In a bid to bolster its foreign trade and also elevate its transit status, Iran has some projects underway to develop its ports which are located in north and south of the country. Development of ports includes a wide range of projects from construction of docks to building railways to carry commodities from the ports. […]

TEHRAN- Oil, gas and petrochemical sectors as the driver of Iran’s economy require $200 billion of investments for development in the coming years, Oil Minister Bijan Namdar Zanganeh said on Tuesday. Speaking in a session of Majlis (Iranian parliament), the minister said if such investment is made in these sectors, national economy will witness a […]

Deputy Minister of Oil Hamid Reza Araqi put the daily export of gas to neighboring Turkey at 30 million cubic meter (mcm) and said, “under the contract, pertinent gas export income will be injected into the public treasury fund.” Speaking in 4th “Sustainable Gas Production” Conference, he said, “gas bill subscription cut has reduced considerable […]

TEHRAN- The Central Bank of Iran (CBI) officially banned the use of cryptocurrencies, such as bitcoin, in financial transactions. The act is to prevent crimes such as money laundering and terrorism, the Public Relations Department of CBI announced. The ban applies to all monetary and financial centers of the country, including banks, financial institutes and […]

TEHRAN – Oil Minister Bijan Namdar Zanganeh said Iran is not going to hand over the development of South Pars oil layer to Total since the French oil giant has taken over Danish Maersk’s oil division with which Iran was negotiating the project. Speaking to the press on the sidelines of a signing ceremony event […]

Head of Iran National Carpet Center Hamid Kargar said that Iran’s handwoven carpet has found new markets in China, Russia and South Africa as well as some Latin American countries, along with its traditional markets like US, Germany and Italy. Speaking in an interview with MNA correspondent on Tuesday, he added, “typically, Iran’s handwoven carpet […]

Managing Director of Iranian Gas Transmission Company (IGTC) Saeed Tavakkoli said that daily gas transmission capacity will hit over one billion cubic meters in 2025. He put the annual gas production capacity at 400 billion cubic meters in the same period. Turning to the gas transmission volume in the past Iranian calendar year in 1396 […]

TEHRAN- Norway’s ORG Company’s result of studies on four blocks in the Caspian Sea is promising for extraction of oil and gas reserves, according to Gholamreza Manouchehri, the deputy for development and engineering at the National Iranian Oil Company (NIOC). ORG submitted the result of its studies related to Sardar Jangal and three other exploration […]

TEHRAN- The value of Iran’s car imports during the first Iranian calendar month Farvardin (March 21-April 20) fell 77 percent compared to the same month of the past year, IRNA reported on Sunday citing the data released by the Islamic Republic of Iran Customs Administration (IRICA). Iran imported 1,034 cars worth $23.651 million in the […]

TEHRAN- Iran exported over 22.41 million tons of petrochemical products worth more than $12 billion in the past Iranian calendar year (ended on March 20), IRIB news reported citing the data released by National Petrochemical Company (NPC). Exports from Assalouyeh and Mahshahr petrochemical zones, both in southwest of the country, stood at 11.423 million tons […]