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 […]

A joint committee with cooperation of Foreign Ministry, Islamic Republic of Iran Customs Administration (IRICA), NAJA (Iranian police), and Ministry of Intelligence has been formed to protect and improve Iran’s exports to 15 countries across the globe, Interior Minister Abdolreza Rahmani Fazli was quoted by IRNA as saying on Monday. The committee seeks removal of […]

 A senior energy official said the government is planning to launch 18 GTX units to convert natural gas to propylene in Chabahar and Qeshm regions in a bid to increase the share of petrochemical products in the country’s value-added chain. Speaking to Shana, Ali Mohammad Bossaghzadeh, the director in charge of projects at the National […]

Some 233 thousand tons of bananas worth 217 million dollars have been imported to the country during the first half of the current Iranian year, experiencing a drop by 33.32% in weight and 19.30% in value compared to the same period last year. About 233,772 thousand tons of fresh or dehydrated bananas have been imported to […]

Iran’s heavy crude oil price jumped $2.09 in the week ended on October 5 to cross $80 per barrel. Iranian heavy oil prices surged to $80.86 in the mentioned week, Shana reported on Saturday. The prices experienced a $27.59 increase in comparison to the figures for last year’s same period of time. The rise in […]

 Iran’s non-oil exports to Europe during the first half of the present Iranian calendar year 1397 (March 21- September 22) increased by 112.9 percent in terms of weight and 26.33 percent in terms of value,Reported according to the latest data released by Islamic Republic of Iran Customs Administration (IRICA). During the first six months of […]

 Head of Securities and Exchange Organization (SEO) Shapour Mohammadi announced Sat. that Iran and Montenegro will set up a joint investment fund. A memorandum of understanding (MoU), which was inked between Iran and the  in 2010, came into effect during a meeting between the SEO chairman, Shapour Mohammadi, and senior political and economic authorities including deputy interior minister, […]

A trade delegation from Iran on Saturday visited Oman’s Ministry of Commerce and Industry and discussed means of enhancing Omani-Iranian relations in industrial, investment and economic fields. Leading a high-ranking delegation to Muscat, Mohsen Zarrabi, the head of Omani-Iranian Chamber of Commerce and a senior advisor to Iranian industries minister met with Omani Minister of […]