TEHRAN- Persian Gulf Star Refinery’s first consignment of liquefied petroleum gas (LPG) was traded in Iran Energy Exchange (IRENEX) on Sunday, Shana news agency reported. The 2,000-ton consignment was offered at the price of $585 per ton in the international ring of the physical market of IRENEX. Seyed Ali Hosseini, the managing director of IRENEX, […]

TEHRAN – There is no obstacle to Iran’s full membership in the Shanghai Cooperation Organization (SCO), Iranian Ambassador to Beijing Ali Asqar Khaji has said. Iran has officially applied for membership in the SCO, Khaji told Radio Eghtesand on Sunday, Trend reported. Iran has an observer status in the organization. Describing Russia, China, India and […]

Chairman of Iran and Russia Joint Chamber of Commerce Hadi Tizhoush Taban here on Sunday revealed the selection of Krasnodar province in Russia as Iran’s new goods export destination and said, “this Russian province is suitable for the export of Iranian industrial, construction and agricultural products in particular.” He pointed to the vast area of […]

Iranian Minister of Oil Bijan Namdar Zanganeh said that planning is underway for increasing oil production volume from 29 oilfields. He expounded on the bylaw ratified by the Council of Economy on increasing oil production volume from 29 oilfields and added, “by implementation of this comprehensive plan, 460 million barrels of oil per day (bpd) […]

TEHRAN – Iran’s OPEC Governor Hossein Kazempour Ardebili on Friday slammed the U.S.’s request for Saudi Arabia to pump more oil so that it could cover a drop in Iranian exports, saying that OPEC would not comply with such requests. “It’s crazy and astonishing to see instruction coming from Washington to Saudi to act and […]

Governor of Central Bank of Iran Valiollah Seif pointed to the high volume of trade between Iran and China, saying that using Rial and Yuan can overcome problems regarding monetary exchanges. “Regarding the volume of bilateral trade, the use of appropriate payment mechanisms, such as the use of local currencies, can solve financial transactions and […]

TEHRAN- In its latest report, titled as Global Economic Prospects (June 2018), the World Bank (WB) has predicted a 4.1 percent gross domestic product (GDP) growth for Iran in 2018. In the Islamic Republic of Iran, inflation edged downwards to about 8 percent in April from 10 percent at the end of last year, as […]

TEHRAN- The capacity of generating electricity from renewable resources has reached 575 megawatts (MW) in Iran, the Energy Ministry has recently announced, IRNA reported on Friday. Power plants based on clean energy resources with the capacity of 550 MW are currently under construction in the country. According to Iranian Deputy Energy Minister Homayoon Haeri, Iran’s […]

TEHRAN – India is mulling over using Euro as well as the rupee to continue trade with Iran during the new rounds of the U.S. sanctions on Tehran. According to Telegraph India, the country’s UCO Bank will be undertaking the rupee trade with Iran as it used to do during the earlier round of sanctions. […]

Iranian Minister for Cooperatives, Labor and Social Welfare, Ali Rabiei, will take part in the 107th Session of the International Labour Conference (ILC 2018) in Geneva, Switzerland. Meeting with labor ministers from South Africa, Kazakhstan, Bulgaria, Finland, Ireland and Croatia are also on Rabiei’s agenda during his stay in Geneva from 4-7 June. He will deliver a speech at […]