TEHRAN- According to OPEC’s latest monthly report published on June 12, oil production in Iran stood at about 3.829 million barrels per day (bpd) in May, an increase of 6,000 bpd from 3.823 million bpd in April, based on secondary sources. The OPEC’s report also announced Iran’s oil output based on direct communication. It said […]

The CEO of the automaker Renault said Fri. that French company will not leave Iran and will take measures to avoid the risk of US reinstated sanctions. According to France 24, Renault CEO Carlos Ghosn told its shareholders on Friday that they will not abandon Iran even if they have to downsize their activities very […]

TEHRAN- Iran is planning to become an exporter of technical and engineering services in gas sector, National Iranian Gas Company (NIGC) Managing Director Hamidreza Araqi announced. “We have already negotiated with some neighboring countries to export such services to them”, the official said in a press conference on Monday. “We, in NIGC, have materialized quantity […]

Iranian Ambassador to Baku Jahangirzadeh and Mehdiyev, the Chairman of the State Customs Committee of the Republic of Azerbaijan, vowed to increase bilateral cooperation especially in customs affairs. “The extension of working hours of the shared border-points of Iran and Azerbaijan is of prime importance for bolstering bilateral relations,” said Javad Jahangirzadeh, the Iranian Ambassador […]

 The monthly OPEC report says Iran’s crude oil production averaged 3.80mn bpd (million barrels per day) in May, near a nine-year high. Iran’s output increased after the US lifted the sanctions in January 2016. Iran’s crude oil exports reached 2.7 mn bpd in May—the highest level since the sanctions were lifted. Brent and WTI oil prices […]

Senior Adviser to the Ministry of Agriculture Esmaeil Esfandiaripour said, “with the coordination made in this regard, the country will be self-sufficient in wheat production in the current year (started March 21, 2018). In this regard, there is no need to import this strategic product into the country in the current year, he maintained. He […]

Two Iranian companies are staging their innovations and latest achievements at the17th International Caspian Transport Exhibition underway in Baku. Two Iranian companies are attending the 17th edition of TRANSCASPIAN / TRANSLOGISTICA, the17th Caspian International Transport, Transit and Logistics Exhibition in Azerbaijani capital city of Baku. The three day international event, which hosts 85 companies from […]

The 3rd International Industrial and Metalworking Technologies Exhibition dubbed ‘AMB Iran 2018’ will be held at Shahr-e Aftab International Exhibition, Tehran on June 26-29. So far, more than 140 exhibition pavilions from 12 countries [including Iran, Germany, Italy, France, the Netherlands, Austria, Switzerland, China, Taiwan, Japan, Czech Republic and Russia] have expressed their readiness to […]

The executive director of German Machine Tool Manufacturers Association (VDW) Wilfried Schäfer on Monday said that German companies are vehemently interested in continuing activity in Iran’s lucrative market after US pullout from JCPOA. In spite of US pullout from JCPOA (Joint Comprehensive Plan of Action), he emphasized that international community should take decisive steps to […]

Asian investors were cautious on Tuesday as they keep watch on the historic summit between Donald Trump and North Korean leader Kim Jong Un, and await key policy meetings at the Federal Reserve and European Central Bank this week. While the meeting is not expected to see any immediate results, it has provided hope for […]