TEHRAN – Iran’s light crude prices moved up by over one dollar to reach as high as 54 dollars per barrel in the week leading to September 15. In the seven days leading to September 15, Iran’s light crude prices grew by $1.60 climbing to 54 dollars and one cent a barrel while the average […]

Russian Energy Minister Alexander Novak says deliveries of Iranian crude to his country under the “oil-for-goods” program can start shortly. Asked in Vienna on Friday when he thought the long-heralded deliveries would finally begin, Novak said, “I hope, in the coming future,” Russia’s Tass news agency quoted him as saying. “Arrangements are at the finalizing stage,” […]

TEHRAN – The managing director of the Islamic Republic of Iran Shipping Lines (IRISL) said Iran and Kazakhstan have established a joint shipping company in a bid to boost their bilateral trade. Iran and Kazakhstan’s state-owned railway company have set up a joint shipping company to connect Central Asia to southern Iran, Mohammad Saeedi told […]

TEHRAN  – Iranian exports of ultra-light crude oil are set to fall to a five-month low in October due to maintenance at the giant South Pars natural gas field, a source said. The source with knowledge of Iran’s preliminary tanker schedule said on Friday that the National Iranian Oil Co (NIOC) has informed buyers in […]

Brazil has voiced interest in looking for hydrocarbon reserves in the Iranian share of the Caspian Sea. This was announced by Brazil’s Ambassador to Tehran Rodrigo de Azeredo Santos in a meeting with Yousef Etemadi, the acting managing director of Iran’s Khazar Exploration and Production Company (KEPCO). Santos emphasized that Brazil’s Petrobras was ready to […]

TEHRAN – Iran’s oil revenues from crude oil and gas condensate exports exceeded $23 billion since the beginning of current Iranian calendar year (March 21, 2017), IRIB news reported on Wednesday. According to the report citing Shana, Iran has exported 2.6 million barrels of crude oil and gas condensate on average on a daily basis. […]

TEHRAN – President of Iran said the country is prepared to supply Pakistan’s needs for energy and to construct power plants across the border areas to export electricity to its neighbor. “We are ready to supply energy to Pakistan, and also welcome the Pakistani investors in this sphere,” President Hassan Rouhani said in a meeting […]

TEHRAN – Iran plans to reduce gas exports to Asia due to some maintenance in its giant South Pars gas field, Reuters reported on Tuesday quoting industry sources. According to the report, National Iranian Oil Company (NIOC) may cut exports by at least 1 million barrels in the mentioned month. The company typically exports about […]

ANKARA  – As economic relations between Turkey and Iran enter an “active” period, trade volume between the two countries is expected to potentially exceed $100 billion, according to Iranian Ambassador to Ankara Mohammad Ebrahim Taherian Fard. Speaking to Turkish daily Dünya, Ambassador Fard said that meetings of the Joint Economic Commission (KEK) and other organizations […]

TEHRAN – The French Ministry for the Economy and Finance is planning to grant a €70 million loan to Iran for the renovation of the country’s airport equipment and radars, said Jean-Baptiste Lemoyne, secretary of state to the minister for Europe and foreign affairs in a meeting with Abbas Akhoundi, the Iranian Minister of Roads […]