The National Iranian Oil Company (NIOC) in an announcement put Iran’s reserves of recoverable liquid hydrocarbons at an estimated amount of 160.12 billion barrels, while its natural gas reserves stand at 33.33 trillion cubic meters. This makes Iran one of the world’s largest holders of crude oil, condensate and gas liquids reserves on the planet. […]

TEHRAN – The most equipped laboratory for standardizing radiant heating system was unveiled in Zanjan in presence of some leading economic personalities. IRAN NEWS NATIONAL DESK One of the top jihadi managers of Zanjan Provinc, addressing the inaugural ceremony, said that Shayanir Sanat Artan Company “Garmsan” has started its activities with only one primary heating […]

TEHRAN – Head of financial department of Mobarakeh Steel Company says the capital of the company has grown by 73 percent. IRAN NEWS ECONOMIC DESK Mr. Tahmoures Javanbakht said that by the Securities and Exchange Organization issued licence for Mobarakeh Steel Company to increase its capital through its retained earnings. He went on to say […]

TEHRAN – Head of Central Insurance of Iran (Bimeh Markazi Iran) Gholamreza Soleymani said that the company will not interfere in the merge of insurance companies and it is up to them how to merge. IRAN NEWS ECONOMIC DESK Speaking in a press conference in Tehran yesterday, Soleymani said that it is not the policy […]

 Japan’s largest refiner JXTG Nippon Oil & Energy is set to resume loading of Iranian crude oil as early as Monday, almost three months after the US sanctions waiver was granted. According to S&P Global Platts, the VLCC Eneos Breeze is scheduled to arrive at Iran’s Kharg Island Monday to load the cargo. A JXTG […]

The caretaker of planning and control of South Pars Gas Field’s Phase 13 said the project has so far gained 93.4% work-in-progress. According to Pars Oil and Gas Company (POGC), Reza Moayedi underlined that the project has set new records in construction, installation and commissioning of various parts. Phase 13 of the giant offshore gas […]

 Hyundai Oilbank Company, a major South Korean refiner, plans to import 2 million barrels of Iranian condensate this month, a person familiar with the issue said Monday. It would be Hyundai Oilbank’s first imports of ultralight crude since September, two months before the United States reimposed its unilateral sanctions on Iran, South Korea Herald reported. […]

TEHRAN – Representative of Economic Cooperation Organization (ECO) member states and some diplomats on Saturday visited Bank Melli Iran Museum and inspected this historic national heritage. IRAN NEWS ECONOMIC DESK According to reports, Head of ECO Cultural Institute, accompanied by representatives from its member states as well as diplomats from Norway, Finland, Germany, India, Turkey, […]

 Over $1.1 billion worth of commodities were exported from West Azerbaijan province during the first 10 months of the current fiscal year (through Jan. 20), a senior official said. Governor of West Azerbaijan province Mohammad Mehdi Shahriari said more than $1.1 billion worth of goods were exported from the province in the past 10 months, […]

 The CEO of Karoon Oil & Gas Production Co. (KOGPC) says his company has processed 32,000 barrels of crude oil by mobile oil treater (MOT) devices during the past 10 months of the Iranian year (through Jan. 21). Mohsen Dahanzadeh added that the process has prevented the emission of 15,000 tons of carbon dioxide into […]