Iran’s major steelmakers exported more than 4.715 million tons in the 10 months of the current Iranian calendar (March 21 – Jan. 21), so that Khuzestan province accounts for about 39 percent of country’s total steel production share. According to the statistical tables of large steelmaking companies [including Khuzestan Steel Co. (KSC) and Esfahan’s Mobarakeh […]

India and Iran will celebrate ‘Chabahar Day’ on February 26 at a mega event in Iran’s strategically located port, which is operated by India. A senior Indian official will lead a high-ranking delegation comprising business delegates, among others, at the day-long event, which will also see the participation of Afghanistan, Central Asia and Russia. Iran will […]

The governor of the Central Bank of Iran unveiled plans for using non-dollar accounts for oil and gas trade with Iraq. Abdolnaser Hemmati on Wednesday held a meeting with presidents of Iraqi banks, members of Iraq’s chamber of commerce and the Arab country’s business people during a trip to Baghdad. In the gathering, the top […]

TEHRAN – Iran and Iraq signed an agreement late Tuesday on a payment mechanism to remove the obstacles blocking the settlement of Baghdad’s debts to Tehran. IRAN NEWS NATIONAL DESK Signatories to the deal, which was inked in Baghdad, were Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati and his Iraqi counterpart Ali […]

Expressing regret over the unilateral withdrawal of US administration from nuclear deal, European Union’s ambassador to the United States David O’Sullivan said trade and commerce with Iran is part and parcel of INSTEX. David O’Sullivan, the European Union’s ambassador to the United States, wraps up his time in Washington at the end of February. The […]

 Given the widespread welcoming by market participants for launching futures and certificates of deposit for saffron trade at Iran Mercantile Exchange (IME) and its positive impact on transparency of the price of saffron and the elimination of intermediaries, IME will launch saffron options contracts by the end of current Iranian calendar year (March 20, 2019), […]

TEHRAN – Oil Minister Bijan Zanganeh criticized Greece and Italy for not buying its oil despite U.S. waivers and said they had not offered Tehran any explanation for their decision. IRAN NEWS NATIONAL DESK “No European country is buying oil from Iran except Turkey,” Oil Minister Zanganeh said in his presser yesterday. “Greece and Italy […]

 Iran’s Minister of Petroleum Bijan Zanganeh said Tuesday the country’s recoverable oil stood at 160 billion barrels. “Although Iran’s crude oil production has dropped from 5 mb/d [in 1979] to about 4 mb/d today, the significant point is that the country’s recoverable liquid hydrocarbon reserves have increased from 88 billion to 160 billion barrels now,” […]

 Iran’s Securities and Exchange Organization (SEO) Head Shapour Mohammadi put the number of codes held by the foreign shareholders at Iran Energy Exchange (IRENEX) at 300, IRIB reported. “These codes are for trading different types of products currently offered at IRENEX, but finding customers for the new products such as crude oil takes some time”, […]

A 7MW solar farm was inaugurated today in Kabudarahang, Hamedan province, with Iranian First Vice-President Es’hagh Jahangiri in attendance. Jahangiri will also inaugurate two other similar solar farms in Famenin and Hamedan cities of the province during his visit. Each of these solar farms has a 7MW capacity and has been launched by foreign investment […]