Iran’s Oil Minister Bijan Namdar Zanganeh denounced the US call on Saudi Arabia to hike up its oil output as an insult to the sovereignty of members of the Organization of the Petroleum Exporting Countries, saying such political moves would cause instability in the oil market. OPEC has been basically founded to separate the oil […]

Oil will soon cost $100 per barrel due to supply disruptions caused by US President Donald Trump, Iran’s OPEC Governor told Reuters on Thursday, warning that expectations that Saudi Arabia and Russia would help bring down prices were in vain. Iranian OPEC Governor Hossein Kazempour Ardebili told Reuters that Trump “should have expected” when blocking […]

The South Korean embassy in Tehran denies claims by some media that South Korea would not lift any Iranian crude and condensate in July for the first time over the past six years. Reuters in a report on Friday quoted familiar sources as saying that South Korea would not lift any Iranian crude and condensate […]

With Iranian Expediency Council approving the TAC (the Treaty of Amity and Cooperation in Southeast Asia) on Saturday, Iran joined the international agreement. The Expediency Council of Iran approved the bill to join Iran to TAC (the Treaty of Amity and Cooperation in Southeast Asia) on Saturday. The members of the council convened for the […]

Governor of the Central Bank of Iran (CBI) Valiollah Seif revealed the implementation of monetary treaties with the countries including Iraq, Russia and Republic of Azerbaijan. Turning to the situation of monetary treaties, he said, “we are fully aware of the bilateral and multilateral monetary treaties and in this regard, monetary treaties have been inked […]

 A Chinese company signed an agreement – within the framework of joint venture (JV) contract – with Iran on financing water supply project in northeastern part of Khuzestan province. For this purpose, a Memorandum of Understanding (MoU) was inked between Khuzestan Water and Power Authority (KWPA) and Chinese SEPCO for launching water supply project in […]

TEHRAN- Iran produced 13.2 million tons of petrochemical products during the three-month period from the beginning of current Iranian calendar year (March 21), Qodratollah Farajpour, director for production control in National Petrochemical Company (NPC), announced. As NPC Managing Director Seyed Reza Norouz-Zadeh has informed, 60 petrochemical projects with the nominal capacity of 65.4 million tons […]

TEHRAN- According to Iranian deputy finance minister, the government has granted 200 trillion rials (above $4.68 billion) to protect domestic production projects in the present Iranian calendar year (ending on March 20, 2019). “Despite its budget deficiency, the government has allocated the announced figure to supply the working capital of the Iranian production units and […]

TEHRAN – Chinese Ambassador to Tehran Pang Sen said on Wednesday that illogical and wrong policies of the U.S. President Donald Trump will leave no impact on the expansion of Tehran-Beijing relations. The Chinese ambassador made the remarks in a meeting with the dead of Iran-China parliamentary friendship group Alaeddin Boroujerdi on Wednesday, IRNA reported. […]

ATR Chief Executive Christian Scherer said the Franco-Italian company will sustain “serious damage” to its finances if its contract with Iran breaks under US pressure. According to Reuters, ATR Chief Executive Christian Scherer has been in talks with the US Treasury, urging the Trump administration to unblock the export of about six regional planes to […]