Iranian Minister of Energy Reza Ardakanian said that cutting electricity export to Iraq is based on a bilateral agreement which says that the priority is fulfilling domestic demands. He made the remarks on Tuesday on the sideline of signing an MoU with the Ministry of Information and Communications Technology. Every international contract in the domain […]

 Iran’s oil exports could fall by as much as two-thirds by the end of the year because of new U.S. sanctions, putting oil markets under huge strain amid supply outages elsewhere in the world, Reuters reported today. Washington initially planned to totally shut Iran out of global oil markets after President Donald Trump abandoned a […]

The Vice-Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) says that Europe does not want a volatile Middle East, adding the Europeans have allocated $80 billion to Iranian small and medium enterprises. Pedram Soltani said on Monday in a meeting in Tehran that given the damages Europe suffered in Iraq and Syria […]

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 […]