TEHRAN– Iranian oil minister said on Tuesday that the Turkmenistan-Afghanistan-Pakistan-India Pipeline (TAPI) is unlikely to be built, blaming the Pakistani side for failing to complete Iran-Pakistan pipeline. Referring to the construction of a pipeline to transfer gas from Turkmenistan to the Indian subcontinent with Saudi Arabia’s finance, Bijan Namdar Zanganeh said “there are barriers to […]

TEHRAN- Iranian Privatization Organization (IPO) has transferred 4.054 trillion rials (about $89.59 million) worth of the state-run shares to the private sector during the ten-month period ended on January 20, Tasnim news agency reported on Monday. The government envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about […]

TEHRAN- The 5th Iran Automotive Industry International Conference (IAIIC) will be held in Milad Tower of Tehran on February 13 and 14, ISNA reported on Monday. As reported, representatives from the world’s renowned carmakers including Peugeot, Renault, Nissan, Mercedes Benz, Volkswagen, Hyundai, Volvo and Scania will participate in the conference. Chinese carmakers including Brilliance Auto […]

TEHRAN- In a meeting with the Central Bank of Iran (CBI) Governor Valiollah Seif, the Swiss Ambassador to Tehran Marcos Lightner expressed his country’s eagerness for the expansion of banking ties with the Islamic Republic. He also said that they are encouraging their banks for more cooperation with the Iranian banks, the portal of CBI […]

TEHRAN- Production from five oilfields of West Karoun region in southwestern Iran has reached 305,000 barrels per day (bpd), Shana reported on Sunday quoting Iranian oil minister. Bijan Namdar Zanganeh noted that the West Karoun oilfields output was 110,000 bpd in the past Iranian calendar year (ended on March 2017). According to Iran’s Petroleum Engineering […]

TEHRAN- Iran exported 4.614 million tons of crude steel during the nine-month period ended on December 21, with 80 percent rise from 2.565 million tons in the same period of time in the preceding year, Iranian Steel Producers Association announced. Also, the country’s crude steel output witnessed a 16-percent growth in the mentioned nine-month period […]

International bourse will be set up in Special Economic Zones. Secretary of Supreme Council of Free and Special Economic Zones Morteza Bank made the above remarks and said, “good and fair interactions were made with the representatives as member of Parliament Economic Commission, so that there is a logical and principled understanding on the establishment […]

Iranian Minister of Petroleum Bijan Zangeneh says Iran will undergo no damages if the French energy major, Total, fails to invest 500 million dollars in a major gas project in Iran by mid-2019. “If the French company, Total, fails to bankroll at least $500 million in the South Pars 11 project by mid-2019, the Iranian […]

TEHRAN – Iran is expected to export over one million tons (mt) of sponge iron by the end of the present Iranian calendar year (March 20), IRNA reported quoting the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) as saying. The exports of sponge iron, also known as direct-reduced iron […]

Implementation of a contract to electrify the Garmsar-Sari-Gorgan-Inche Burun route in Iran, signed between the Islamic Republic of Iran Railways (IRIR) and Russian railway operator RZD International, will take four years, a report said. The Russian firm said in the report that as part of the contract, RZD International will train IRIR engineers and technicians […]