IFX, the main index of Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), hit a record high of 1,771 points on Friday, gaining 62 percent since the beginning of the current Iranian calendar year (March 21), IRIB reported. The IFB benchmark index has gained 14 percent since the beginning of the sixth […]

Some 110 trillion rials (nearly $2.6 billion) worth of mining projects are scheduled to be inaugurated by the end of the current Iranian calendar year (March 20, 2019). The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has already completed $2.2 billion worth of mining projects during the previous Iranian calendar year (March […]

Iran’s nine major steel companies produced over 7.85 million tons of steel ingots during the first five months of the current Iranian calendar year (March 21-July 21), up 15 percent from last year’s same period. The country’s steel ingot output stood at 21.8 million tons, of which over 6 million tons were exported to the […]

Iran’s OPEC governor Hossein Kazempour Ardebili has said the country’s rival producers cannot make up for the shortfall resulted from a complete halt in Iranian oil exports, Reuters reported on Friday. According to the official, U.S. cannot reach its zero export target since the oil market is already tight and “There is no spare capacity […]

Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari says that Iran will break its own records with producing 10 tons of gold in the current Iranian calendar year of 1397. Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said Sat. that Iran has recently registered an annual production of 90 million tons of […]

The U.S. is reportedly considering granting a waiver to the Iranian port of Chabahar that would permit trade there despite the return of U.S. sanctions against trading with Iran. Chabahar is Iran’s southernmost city, its only deep-water port and the anchor of the Chabahar-Hajigak corridor, a road and rail connection between the Indian Ocean and […]

Iran produced 3.584 million barrels per day (bpd) of oil in August, a 150,000 bpd decrease from 3.734 million bpd in July, according to OPEC’s latest monthly report published on September 12 citing secondary sources. The OPEC’s report also put Iran’s oil output based on direct communication at 3.806 million bpd, unchanged compared to July. […]

The Central Bank of Iran (CBI) has paid €3.2 billion to import basic goods during the past month, according to the central bank governor. “In the past month, 1.8 billion euro has been paid for importing basic goods including oil, meat, rice, medical equipment, etc., while 1.4 billion euro has been supplied by the domestic […]

 Iranian President Hassan Rouhani appointed the ex-governor of the Central Bank of Iran (CBI), Valiollah Seif, as his special advisor for monetary and banking affairs. Despite the critics repeatedly lashed out at Seif for his policies, in particular those about foreign currency market during his office at CBI, Rouhani selected him as his advisor in […]

 US sanctions on Iran’s energy industry, when they come into effect in November, could potentially drive oil prices above $100 per barrel, according to an industry expert. US West Texas Intermediate crude oil futures traded at about $68 per barrel on Tuesday, while Brent crude futures sat at nearly $78, CNBC reported. “If there was […]