In a letter to OPEC President Mohamed Al Mazrouei, Iranian Oil Minister Bijan Namader Zanganeh highlighted that if member countries do not adhere to their commitments regarding oil output, the effectiveness of the organization will be gradually eroded. In the letter, Zanganeh reminded Mazrouei, who is the Minister of Energy & Industry of the United […]

Deputy CEO of the Islamic Republic of Iran Railways Company for Planning and Economic Affairs Nourollah Beiranvand said that 40,000 billion rials worth of capital will be financed for two giant railway projects in the country. Investing development projects should be accelerated in the country, he said, adding, “like other developed and advanced countries, huge […]

Iran has exported 29,484 tons of yogurt valued about 30 million dollars in the first three months of the current Iranian calendar year. Latest statistics of the Islamic Republic of Iran Customs Administration (IRICA) shows that 29,484 tons of yogurt, valued about 30 million dollars, has been exported from Iran to nine countries in the […]

TEHRAN – National Iranian Gas Company (NIGC)’s Gas Distribution Director Saeid Momeni said 73.6 percent of the country’s rural areas have been connected to the national gas network by the end of the current Iranian calendar year’s first quarter (June 21). According to the official, the NIGC has it on the agenda to supply gas […]

 South Korea’s imports of Iranian oil fell 40.3 percent in June from the same month a year ago to their lowest since January 2015. South Korea, one of Asia’s major Iranian oil customers, imported 686,849 tons of Iranian crude in June, or 167,820 barrels per day (bpd), compared with 1.15 million tons in June 2017, […]

The United States’ ban on Iranian products will result in the loss of US and UAE’s markets for Iranian carpets, hence it is necessary for exporters to focus on alternative markets such as Germany, Russia and Oman, Deputy Industries Minister Sadeq Najafi said. Germany, Italy, France, Switzerland, the United States, the UAE, Kuwait, Qatar, Lebanon […]

India’s Finance Ministry has announced that there is no objection to allowing the Iranian private lender Bank Pasargad to open its branch in Mumbai and the Iranian bank’s proposal has been approved. According to Indian Express, in the wake of US sanctions, India may explore the possibility of reviving the rupee-rial arrangement to oil-related transactions […]

TEHRAN – Mohammad Baqer Nobakht, head of Budget and Planning Organization, unveiled the first section of a comprehensive plan aimed to tackle U.S.-led sanctions against Iran, ISNA reported. In a letter to President Hassan Rouhani published on Friday, Nobakht enumerated the first part of the comprehensive plan, which is comprised of 12 executive packages, prepared […]

TEHRAN- Iran imported 5.7 million liters per day of gasoline during the three-month period from the beginning of current Iranian calendar year (March 21), which was 3.3 million liters less than the planned amount for this period, the managing director of National Iranian Oil Products Distribution Company (NIOPDC) announced. Mohammadreza Mousavikhah also said: “We are […]

In the wake of US pressures, India will likely cancel rials-rupee trade agreement with Iran, which was inked three years ago. According to the informed sources, India tries its utmost effort to receive sanctions waiver from US for its important project in Iran’s Chabahar Port. Since Iran had been put under sanctions by the United […]