Near two weeks after U.S. President Donald Trump declared his decision on withdrawing from Iran’s nuclear deal, known as Joint Comprehensive Plan of Action (JCPOA), oil traders around the world are still following a “wait and see” strategy toward the consequences of Trump’s decision for Iran’s oil exports and market in general. Overall, there seems […]

TEHRAN – Iranian-German economist Mohssen Massarrat has said Iran should use the euro and maybe the yuan instead of the U.S. dollar in its transactions to hurt the U.S. economy. In an interview with the Shargh newspaper published on Sunday, Massarrat said such action has a low risk due to the Shanghai Cooperation Organization (SCO) […]

Abadan Refinery, Iran’s biggest refinery, has increased its gasoline production capacity to 12 million liters per day. According to Iran’s Oil Ministry’s official website ‘SHANA,’ the facility’s CEO Esfandiar Daem-o-Zekr has said that the plant’s petrol output was at 10 ml/d recently which has increased to 12 ml/d after launching 2 refining units at the facility. The […]

The European Union’s energy commissioner said he has submitted the EU proposal for direct transfers of money to Iran’s central bank, adding that the two sides are discussing the plan in details. Speaking to reporters after a meeting with Iran’s energy minister in Tehran on Saturday, Miguel Arias Canete highlighted the EU’s efforts to boost […]

Despite US pullout from Joint Comprehensive Plan of Action (JCPOA), some foreign car manufacturing companies have determined to leave Iranian market but most of them especially European car manufacturers still insisting on continuing their cooperation with the Islamic Republic of Iran. Car manufacturing companies are different from other foreign companies in this respect. When foreign […]

Minister of Industry, Mine and Trade Mohammad Shariatmadari said that Iran and Kazakhstan enjoy high potential and can double their trade volume significantly. Once brokerage relationship in the field of euro is launched between Iranian and Kazakh banks, the two countries can double their trade volume as well, he maintained. Speaking on the sidelines of […]

 In its latest report, US Energy Information Agency (EIA) announced that Islamic Republic of Iran holds fourth largest crude oil reserves in the world. In addition, EIA said that Iran owns second largest natural gas reserve in the world. Following lifting of sanctions imposed by US against Iran’s oil sector in 2016, Iran’s oil output […]

The chairman of National Association of Iranian Dates has put the value of Iran’s exported dates at $ 300 million. Mohsen Rashid Farrokhi said on Saturday that Iranian farmers produce different kinds of dates, adding that the main part of Iran’s date production is used in food, and low quality ones are used for animal […]

 Islamic Republic of Iran and Russian Federation will set up Parliamentary Economic Commission. For this purpose, a high-ranking Iranian trade and economic delegation visited High Council of Duma and Russian Federation Council. In addition, Chairman of Iranian Parliament Economic Commission Mohammad-Reza Pour-Ebrahimi met and conferred with Dmitry Mezentsev Chairman of Economic Commission of Russian Federation […]

Chief Executive of Iran Petrochemical Commercial Company (IPCC) Mehdi Sharifi Niknafs said that US pullout from Joint Comprehensive Plan of Action (JCPOA) will have no effect on the country’s petrochemical export volume. Predefined structures and mechanisms, which were created for export of petrochemicals during sanctions period, are still safeguarded, he said, adding, “under such circumstances, […]