December 21, 2016

Greece interested in Iran’s gas

TEHRAN – Greece's Alternate Foreign Minister for European Affairs George Katrougalos (R) voiced his country’s interest in purchasing Iranian gas, Shana reported on Tuesday.
December 21, 2016

Enhanced gas recovery POGC’s main focus in co-op with foreigners

TEHRAN- Enhancing the rate of gas recovery from South Pars gas field through installing related installations and platforms is the main focus of Pars Oil and Gas Company (POGC) in attraction of foreign investment and also transfer of foreign technology...
December 20, 2016

Maersk may sign HOA with NIOC to develop South Pars oil layer

TEHRAN – The Danish business conglomerate Maersk may sign a Heads of Agreement (HOA) with National Iranian Oil Company (NIOC) to develop oil layer of Iran’s South Pars oil and gas field in Persian Gulf, according to an Iranian oil official.
December 20, 2016

IMF sees Iran’s GDP growth to rebound to 6.6% in 2016-17

The International Monetary Fund (IMF) has made a statement predicting a 6.6-percent economic growth for Iran in 2016 and 2017.
December 20, 2016

Iran “Ditches Airbus A380 Superjumbo”, Slashes Order Size

By John Lee. CNN reports that Iran Air will not be ordering the twin-deck A380 aircraft from Airbus. Iran Air CEO Farhad Parvaresh is quoted by Mehr News Agency (MNA) as saying: “The initial value of the deal with Airbus was $25 billion for 118 planes, and now that the A380 has been canceled the […]
December 20, 2016

CBI Boss to Chair Islamic Financial Services Board

By John Lee. The Council of the Islamic Financial Services Board (IFSB) has appointed Dr. Valiollah Seif, Governor of Central Bank of Iran (CBI), as its Chairman for 2017. Dr. Seif is a veteran of banking and finance, and is one of the most distinguished figures in the Iranian banking system. He has a PhD in […]
December 20, 2016

Pakistani Cabinet Considers Iran Gas Pipeline Project

The Pakistani government is to discuss the details of the Iran-Pakistan (IP) gas pipeline project. The 56-inch diameter pipeline will initiate from South Pars gas field Iran and end at Nawabshah covering a distance of around 1,931 kilometer with 1,150 km portion in Iran and 781 km in Pakistan. The implementation is to be done […]
December 20, 2016

PKN Orlen to buy Iranian Oil

PKN ORLEN has purchased 1 million barrels of Iranian Light oil. It will be delivered to Naftoport in Gdańsk in January, to be then transported to the PKN ORLEN refinery in Płock. The company said the newly initiated cooperation with the National Iranian Oil Company (NIOC) fits into its oil procurement strategy designed to build […]
December 20, 2016

BXB Expands Presence in Iran

By John Lee. Taiwanese audio-visual company BXB added long standing partner PTO Light and Sound System to its distribution network. Iran-based PTO will have the exclusive rights to distribute BXB products in Armenia, Azerbaijan, Iran, the Kurdistan reg...
December 20, 2016

Italy’s imports from Iran up 35% in 9 months yr/yr

Tehran- According to the latest figures released by the European Union's statistics agency Eurostat, registering a 35-percent hike, Iran’s exports to Italy in the first nine months of 2016 increased up to €477 million from its
December 20, 2016

Iran, Malaysia hold business forum to raise investment

TEHRAN – An Iran-Malaysia business forum was held on Monday aiming to explore expansion of economic ties and attracting foreign investment, IRIB news reported.
December 19, 2016

Iran’s Yadavaran oilfield output reaches 70m barrels

TEHRAN – The cumulative production from Iran’s Yadavaran oilfield has reached 70 million barrels since starting the development project, Shana reported on Monday.
December 19, 2016

Switzerland, Iran discuss broadening capital market bonds

TEHRAN – Switzerland and Iran discussed ways to expand bilateral ties between capital markets of the two countries.
December 19, 2016

Iran to get First Airbus “Within Weeks”

By John Lee. Reuters reports that Iran expects to get its first new Airbus jet as early as mid-January. The delivery would be part of a multi-billion-dollar deal with Airbus for 100 planes to renew Iran Air‘s aging fleet. The Deputy Roads and Urban Development Minister Asghar Fakhrieh Kashan told Reuters: “We are expecting some […]
December 19, 2016

Iran, Russia sign $2.5bn Construction, Energy Deals

By John Lee. Trade Arabia reports that Russia and Iran have signed a $2.5-billion deal on construction of a thermal power plant in southern Iran and electrification of a railway line. The power station is to be built in Bandar Abbas, while the railway line connects the towns of Garmsar and Incheborun. The countries also […]
December 19, 2016

Cipla Forms JV to Manufacture Drugs in Iran

By John Lee. Indian pharmaceutical company Cipla Holding has entered into a joint venture agreement with Ahran Tejarat for manufacturing and marketing pharmaceutical products in Iran. Under the agreement, Cipla will initially acquire a 75 percent stake in Iranian firm Issat Co., which is currently owned by Ahran Tejarat, for a cash consideration of €1.35 […]
December 19, 2016

Iran, Indonesia Sign MoU for Cooperation in Oil, Gas

Iran and Indonesia have signed a Memorandum of Understanding (MoU) for cooperation in oil and gas. The MoU was signed by National Iranian Oil Company (NIOC) and Indonesian oil companies and Iran’s Mapna and Indonesian PLN company also signed MoUs for cooperation in oil. Indonesian President Joko Widodo had in a meeting with President Hassan Rouhani […]
December 19, 2016

Oil Exports to Tumble to Five-Month Low

By John Lee. Iran’s crude oil exports are expected to drop by 8 percent from November to December, according to a report from Reuters, which describes it as a sign that Iran may not be able to keep its oil production on a continued growth curve. Total exports are expected at 1.88 million bpd this […]
December 19, 2016

Why Iran is Moving to Halt Exports of Raw Minerals

By Maysam Bizaer, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Mining could play a pivotal role in all economies, whether directly or indirectly, through providing materials for other industrial sectors. In Iran, the mining sector remains underdeveloped, despite the fact that the country is […]
December 19, 2016

Food, handicrafts festival underway in Tehran 

TEHRAN - The second festival of agricultural products, meat and seafood as well as handicrafts kicked off in Tehran on Wednesday.