A top Iranian energy official unveiled plans for a rise in natural gas exports to neighboring Iraq next year. In an interview with Tasnim on Saturday, Managing Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi said the country’s exports of natural gas to Iraq will increase during the spring and summer of […]

TEHRAN- Development of Iran’s railway requires $28 billion investment, Transport Minister Abbas Akhoundi announced on Saturday. Saying that development of railway transportation is emphasized by Supreme Leader Ayatollah Khamenei, the minister stated that not only does railway transportation lead to economizing on fuel consumption, it boosts safety as well. He went on to say that […]

TEHRAN- In a meeting with Iranian Industry Minister Mohammad Shariatmadari in Tehran on Saturday, Qatar’s Economy Minister Ahmed bin Jassim Al Thani called for the expansion of economic relations with Iran. After the meeting with Al Thani, where the two minister discussed enhancement of mutual trade volume and removal of the related barriers in this […]

Iran has a specific focus on increasing economic growth rate and seeks the target via reducing its reliance on oil revenues, as well as fostering a knowledge-based economy which is believed to have a high positive impact on increasing domestic production. However, knowledge-based products are intangible and non-excludable goods, which makes it difficult for their […]

TEHRAN – The two-day conference focuses on the latest national, regional, and international developments in gas and petrochemical industry. Representatives from eighteen countries including fourteen European, three Asian countries and one from the Americas are attending the event. It will end tomorrow, 26th of November. The latest developments in the gas and petrochemical industry at […]

TEHRAN – Iran’s Oil Minister Bijan Namdar Zanganeh denounced comments by US President Donald Trump that the international oil market would remain normal by cutting purchases from Iran. Iran is supplying up to 2.5 million barrels of oil per day to the world market, Zanganeh told ICANA, saying a cut in this amount of Iranian […]

TEHRAN- Iran produced 1.98 million tons of crude steel during October 2017, with a 24.2 percent rise from 1.597 million tons in the same month last year, according to the World Steel Association (WSA). The WSA also announced that the country’s crude steel production stood at 17.901 million tons during the first ten months of […]

TEHRAN- In a Tuesday meeting between Austria’s minister for science, research, and economy and the visiting head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), the two sides discussed expansion of bilateral economic ties, IRNA reported. During the meeting, referring to Austria’s ex-president’s visit to Iran after implementation of Iran’s nuclear deal in […]

TEHRAN- Iran is offering discounts to the Asian customers of its crude oil in a bid to retain them. The country hopes that price reductions will boost the appeal of its crude compared with other Middle Eastern supply even as the potential threat of further U.S. sanctions on the country looms, Reuters reported on Wednesday. […]

TEHRAN- 31st World Islamic Economic Forum (WIFE) started operation in Kuching, Malaysia, on Tuesday with participation of Iranian Minister of Communication and Information Technology Mohammad-Javad Azari Jahromi, IRNA reported. Addressing the forum, Azari Jahromi said that to prepare a roadmap for Organization of Islamic Cooperation (OIC) and Islamic Development Bank (ISDB) studies should be conducted […]