January 27, 2017

Turkmenistan says ready for more talks with Iran in gas dispute

Turkmenistan is ready to continue talks with Iran after cutting gas supplies to Tehran this month but also has the right to take the dispute over payments to arbitration, the Central Asian nation's foreign ministry said on Thursday.
January 27, 2017

Europe chomps most Iran oil in years with supertankers due in days

Europe is poised to receive the most Iranian crude in about five years this month in a sign that the Persian Gulf nation may be regaining its share of a market it had lost to sanctions.
January 27, 2017

Turkmenistan says ready for more talks with Iran in gas dispute

Turkmenistan is ready to continue talks with Iran after cutting gas supplies to Tehran this month but also has the right to take the dispute over payments to arbitration, the Central Asian nation's foreign ministry said on Thursday.
January 27, 2017

Iran’s crude steel output ascends 11% in 2016: WSA

TEHARN- According to the latest report published by the World Steel Association, Iran produced 17.89 million tons of crude steel in 2016, registering an 11-percent growth compared to the figure in 2015, IRNA reported.
January 27, 2017

Iran’s crude steel output ascends 11% in 2016: WSA

TEHARN- According to the latest report published by the World Steel Association, Iran produced 17.89 million tons of crude steel in 2016, registering an 11-percent growth compared to the figure in 2015, IRNA reported.
January 27, 2017

Siemens to sell 12 Compressors to Iran

Germany’s Siemens has received a major order for 12 compressor trains for two onshore natural gas processing plants in Iran. The company Palayesh Parsian Sepehr will operate the plants. Siemens’ customer is the EPC Hampa Engineering Corporation. The order volume is in the high double-digit million euro range. Commercial operation is expected end of 2018. […]
January 27, 2017

Iran, Turkey sign MoU on Banking Coop

By John Lee. Iran and Turkey set up a joint committee on banking to help achieve trade of $30 billion by the end of 2017. The Central Bank of Iran (CBI) said the first meeting of the committee was held on Wednesday in Tehran. The two delegations discussed ways to remove obstacles to improved banking […]
January 27, 2017

Iran Oil Exports to Rise Slightly in February

By John Lee. Iran’s exports of crude oil and condensate are reportedly expected to increase slightly to just over 2.20 million bpd in February, up from 2.16 million bpd in January. But according to a report from Reuters, this is the lowest rate since July, and considerably below the high of nearly 2.6 million bpd […]
January 27, 2017

Turkmenistan ready for Talks over Gas Export Cut

Turkmenistan’s foreign ministry said on Thursday that the Central Asian country is ready to continue talks with Iran after it abruptly cut off its gas supplies to its southern neighbor. In a statement on Thursday, the foreign ministry said Ashgabat is ready to continue talks with Iran after cutting gas supplies to Tehran this month, […]
January 27, 2017

US Senators introduce Iran Non-Nuclear Sanctions Act

U.S. Senators Marco Rubio (pictured) (R-FL), Todd Young (R-IN) and John Cornyn (R-TX) have reintroduced the Iran Non-nuclear Sanctions Act, legislation that would impose harsh financial and economic sanctions countering Iran’s non-nuclear provocations, including its ballistic missile violations, human rights abuses and support for international terrorism. “After years of unilateral concessions and flexibility by the […]
January 26, 2017

Iran to Build New Gas Export Pipeline to Iraq

By John Lee. The Planning Director of the National Iranian Gas Company (NIGC) has said that Iran has started work on the second pipeline for exports of natural gas from Iran to Iraq. Hassan Montazer Torbati (pictured) said construction of the pipeline to south Iraq had begun on a Build-Operate-Transfer (BOT) contract. The first pipeline […]
January 25, 2017

Austrian Oil Firm signs Iran Agreement

Austrian oil and gas company OMV has signed a Memorandum of Understanding with Dana Energy, a “leading Iranian company targeting oil and gas upstream field development activities“. The parties agreed to evaluate possible upcoming development and re-development projects in the Iranian oil and gas industry. The document was signed in Vienna by S. Mostafa Khoee, […]
January 25, 2017

Trump May ‘Suspend Some Immigration’ from Iran

By John Lee. ABC News cites sources as saying that US President Donald Trump could suspend some immigration from Iraq, Iran, Libya, Somalia, Sudan, Syria and Yemen, either temporarily or “indefinitely“. They also say that the move by Trump, who is expected to visit the Department of Homeland Security on Wednesday, could also impact refugees […]
January 25, 2017

Iran reaping Economic Rewards in Syria?

By John Lee. Reuters reports that Iran’s elite Islamic Revolutionary Guards Corps (IRGC) have signed major economic contracts with Syria, reaping what appear to be lucrative rewards for helping President Bashar al-Assad regain control of parts of his country. Five memorandums of understanding were reportedly signed during a visit by Syrian Prime Minister Emad Khamis […]
January 25, 2017

UK Banks rebuff Govt push to Boost Iran Trade

By John Lee. According to a report from Reuters, the Royal Bank of Scotland (RBS) has rebuffed efforts by the British government, a major shareholder, to coax the lender into facilitating trade with Iran. Following the lifting of sanctions, and in anticipation of the UK leaving the European Union (EU), British officials have sought to […]
January 25, 2017

Damavand Petrochemical Plant Finally Privatized

Iran has ceded Damavand Petrochemical Utility Plant to the private sector after a series of failed bids, a privatization official said. The Managing Director of Iran Privatization Organization Jafar Sobhani said on Tuesday that the organization has finally sold the facility to the private sector at nearly IRR 8.270 billion. He said the organization held […]
January 25, 2017

Iran sees Decline in Inclusiveness of Growth

A report from the World Economic Forum (WEF) says that Iran has seen a decline in the inclusiveness of growth, losing over 1.54 percent in its score in the last five years, but still ranks 21st among the 79 developing economies on the Inclusive Development Index (IDI). The Inclusive Development Index is based on a […]
January 25, 2017

Siemens to supply compressor trains for Iranian natural gas processing plants

Siemens has been awarded a contract by Hampa Engineering to supply 12 compressor trains for two onshore natural gas processing plants in Iran.
January 25, 2017

Iran finds way to get Eurodif, Rössing dividend

TEHRAN - Iran has found a way to receive arrear dividends from European consortium Eurodif and the Namibia-based Rössing Uranium Ltd. which had been blocked due the country’s nuclear program, ISNA reported on Wednesday.
January 25, 2017

IME trade hikes 87% in 10 months

TEHRAN- According to the latest released data, 28 million tons of commodities worth more than 650 trillion rials (more than $16.7 billion) were traded in Iran Mercantile Exchange (IME) in a ten-month-period beginning from the start of current Iranian c...