April 8, 2017

Iran to add 900km to railway network by March 2018

TEHRAN- Iran’s domestic railway system is expected to grow by 900 kilometers by the end of the current Iranian calendar year 1396 (March 20, 2018), the CEO of Construction and Development of Transportation Infrastructures Company announced.
April 8, 2017

Exports from PSEEZ up 22% yr/yr

TEHRAN- The value of exports from Pars Special Economic Energy Zone (PSEEZ), an energy hub in the southern province of Bushehr, rose by 22 percent in the past Iranian calendar year (March 2016-March 2017).
April 8, 2017

Crude steel production up 10% in 11 months

TEHRAN- Iran produced 16.831 million tons of crude steel in the first eleven months of the past Iranian calendar year 1395 (March 20, 2016-February 18, 2017), with 10 percent rise compared to the same time span of 1394.
April 8, 2017

Iran sells all its offshore oil storages post JCPOA

Iran has sold all the oil it had stored for years at sea with the easing of international sanctions in January 2016, Reuters reported citing shipping and oil sources.
April 8, 2017

Iran’s trade balance with U.S. positive in Jan., Feb. 2017

TEHRAN- According to the latest report of American Statistical Association (ASA), Iran-U.S. trade balance tipped in favor of Iran during January and February 2017, due to the sharp fall of the U.S.’ exports to the Islamic Republic.
April 7, 2017

BP to operate joint North Sea field with Iran

BP and Iran's state-run oil company received a license from the U.S. Treasury last year to operate their joint gas field in the North Sea following the lifting of Western sanctions on Tehran, BP said on Thursday.
April 7, 2017

Cabinet Aiming for +700,000 New Jobs This Year

Iran’s President Hassan Rouhani said his administration has formulated plans to create jobs for more than 700,000 young people in the current Iranian year, which began two weeks ago. In a Monday meeting with a group of officials and government staff, President Rouhani said the job creation target will come true by carrying out national […]
April 7, 2017

Rouhani Govt Criticizes IRGC Arrests of Journalists

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Members of President Hassan Rouhani’s Cabinet have publicly criticized the recent arrests of Reformist journalists and online activists on the threshold of a presidential election. “From the beginning, the administration has been opposed to […]
April 6, 2017

Latvia welcomes expansion of transport co-op with Iran

TEHRAN- Latvia welcomes development of its transport cooperation with Iran, Latvian Transport Ministry's State Secretary Kaspars Ozolins said in a meeting with Iranian Deputy Transport Minister Asghar Fakhrieh Kashan in Tehran, IRNA reported on Wednesday.
April 6, 2017

Over 280 companies to attend FINEX 2017

TEHRAN- Over 280 companies will participate in the 10th edition of Iran’s International Exhibition of Exchange, Bank and Insurance (FINEX 2017), Yaser Fallah, director of Iran’s Securities and Exchange Organization’s public relations department, announced, IRIB reported.
April 6, 2017

Crude steel export up 108% in 11 months

TEHRAN- Iran exported 3.225 million tons of crude steel during the first eleven months of the past Iranian calendar year 1395 (March 20, 2016-February 18, 2017), registering a 108 percent rise compared to the same period in its preceding year, IRNA rep...
April 6, 2017

IRGC Construction Base to Finish 10 “Mega-Projects”

Commander of Khatam al-Anbia Construction Base, a conglomerate belonging to the Islamic Revolution Guards Corps (IRGC), said it is going to complete ten major projects in the new Iranian year, which began on March 21. The ten mega-projects are of great significance from a national viewpoint, General Ebadollah Abdollahi said in a meeting with the […]
April 6, 2017

Iran may buy 100 Sukhoi Superjets

By John Lee. Sputnik reports that Iran has shown interest in purchasing 100 medium-haul Sukhoi Superjet 100 (SSJ100) passenger planes from Russia. Russian Energy Minister Alexander Novak confirmed that agreement has only been reached regarding 12 aircraft as of the moment. The SSJ100 can transport up to 98 passengers up to 2,700 miles, and costs around $36 million in its basic […]
April 6, 2017

NIDC Spuds 193 Wells during Last Calendar Year

The National Iranian Drilling Company (NIDC) successfully drilled 193 oil and gas wells during the previous calendar year which ended on March 20. An NIDC official, Naser Qolipour says 50 of the wells were completed 742 days ahead of plans. He said the company drilled 293,605 meters of wells during the same year. NIDC is […]
April 6, 2017

Major Indian Investment in Farzad B Gas Field

Indian state-owned oil company ONGC Videsh plans to invest more than $3 billion to develop Iran’s Farzad B gas field in the Persian Gulf, a report said. ONGC Videsh last month submitted a revised plan to the Iranian government for the field, which the company will be able to develop within five years, Managing Director […]
April 6, 2017

France Removes Restrictions on Bank Saderat

By John Lee. IRNA reports that the French Central Bank has lifted restrictions on Iran’s Bank Saderat branch in Paris, paving the way for normal banking transactions in the branch. The EU had previously announced the exclusion of Bank Saderat from its list of sanctions. (Source: IRNA)
April 6, 2017

Petchem exports projected to hit $11 billion

TEHRAN – The National Petrochemical Company plans to export 23 million tons of petrochemical products, worth $11 billion, during the current Iranian calendar year (started on March 21).
April 6, 2017

Petchem exports projected to hit $11 billion

TEHRAN – The National Petrochemical Company plans to export 23 million tons of petrochemical products, worth $11 billion, during the current Iranian calendar year (started on March 21).
April 6, 2017

Iran’s half-month oil price hikes near $12 yr/yr

TEHRAN – The price for Iranian oil has witnessed an almost $12 rise in the first half of the first Iranian calendar month Farvardin (March 21-April 4) compared to the same period last year, Shana reported.
April 6, 2017

Iran’s half-month oil price hikes near $12 yr/yr

TEHRAN – The price for Iranian oil has witnessed an almost $12 rise in the first half of the first Iranian calendar month Farvardin (March 21-April 4) compared to the same period last year, Shana reported.