Iran and Germany signed a memorandum of understanding (MOU) for cooperation in training and education of industry managers and entrepreneurs on Wednesday in Germany. The MOU was signed by the Managing Director of Iran Small Industries and Industrial Parks Organization Sadeq Najafi and a deputy at the German ministry of economic affairs and energy. Najafi […]

An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon. A source from the National Iranian Tanker Company said the company is shipping more than […]

The issue of offering crude oil in the stock market of Iran dates back to the Iranian calendar year of 1379 (March 2000-March 2001). Since then it has come on the table several times but was never materialized. But now, with the U.S.’s withdrawal from Iran’s nuclear deal in May and re-imposition of sanctions against […]

 Iranian steel mills produced a total of 9.328 million tons of crude steel during the first five months of the current Iranian year (March 21-Aug. 22). According to the data released by the Ministry of Industry, Mine and Trade, the figure indicates a 10.8% increase compared with last year’s corresponding period, when the country’s steel […]

Head of the Iranian National Standards Organization (INSO) said Wed. that Iran and Russia are making every effort to achieve common standards in the economic sector in a bid to boost mutual trades. Nayereh Pirouzbakht, the INSO head, said that facilitating mutual trades entails common standards, and the two sides are studying various options and […]

Offering crude oil at Iran Energy Exchange (IRENEX) will be commenced on October 28 to thwart U.S. sanctions, ISNA quoted Deputy Oil Minister Ali Kardor as saying on Tuesday. The government is to offer oil in form of at least 35,000-barrel-cargos and the total of one million barrels per day at IRENEX, he announced addressing […]

 Increasing the value of trade between Uzbekistan and Iran to $1 billion is one of the top priorities of the Uzbek government, Uzbekistan Ambassador to Iran Bakhodir Abdullaev said in a meeting with a number of Iranian businessmen in the central city of Arak on Monday evening. The envoy put the current annual trade between […]

India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) expects India to get a waiver from U.S. sanctions on Iranian oil exports this month, a company official said on Tuesday. The company will also look at buying Iraqi oil to replace Iranian oil, said MRPL Managing Director M. Venkatesh on the sidelines of the IHS CERA conference, […]

 Iranian Oil Minister Bijan Namdar Zanganeh said U.S. cannot balance a market which is suffering from short supply by words and bullying. “The oil market is suffering from short supply and this cannot be resolved by words. Trump thinks he can bring the oil prices down by bullying,” Zanganeh said on the sidelines of the […]

 Ministry of Energy is planning to increase the country’s thermal power capacity up to 5,223MW by summer 2019 to make up for the shortage of about 8,000MW reliable power next year. There is going to be about 8,000MW shortage of reliable power during peak times in 2019, according to the latest assessments. The Ministry of […]