April 2, 2019

Extending OPEC-non-OPEC deal not difficult: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh said extending the deal between OPEC and the group of non-OPEC oil producing countries on output cut is not a difficult task, Shana reported.
April 1, 2019

TSE worth of trades up 106% in a month

TEHRAN- The value of trades at Tehran Stock Exchange (TSE) increased 106 percent in the last month of the past Iranian calendar year, Esfand (February 20 – March 20, 2019 ), Mehr news agency reported.
April 1, 2019

Iranian energy min. to chair Iran-Afghanistan Joint Economic Committee

TEHRAN- Iranian Energy Minister Reza Ardakanian was appointed as the chairman of Iran-Afghanistan Joint Economic Committee, IRNA reported on Monday.
April 1, 2019

US Disrupts IRGC Front Company Network

United States Disrupts Large Scale Front Company Network Transferring Hundreds of Millions of Dollars and Euros to the IRGC and Iran’s Ministry of Defense Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against 25 individuals and entities, including a network of Iran, UAE, and Turkey-based front companies, that have transferred over a billion dollars and euros to the Islamic […]
March 31, 2019

New Sanctions on Entities linked to Iran Nuclear Weapons Effort

U.S. Government Sanctions Organizations and Individuals in Connection with an Iranian Defense Entity Linked to Iran’s Previous Nuclear Weapons Effort The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), together with the U.S. Department of State, designated 14 individuals and 17 entities today in connection with Iran’s Organization of Defensive Innovation and […]
March 30, 2019

Japan extends insurance for imports of oil from Iran

TEHRAN- Japan has extended state-backed insurance for the imports of crude oil from Iran, a government official told Reuters on Thursday.
March 30, 2019

IMIDRO inaugurates projects worth over $2 b in a year

TEHRAN- Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) put projects worth $2.17 billion into operation during the past Iranian calendar year (ended on March 20), according to the head of the organization.
March 30, 2019

IRENEX to hold 1st crude oil offering in new Iranian year on April 9

TEHRAN- National Iranian Oil Company (NIOC) will offer one billion barrels of crude oil at the base price of $63.36 at Iran Energy Exchange (IRENEX) for the eighth time on April 9, Mehr news agency reported.
March 30, 2019

Oil minister to leave Tehran for Moscow on Monday

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh will leave Tehran for Moscow on Monday, Shana reported.
March 29, 2019

PEDEC Outlines Priorities

The CEO of Petroleum Engineering and Development Company (PEDEC) outlined the company’s priorities in the new Iranian calendar year which starts on March 21. According to PEDEC, Touraj Dehghani said accelerating the development of joint oil fields was top on PEDEC’s agenda in the new Iranian year. He said: “This year, given the special conditions […]
March 28, 2019

South Pars Gas Output to Hit 750 mcm by Late 2019

Iranian Minister of Petroleum Bijan Zangeneh said the country’s gas production capacity from the supergiant South Pars gas field would cross 750 million cubic meters per day by late 2019. Addressing a ceremony to officially launch phases 13 and 22-24 of the major joint gas field, that was held in the presence of the Iranian […]
March 27, 2019

Iran Launches New Phases of South Pars Gas Field

Iran’s president inaugurated four new phases of the large South Pars gas field in the southern province of Bushehr on Sunday. Accompanied by the minister of oil and other top officials, President Hassan Rouhani inaugurated the phases 13, 22, 23 and 24 of the South Pars gas field. Each of the new phases has a […]
March 26, 2019

Iran sitting on 200 Undeveloped Oil/Gas Reservoirs

There are currently over 200 undeveloped oil and gas reservoirs in Iran, an official has said. According to the National Iranian Oil Company (NIOC), Director of NIOC’s Integrated Planning Karim Zobeidi said that a total of 42.4% of Iran’s oil reservoirs and 10% of the gas reservoirs have been depleted so far. Speaking on Monday […]
March 25, 2019

Iran’s Non-Oil Exports Hit $40bn in 11 Mths

The head of Iran’s Trade Promotion Organization (TPO) announced that the country’s non-oil exports over the first 11 months of the current Iranian year (March 21, 2018 – March 20, 2019) have reached 40 billion dollars. Speaking to the Islamic Republic of Iran Broadcasting (IRIB) on Thursday night, Mohammad Reza Moudoudi said the non-oil exports […]
March 24, 2019

Tehran’s Quality of Living Ranking …

By John Lee. Tehran has been ranked in 199th place in the Mercer 2019 Quality of Living Survey. This puts it just ahead of Karachi in Pakistan and Caracas in Venezuela, and just behind Luanda in Angola and Dar es Salaam in Tanzania. Vienna again retains the top spot; Zurich and Vancouver follow in second […]
March 23, 2019

Turkish-Iranian Trade Disappoints Big Time

By Mehmet Cetingulec for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Turkey and Iran have maintained cooperation in regional affairs in recent years, including most notably joint efforts for a settlement in Syria but also solidarity against US and Israeli policies in […]
March 22, 2019

CEO of IOTC Appointed

Masoud Karbasian, the National Iranian Oil Company (NIOC) CEO, has appointed Abbas Asadrouz as the new CEO of the Iranian Oil Terminals Company (IOTC). The official issued separate decrees appointed Asadrouz as the vice-chairman of the company’s board of directors as well. Karbasian also issued a decree based on which he appointed Soltan Kamali as […]
March 21, 2019

Renault to Return to Iran: Deputy Minister

An Iranian deputy minister said French carmaker Renault SA will return to Iran after it halted cooperation with Iranian companies under the US sanctions. In comments on Thursday, Deputy Minister of Industry, Mines and Trade Farshad Moqimi said Renault has made an investment of $1 billion in Iran. “Following the negotiations and consultations that have […]
March 20, 2019

Mechanism Commensurate with INSTEX “to be Established Soon”

Iran’s Mechanism Commensurate with INSTEX to Be Established Soon: CBI Chief Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said a mechanism commensurate with the European Union’s mechanism for trade with Iran, known as the Instrument in Support of Trade Exchanges (INSTEX), will be established in the country soon. “In the talks that […]
March 19, 2019

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Staff Assistant, ESCAP – Economic and Social Commission for Asia and the Pacific Programme Officer, ESCAP – Economic and Social Commission for Asia and the Pacific Administrative Assistant, ESCAP – Economic and Social Commission for Asia and the Pacific International Consultancy Services as a […]