iraq recently, fueling speculation about his political agenda. His meetings indicate that he most likely was seeking to unify Shiites ahead […]
September 15, 2017

Ilam Petchem Plant to Launch SRU Unit by Year-End

Ilam Petrochemical Plant is banking on inauguration of its sulfur recovery unit (SRU) by the end of the current calendar year to March 20, the managing director of the facility said. Farhad Daneshi said the facility is now building two units which are olefin and SRU of which the latter will come online before the […]
September 15, 2017

Iran, Iraq Begin Arrangements for Arbaeen Pilgrimage

The Iraqi embassy and consulates in Iran on Monday started to issue visa for the Iranian applicants intending to visit the Arab country for Arbaeen pilgrimage. The formal visa-issuance process kicked off during a ceremony at the Iraqi embassy in Tehran, attended by Ambassador Rajih Sabir Aboudi al-Mousavi. In addition to the Iraqi embassy, the […]
September 14, 2017

Iran Cracks Down on IRGC Business Network

The Financial Times reports that Iran’s Revolutionary Guards Corps (IRGC) is being forced to shrink its sprawling business empire, and some of its senior members have been arrested as part of President Hassan Rouhani’s attempts to curb the elite force’s role in the economy. A regime insider and a government official told the newspaper that […]
September 14, 2017

Video: UN Nuclear Watchdog Defends Iran Deal

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The UN atomic watchdog hits back at US criticism of the Iran nuclear deal, insisting its inspections there are the world’s toughest and that Tehran is sticking to the accord.
September 14, 2017

Shell, NIOC discuss Gas Field Development

Anglo-Dutch oil giant Shell met with officials from the National Iranian Oil Company (NIOC) to discuss the development project of Iran’s Kish gas field. A delegation from Shell headed by Hand Nijkamp, Shell’s VP in Shell Upstream International, Middle East and North Africa, met with Gholamreza Manouchehri, deputy for development and engineering at NIOC, and […]
September 14, 2017

Russia lends €1.2bn for Iranian Power Plant

By John Lee. Russia’s state-owned Vnesheconombank (VEB) has reportedly agreed to lend Iran’s Bank of Industry and Mines €1.2-billion over five years for the development of the  1,400-MW Hormozgan thermal power plant. According to PressTV, Russian President Vladimir Putin said in February that Moscow would grant a total of €2.2 billion to Iran for two […]
September 14, 2017

Mercedes-Benz, Iran Khodro to Launch Joint Venture

Representatives of Iranian automobile manufacturer Iran Khodro Company (IKCO) and the German automaker Mercedes-Benz signed a contract to launch a joint venture. According to the contract signed in Germany on Tuesday, the two firms will establish a joint company working in the field of sales and after-sales service of commercial vehicles. IKCO and Mercedes-Benz, which […]
September 14, 2017

Iran to Repair Syria’s Power Grid

Iran has signed a memorandum of understanding (MoU) with Syria to repair the Arab country’s power grid, a report said. The agreement was signed on Tuesday during a visit by Syria’s electricity minister to Tehran, SANA news agency reported. According to the terms of the deal, Iran will build a power plant in Syria’s coastal […]
September 14, 2017

Foreign trade delegations flock to Iran Plast 2017 expo

TEHRAN – At least nine foreign trade delegations from different countries will be visiting Iran Plast 2017 exhibition in Tehran, Shana reported on Wednesday quoting the event’s organizer.
September 14, 2017

Foreign trade delegations flock to Iran Plast 2017 expo

TEHRAN – At least nine foreign trade delegations from different countries will be visiting Iran Plast 2017 exhibition in Tehran, Shana reported on Wednesday quoting the event’s organizer.
September 14, 2017

Kiev hosting exclusive exhibition of Iranian products

TEHRAN – Ukraine’s capital is hosting the second exclusive exhibition of Iranian products called Iran Export Fair 2017 from September 12 to 15, IRNA reported.
September 14, 2017

Kiev hosting exclusive exhibition of Iranian products

TEHRAN – Ukraine’s capital is hosting the second exclusive exhibition of Iranian products called Iran Export Fair 2017 from September 12 to 15, IRNA reported.
September 14, 2017

Iran exports 280,000 tons of fuel oil to Singapore

TEHRAN – Iran has exported 280,000 tons of fuel oil in September to Singapore, Reuters reported citing ship tracking data in Eikon.
September 14, 2017

Iran exports 280,000 tons of fuel oil to Singapore

TEHRAN – Iran has exported 280,000 tons of fuel oil in September to Singapore, Reuters reported citing ship tracking data in Eikon.
September 14, 2017

Over 37,000 passenger cars imported in 5 months

TEHRAN- Iran imported 37,623 passenger cars during the first five months of the current Iranian calendar year (March 21-August 22), according to the Islamic Republic of Iran Customs Administration (IRICA).