Minister of Petroleum Bijan Zangeneh says Iran’s budget is the least tied to oil production among OPEC Member States, adding the country’s macro policy is to cut down dependency on oil revenues. “Although Iran’s budget is the least tied to oil among OPEC Member States, we are in good condition compared to neighboring countries,” said […]

 With South Pars gas field’s new phases going operational, the required feedstock for all the country’s petrochemical plants will be supplied during the cold season and none of them will stop production, Shana reported quoting an official with the National Petrochemical Company (NPC). “In the past few years, during the cold season some petrochemical complexes […]

President Hassan Rouhani presented the administration’s draft of the national budget bill for the next Iranian calendar year 1398, which starts on March 21, 2019, to the Majlis on Tuesday, ISNA reported. The proposed bill amounts to 17.03 quadrillion rials (about $405 billion at the official rate of 42,000 rials). Supplying basic goods, treatment and […]

 Iran’s National Petrochemical Company (NPC) is preparing to issue bonds for financing petrochemical projects, NPC CEO said Monday. Behzad Mohammadi said Monday that NPC was preparing a preliminary draft for issuance of bonds in foreign currencies and rials to be approved by the government in a bid to help resolve some of the financial problems […]

 Some 538,600 tons of non-oil commodities worth $339 million were exported from the northern province of Mazandaran during the nine months of the current Iranian year (March 21- Dec. 21), a senior official at the Islamic Republic of Iran Customs Administration said. According to Hassan Kheyrian, a coordinator at Mazandaran’s Customs Department, the figure indicates […]

According to the newest data released by the Central Bank of Iran (CBI), Iran’s debts to foreign lenders in the end of the seventh Iranian month of Mehr (October 22) stood at $10.093 billion, showing 10.7 percent decrease in comparison with the announced figure in the first Iranian calendar month of Farvardin (March 21- April […]

 Iran has exported some 12,571 tons of tea worth $18 million since the beginning of the current fiscal year (started on March 21), a senior official said. Habibollah Jahansaz, the head of Iran Tea Organization, added that the figure respectively indicates 51% and 40% growth in terms of tonnage and value compared with the corresponding […]

Managing director of Iran’s Energy Exchange said Sun. that a number of foreign companies have already obtained a special trading code to buy Iranian crude via the exchange market. Speaking to IRNA, Seyyed Ali Hosseini, the managing director of Iran’s Energy Exchange, said some countries have been contacting their embassies in Iran to obtain information about the purchase of oil […]

 Iran has so far generated a total of 250 billion dollars by recovering hydrocarbons from the supergiant South Pars gas field in Persian Gulf waters since the field’s development began, an official said. Addressing a press conference on Saturday, CEO of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam said the country had so far […]

Iranian Industry Minister Reza Rahmani, who accompanied President Hassan Rouhani in his trip to Turkeys, called for expansion of economic cooperation between Tehran and Ankara during his meetings with the Turkish president, his Turkish counterpart and other senior officials from that country, Shata reported on Friday. The Iranian minister underlined Iran’s commitment to the signed […]