Iranian Deputy Minister of Roads and Urban Development and Managing Director of Ports and Maritime Organization Mohammad Rastad said that the India’s IPGL will soon start its development project in Chabahar Port. “The Indians will soon kick off their official activity at Iranian southeastern port of Chabahar with an $85 million capital,” said Iranian Deputy […]

TEHRAN – Chairman of Export Promotion Council for India’s EOUs and SEZs (EPCES) said the U.S. sanctions on Iran won’t affect India’s trade activities in Iran’s Chabahar port, IRNA reported on Tuesday. According to Vinay Sharma, the U.S. sanctions include trade and business as well as goods and services sectors while Chabahar port is a […]

Turkey is happy to receive oil from Iran and won’t be joining US efforts to block Iranian crude exports, President Recep Tayyip Erdogan said, refusing to cut economic ties with “strategic partner” Tehran, RT reported. “Iran is both our neighbor and our strategic partner,” and severing ties with Tehran on America’s whim goes against Turkey’s […]

National Iranian Oil Company (NIOC) has discussed the Russian Gazprom’s offer to develop Iran’s North Pars Gas Field as well as other Iranian gas and oil fields. Following US pullout from JCPOA on May 8 and reinstating the unilateral sanctions aginst Iran, some European companies decided to leave Iran, but a number of others, including […]

Abdolnaser Hemmati has been appointed by Rouhani’s cabinet as the new governor of Central Bank of Iran, replacing Valiollah Seif. Rouhani’s cabinet on Wednesday gave Abdolnaser Hemmati a vote of confidence to replace Valiollah Seif as the governor of the Central Bank of Iran. Hemmati had previously served as the president of Central Insurance of Iran […]

TEHRAN- Iran exported $1.072 billion of iron ore in the past Iranian calendar year (ended on March 20, 2018), which indicates 31.1 percent rise from its previous year’s figure, IRNA reported on Tuesday citing the data released by the Islamic Republic of Iran Customs Administration (IRICA). China was the main buyer of Iran’s iron ore […]

TEHRAN- The Statistical Center of Iran announced that the inflation rate in the twelve-month period ended on July 22, which marks the end of the Iranian calendar month of Tir, stood at 8.7 percent, up 0.5 percent from its previous month, IRIB reported on Tuesday. As reported, inflation rate stood at 8.8 percent and 8.2 […]

The Chairman and Managing Director of Pars Oil and Gas Company Meshkinfam said that 6 new gas rigs will get operational by March 2019. “We will have 6 new gas rigs come on line by the end of the year [1397 of Iranian calendar on March 21, 2019] to increase the production of the South […]

Iran exported 5.356 million tons of petrochemical products worth more than $3.158 billion during the three-month period from the beginning of current Iranian calendar year (March 21), IRIB reported citing the data released by National Petrochemical Company (NPC). The country produced over 13.26 million tons of petrochemicals during the first quarter, NPC data showed. As […]

India and Iran are good partners in the oil trade despite Washington’s discontent, and they should continue cooperating if they so wish, Germany’s Minister of State for Foreign affairs Niels Annen said on a visit to New Delhi, RT reported. “I am not a salesman for Iran but I have an impression that India is […]