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 […]

 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 […]