The spokesman for the Iranian Parliament’s Energy Commission said the development of Iran’s oil industry could not be stopped. Speaking to SHANA, Asadollah Ghareh Khani said Iran’s oil industry had continued its development process despite sanctions over the past years and decades, adding preventing Iran’s oil exports was “more of a joke; we have our […]

Minister of Energy Reza Ardakanian said that Islamic Republic of Iran moved up 24 ranks in terms of generation of electricity in the past forty years. According to statistics, Iran’s rank of power generation in the world promoted from 38 to 14 and presently, the Ministry of Energy is exchanging electricity with its neighbors. He […]

National Iranian Oil Refining and Distribution Company (NIORDC) will inaugurate 20 development projects worth €1.6 billion (35 trillion rials, which equals €744.6 million, plus €861 million) during the Ten-Day Dawn (February 1-10, marking the victory anniversary of the Islamic Revolution), IRNA reported on Friday. As announced by the Oil Ministry, the third phase of gas […]

 The Foreign Ministry issued a statement of Thursday saying Tehran welcomes the European Union’s payments mechanisms to skirt the U.S. sanctions against Iran, yet it sought an immediate implementation of the payment channel. “Iran calls for full implementation of the European Union’s commitments in the shortest period of time,” Foreign Ministry spokesman Bahram Qassemi said. […]

Germany, France and Britain officially set up a European payment channel with Iran called INSTEX, to help continue trade with Tehran and circumvent US sanctions. The channel, set up by Germany, France and the UK, is called INSTEX, an abbreviation for “Instrument in Support of Trade Exchanges,” NDR reported on Thursday. The payment channel would […]

Iran Commercial Envoy to Iraq Naser Behzad said on Wed. that production of leather footwear and jackets is of Iran’s prioritized capacities in neighboring Iraqi market. He made the remark on the sideline of his visit to a leather production factory in Iraq and maintained, “considering the cheap price of hide in Iraq, various leather products […]

Non-oil trade between Iran and Azerbaijan amounted to 702,062 tons worth $326.91 million in the first nine months of the current Iranian year (to Dec. 21), indicating an increase in both volume and value. Trades between the two countries observed a 32.74% and 35.49% growth in tonnage and value respectively compared with last year’s corresponding […]

TEHRAN – Head of Isfahan Chamber of Commerce criticized the government over its discrimination in implementing the laws. IRAN NEWS ECONOMIC DESK Addressing the 70th meeting of Dialogue Council of Government and private sector of Isfahan Province, Mr. Seyed Abdolwahab Sahlabadi said that production’s right from the revenues resulted from privatizing the energy carriers is […]

The CEO of the National Iranian Oil Company (NIOC) said the company would start issuing Rls. 10 billion of fixed-rate (Manfa’at) bonds on February 2 with the aim of financing oil projects. According to Shana, the bonds are being issued for providing the required finances for developing NIOC’s oil production maintenance and enhancement projects and would […]

National Iranian Oil Company (NIOC) will offer one million barrels of light crude oil at Iran Energy Exchange (IRENEX) for the fourth time on February 4, Shana reported on Monday. The set price for this round of oil sale is $56.24 per barrel, and the least amount of sale will be 35,000 barrels like the […]