Iran oil production amounts to 3.8 mn bpd. in May
The monthly OPEC report says Iran’s crude oil production averaged 3.80mn bpd (million barrels per day) in May, near a nine-year high. Iran’s output increased after the US lifted the sanctions in January 2016. Iran’s crude oil exports reached 2.7 mn bpd in May—the highest level since the sanctions were lifted. Brent and WTI oil prices […]
No need to import wheat in current year: official
Senior Adviser to the Ministry of Agriculture Esmaeil Esfandiaripour said, “with the coordination made in this regard, the country will be self-sufficient in wheat production in the current year (started March 21, 2018). In this regard, there is no need to import this strategic product into the country in the current year, he maintained. He […]
Iranian companies showcase innovations at Caspian Transportation Expo.
Two Iranian companies are staging their innovations and latest achievements at the17th International Caspian Transport Exhibition underway in Baku. Two Iranian companies are attending the 17th edition of TRANSCASPIAN / TRANSLOGISTICA, the17th Caspian International Transport, Transit and Logistics Exhibition in Azerbaijani capital city of Baku. The three day international event, which hosts 85 companies from […]
Tehran to host 3rd Metal Working expo in late June
The 3rd International Industrial and Metalworking Technologies Exhibition dubbed ‘AMB Iran 2018’ will be held at Shahr-e Aftab International Exhibition, Tehran on June 26-29. So far, more than 140 exhibition pavilions from 12 countries [including Iran, Germany, Italy, France, the Netherlands, Austria, Switzerland, China, Taiwan, Japan, Czech Republic and Russia] have expressed their readiness to […]
German firms eye extensive coop. with Iran after US JCPOA pullout
The executive director of German Machine Tool Manufacturers Association (VDW) Wilfried Schäfer on Monday said that German companies are vehemently interested in continuing activity in Iran’s lucrative market after US pullout from JCPOA. In spite of US pullout from JCPOA (Joint Comprehensive Plan of Action), he emphasized that international community should take decisive steps to […]
Asian markets fluctuate as Trump meets Kim, eyes on central banks
Asian investors were cautious on Tuesday as they keep watch on the historic summit between Donald Trump and North Korean leader Kim Jong Un, and await key policy meetings at the Federal Reserve and European Central Bank this week. While the meeting is not expected to see any immediate results, it has provided hope for […]
EU’s efforts to maintain trade with Iran a clear defeat for U.S.
TEHRAN- Iran’s Trade Promotion Organization (TPO) Head Mojtaba Khosrotaj said the European Union’s endeavors to preserve and continue trade ties with Iran is an obvious sign of defeat for the U.S. that has withdrawn from Iran’s nuclear deal. The official made the remarks in a press conference on Monday, and added that since the U.S. […]
Parl. to hold session on PSA, Renault project suspension
Iran’s Parliament will be holding an extraordinary session this week to review the contracts on joint ventures between Iranian and French carmakers as the European side has suspended projects to avoid US sanctions. A member of Iranian Parliament’s Committee on Industries and Mines told Mehr News correspondent on Monday that an extraordinary session will be […]
Foreign railway companies to keep contracts with Iran
Railway official Hossein Ashouri said Mon. that despite US sanctions, foreign railway companies have officially announced their decision to remain committed to their agreements with Iran. Speaking to reporters on Monday, Vice President of Operation and International Transportation at Railways of Islamic Republic of Iran (RAI), Hossein Ashouri, said he has no concerns over the implementation […]
Iran, China to use national currencies in trade exchanges
Iranian Minister of Economic Affairs and Finance (MEAF) Masoud Karbasian said, “under a Memorandum of Understanding (MoU) inked between Iran and China, the two countries will use their local currencies in trade exchanges.” Speaking on the sidelines of President Rouhani’s visit to China, he said, “concurrently, a number of four Memoranda of Understanding (MoUs) were […]