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 […]

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 […]