July 20, 2019

Iran’s refining capacity grows nearly 40% since March 2017

TEHRAN – Head of National Iranian Oil Refining and Distribution Company (NIORDC) said Iran’s crude oil and gas condensate refining capacity has increased by 38.8 percent since 2017.
July 20, 2019

‘Over 6,500 stone processing units operating across Iran’

TEHRAN - Director General of Mineral Industries Office of the Ministry of Industry, Mining and Trade Seifollah Amiri said over 6500 stone processing units are currently active across the country, 500 of which are exporting to global markets.
July 20, 2019

Iran to save €85m in a year by indigenizing auto parts

TERHAN - Iranian Deputy Industry, Mining and Trade Minister for Industrial Affairs Farshad Moqimi said the country’s car makers will soon sign deals worth $7.4 trillion rials (about €157.4 million) with domestic spare parts manufacturers, which will sa...
July 20, 2019

SP phase 14 refinery’s 1st unit to go operational by late Oct.

TEHRAN – Managing director of Pars Oil and Gas Company (POGC) said the first unit of South Pars gas field’s phase 14 refinery will be operational by the end of the seventh Iranian calendar month of Mehr (October 22), IRNA reported.
July 19, 2019

IMIDRO to inaugurate $3.5b of new projects by March 2020

TEHRAN- Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) plans to put projects worth nearly $3.5 billion into operation by the end of the current Iranian calendar year (ends on March 20, 2020), IRNA reported on Frida...
July 19, 2019

No worries over fuel supply, senior official says

TEHRAN – Iran doesn’t have any problems regarding production and supply of gasoline and gasoil despite the U.S. sanctions, Press TV reported, quoting an official with the oil ministry as saying on Wednesday.
July 19, 2019

Iran elected as head of OPEC Fund’s ministerial council

TEHRAN – Iran’s Finance and Economic Affairs Minister Farhad Dejpasand was elected the chairman of the OPEC Fund for International Development (OFID) ministerial council, Iranian mission to Vienna announced.
July 19, 2019

TPO to hold Iran-East Africa business forum in late-July

TEHRAN – Iranian Trade Promotion Organization (TPO) plans to hold an Iran-East Africa business forum focusing on banking, insurance and transportation in July 24 at Tehran Permanent International Fairgrounds.
July 19, 2019

Iran, Azerbaijan explore avenues of co-op in transportation

TEHRAN – Iranian Transport and Urban Development Minister Mohammad Eslami held talks with his Azeri counterpart Ramin Guluzade in Tehran on Wednesday during which the two sides discussed expansion of ties.
July 19, 2019

CBI governor calls for expansion of banking ties with Turkey

TEHRAN – The Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati said on Friday that without proper banking relations between Iran and Turkey, reaching their $30 billion goal of bilateral trade would be impossible.
July 19, 2019

Forex market stabilized, rial soaring

Forex market in Iran has been experiencing many ups and downs after the U.S. withdrew from Iran’s nuclear deal (known as JCPOA) in May 2018.
July 19, 2019

Tehran hosting exhibit of domestic production opportunities

TEHRAN- Iran’s first exhibition of domestic production opportunities and manufacturing boom kicked off at Tehran permanent international fairground on Thursday and will wrap up on Sunday, Shata reported.
July 17, 2019

300MW to be added to Iran’s renewables capacity by March 2020

TEHRAN- Some 300 megawatts (MW) of new capacity will be added to Iran’s renewable power generation by the end of the current Iranian calendar year (March 19, 2020), IRNA reported on Wednesday, quoting Iranian energy minister as saying.
July 17, 2019

‘NIGC moving toward complete self-sufficiency in face of sanctions’

TEHRAN - Saied Pakseresht, director of research and technology at National Iranian Gas Company (NIGC), said the company is nearly self-sufficient in supplying all its needs.
July 17, 2019

Iran’s share of Iraqi market grows 40% in 3 months

TEHRAN – Iran’s share of the neighboring Iraq’s total foreign trade reached 21 percent in the first three months of the current Iranian calendar year (March 21-June 21), registering a 40 percent growth compared to the same period last year.
July 17, 2019

Renault regional sales drop drastically after exit from Iran

TEHRAN - French carmaker Renault sales in the Middle East and Africa region fell 27.7 percent largely as a result of Renault’s 2018 withdrawal from Iran under threat of U.S. sanctions, the company said in a statement on Tuesday.
July 17, 2019

CBI plans to channel liquidity into production: governor

TEHRAN- Central Bank of Iran (CBI)’s Governor Abdolnasser Hemmati said this bank has some plans for channeling the liquidity into production in a target-oriented way, ISNA reported on Wednesday.
July 17, 2019

‘Iran-Germany trade overshadowed by sanctions’

TEHRAN – Managing Director of Germany-Iran Chamber of Commerce and Industry (AHK Iran) said the current political situation (sanctions) is negatively affecting the economic relations between Iran and Germany.
July 17, 2019

Over $9b needed for completing semi-finished projects: industry min.

TEHRAN - Iranian Industry, Mining and Trade Minister Reza Rahmani said 390 trillion rials (nearly $9.3 billion) is required to finish unfinished projects with over 60 percent physical progress, Shata reported.
July 16, 2019

Saddeq Kharrazi says Jahangiri has been sidelined in Rouhani administration

TEHRAN - Sadeq Kharrazi, secretary-general of the pro-reform Voice of the Iranians Party, is of the opinion that Vice President Es’haq Jahangiri has been actually sidelined in the administration of President Rouhani.