TEHRAN- Iran will reach a stable status in gasoline production once the second phase of Persian Gulf Star Refinery comes on stream, Oil Minister Bijan Namdar Zanganeh told IRNA on Saturday. He said the second phase is scheduled to be inaugurated by the end of current Iranian calendar year (March 20, 2018). The average daily […]

TEHRAN– Chinese energy giant CNPC could take over Total’s stake in a major Iranian gas project if the French company is forced to leave Iran over any new US sanctions, media reported. Total signed the $1 billion deal to develop the South Pars gas field this year. According to the company, the project will produce […]

TEHRAN – Iran’s largest auto manufacturer, Iran Khodro Industrial Group (IKCO), has opened production line for two new vehicles on Saturday. The Iranian Parliament Speaker Ali Larijani and the Minister of Industry, Mines and Trade Mohammad Shariatmadari visited Iran Khodro Industrial Group in order to give speeches at the inauguration ceremony for the manufacture of […]

TEHRAN – Iranian 1st Vice-President Es’hagh Jahanigiri said on Sat. that the country needs the experiences of other countries across the world if it wants to improve its economic conditions. Speaking at the second Iran’s Economy Conference currently underway in Tehran, Es’hagh Jahanigiri said that “whenever the enemies of the Iranian nation want to threaten Iran, […]

TEHRAN – The Trump administration is devising a new scheme to block planned sales by Boeing Co. and Airbus SE to Iran, a US source said. A State Department official, who asked not to be identified, said the administration would not issue export licenses for sales to Iran “unless they are convinced the aircraft will […]

TEHRAN- According to OPEC’s latest monthly report published on December 12, oil production in Iran stood at 3.818 million barrels per day (bpd) in November, falling 2000 bpd from 3.820 million bpd in October, based on secondary sources. The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil […]

TEHRAN- South Korea imported 17 million tons, or 372,890 barrels per day (bpd), of Iranian crude oil during the first 11 months of 2017, with 36.5 percent rise from 12.45 million tons over the same period last year, according to the customs data. Although, South Korea’s imports of Iranian crude oil fell 9.5 percent in […]

TEHRAN – China National Petroleum Corporation (CNPC) is weighing taking over Total’s stake in Iran’s South Pars gas field project if the French company leaves to avoid possible U.S. sanctions, Reuters reported citing industry sources. Under the terms of the agreement to develop phase 11 of South Pars, the world’s largest gas field, CNPC could […]

The economies of Iran and China complement each other, Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said, stressing that the target of an average annual trade of $60 billion is within reach. In a meeting with chairman of China’s private sector chamber of commerce in Tehran on Wednesday, Shariatmadari stressed the need for […]

An official at the Ministry of Industry said the incumbent government had approved of two billion dollars of foreign investment in 38 projects at industry, mining and commerce sectors. Director-General of Foreign Investment Affairs at the Iranian Ministry of Industry, Mine and Trade Afrooz Bahrami said, since the previous government took office, as many as […]