Central Bank of Iran (CBI) has predicted all scenarios in case of US withdrawal from the Joint Comprehensive Plan of Action (JCPOA), the official title of nuclear deal. Central Bank of Iran (CBI) Governor Valiollah Seif made the above remark and said, “CBI has forecast different scenarios in case of US pullout from JCPOA, so […]

TEHRAN- Iran’s light crude oil price rose $1.68 in the week ended on April 20 to reach its highest record in 2018. The Iranian light crude price settled at $69.79 per barrel in the mentioned week, IRNA reported on Saturday. The country’s light oil price was reported $65.39 on average since the beginning of 2018 […]

TEHRAN – Some 37.5 trillion rials (about $889.5 million) worth of banking facilities were provided to Iranian knowledge-based companies during the past Iranian calendar year (March 2017-March 2018), Mehr news agency reported on Saturday. According to Central Bank of Iran (CBI), only in the last month of the past calendar year (February 20-March 21, 2018) […]

TEHRAN – “The flare gas recovery unit of Parsi oil field in southwestern Iran will start operating on Saturday”, Shana reported on Friday quoting an oil official. According to Mohsen Paknejad, National Iranian Oil Company (NIOC)’s deputy managing director in production affairs, the mentioned unit is the first of its kind established through private sector’s […]

 Islamic Republic of Iran, Russia and Azerbaijan Republic discussed connecting electrical grids of the three countries and creating a North-South electricity corridor. The trilateral meeting was attended by Azerbaijan Republic’s Deputy Oil Minister Natiq Abbasov, Iranian Deputy Minister of Energy Homayoun Haeri and Deputy Energy Minister of Russian Federation. For his part, Haeri Iran’s Deputy […]

TEHRAN- Two Iranian airliners, Iran Airtour and Aseman Airlines, signed memorandums of understandings with Russian aircraft manufacturer Sukhoi on the purchase of 40 aircrafts from the Russian company. Based on the MOUs signed on April 25 on the sidelines of the Eurasia Airshow in Turkey, each airliner will receive 20 Sukhoi Superjet-100 (SSJ-100) passenger planes, […]

TEHRAN – The value of trade between Iran and African countries increased by 23% in the past Iranian calendar year 1396 (ended on March 20, 2018), compared to its preceding year, the portal of Trade Promotion Organization of Iran (TPO) reported. According to Director General of TPO Arabic-African Affairs Office Farzad Piltan, the value of […]

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 […]