Chief executive of Iranian Oil Pipelines and Telecommunications Company (IOPTC) Abbas-Ali Jafarinasab said that more than 80 percent of parts and equipment related to the oil pipelines and telecommunications is manufactured inside the country. Manufacturing required parts and equipment inside the country has been put atop agenda since 1993, he said, adding, “this issue caused […]

TEHRAN – National Iranian Oil Company (NIOC) has raised the June official selling price (OSP) for all its crude grades loading for Asia, Platts reported quoting a company source as saying on Wednesday. As reported, The OSP for Iranian Light crude was raised by 70 cents per barrel to a premium of $2 per barrel […]

TEHRAN- Following President Trump’s withdrawal from Iran’s international nuclear deal last Tuesday, Advisor to Iranian Transport Minister Asghar Fakhrieh Kashan announced on Friday that no down payment has been made by Iran to aircraft manufactures Airbus and Boeing, so the country would incur no loss in consequence of Trump’s decision, Fars news agency reported. As […]

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Donald Trump’s decision on abandoning the nuclear deal is not going to have a great impact on Iran’s oil, gas and gas condensate exports and revenue, IRIB reported on Friday. In a live TV interview on Thursday night, Zanganeh noted that over 65 percent of the […]

TEHRAN- Some 7.7 quadrillion rials (about $183.3 billion) of capital is needed per annum to reach eight percent economic growth, Mohammad Baqer Nobakht, the head of Management and Planning Organization of Iran, was quoted as saying by IRNA on Wednesday. Referring to the 3.2 million unemployed work force in Iran, Nobakht said despite the fact […]

Mohammad Meshkinfam Managing Director of Pars Oil and Gas Company (POGC) said Wed. that an Iranian company along with China’s CNPCI will complete South Pars phase 13 after a probable Total exit from the project. “We have imported enough number of CRA (corrosion resistant alloy) pipes for South Pars phase 13 oil wells in positions […]

Head of Center for Contemporary Iranian Studies in Russia Recep Safarov said that Islamic Republic of Iran and Russia can play a decisive role in changing the international conditions in terms of politics and economy. “Iran can be the center stage of economy in the world,” he said, adding, “Iran and Russia in tandem with […]

Valiollah Seif, the Governor of the Central Bank of Iran (CBI), reassured on Wednesday that there would be no problem for Iran’s economy after Trumps withdrawal from the JCPOA. “Trump’s administration is doing its utmost to unload the heaviest burden on the Islamic Republic of Iran with the lowest cost for US,” said Valiollah Seif, […]

TEHRAN- The mananger of the Japanese pavilion at the 23rd Iran International, Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2018) voiced his country’s readiness for granting licenses to Iranian petrochemical companies. As IRIB quoted Kenichi Saito, Japanese companies attending Iran Oil Show, including Mitsubishi Chemical Corporation, Mitsui Chemicals, and Sumitomo Chemical Company, are […]

TEHRAN- Managing Director of Iran’s flag-carrier Iran Air Farzaneh Sharafbafi announced on Wednesday that the company will announce its final decision about the purchase of aircrafts from Airbus and Boeing within two weeks, Tasnim news agency reported. Iran Air will make decisions regarding new policies of the Iranian government towards the agreements with the two […]