Iranian Minister of Oil Bijan Namdar Zanganeh said on Tuesday that tensions in the oil market are not caused by supply and demand imbalance but by political issues. He made the remarks before leaving Tehran for Vienna where he is going to attend at Organization of Petroleum Exporting Countries (OPEC) meeting. Elsewhere in his remarks, […]

By using financial resources of Islamic Development Bank (IDB), ECO Trade and Development Bank and also Asian Infrastructure Development Bank (AIDB), Energy Ministry initiated development of water and power projects, worth €2.7 billion euro, in the country. Minister of Energy Reza Ardakanian made the above remark in 12th International Energy Conference (IEC) and said, “in […]

TEHRAN- Production line of domestically-manufactured 1,300-horsepower diesel engine was launched on the sidelines of the 6th International Exhibition of Rail Transportation, Related Industries & Equipment of Iran (Iran Rail Expo 2018) in Tehran on Tuesday. As IRNA reported, Iranian senior officials including Defense Minister Amir Hatami, Industry Minister Mohammad Shariatmadari and Transport Minister Abbas Akhoundi, […]

Over 90 foreign companies are attending the 6th International Exhibition of Rail Transportation, Related Industries & Equipment of Iran (Iran Rail Expo 2018) which kicked off on Tuesday at the Tehran Permanent International Fairgrounds. As reported by IRIB, along with the foreign exhibitors, 200 Iranian companies are also showcasing their latest products and services in […]

Following the US pullout from JCPOA, the country has predefined three scenarios ahead of its ailing economy in sanctions period. Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Masoud Khansari made the above remark and said, “circumvention of sanctions, exacerbation of sanctions and negotiation are considered as three scenarios predefined in sanctions […]

Iranian Minister of Agriculture Mahmoud Hojjati said on Monday that domestic agricultural products have increased by 25 percent during last five years. Touching on the growth of agricultural productions, he highlighted that this increase is the result of improving efficiency of planting and irrigation methods. Hojjati made the remarks on a conference held on the […]

The director general of Esfahan Steel Company (ESCO) said Mon. that the first domestically-constructed rail tracks have been handed over to Iran’s Railways, saying the rails are on par with the latest global standards. According to the Public Relations Department of the Esfahan Steel Company (ESCO), the first consignment of domestically-produced railway tracks was unveiled […]

As the Organization of Petroleum Exporting Countries (OPEC) prepares to meet later this week in Vienna, tension is rising among some of the cartel’s biggest members on what is said to be one of OPEC’s biggest decisions since its establishment. On June 22, OPEC members along with Russia are going to gather once again to […]

TEHRAN – Iran’s representative to OPEC, Hossein Kazempour Ardebili, said Iran along with Venezuela and Iraq is going to veto Saudi Arabia’s proposal to increase oil production in cartel’s June 22 meeting in Vienna. Speaking to Bloomberg on Sunday, Kazempour said “If the Kingdom of Saudi Arabia and Russia want to increase production, this requires […]

 Iran’s representative to OPEC said Sun. that the three bloc members, including Iran, Venezuela and Iraq, will veto Saudi Arabia’s proposal to increase oil production in Vienna this week. Speaking to Bloomberg, Kazempour Ardebili said the three OPEC founders, including Iran, Venezuela and Iraq, are going to stop a proposal to increase oil production that’s […]