Iran, for long, has been using buy-back oil contracts in deals with foreign companies who worked on developing the country’s oil and gas fields. But in recent years, some issues attributed to the buy-back model have made this kind of contracts less attractive to foreign companies, thus, encouraging the oil-rich country to introduce a new […]

The Iranian stock market has witnessed some first-ever successful experiences in the current Iranian calendar year, ending March 20, both in national and international transactions and also in terms of science and training. On September 10, 2017, the country’s first-ever data vending deal was signed between Iran Financial Center (IFC) and Greece’s Inforex S.A. Based […]

Energy Minister Ardekanian said Wed. that the second power transmission line from Turkmenistan to Iran will come back on stream after six months of having been out of service. Iranian Minister of Energy, Reza Ardakanian, who traveled to Turkmenistan as part of a delegation accompanying President Rouhani, said Wed. that “following the negotiations held during […]

TEHRAN – Iran exported $14.64 billion of industrial products and $1.937 billion of mineral products in the first 11 months of the past Iranian calendar year, an increase of 9.1 percent and 60.3 percent respectively year on year, ISNA reported. The country exported $8.4 billion of minerals during the 11-month period ended on February 19, […]

TEHRAN – Some 500 trillion rials (around $10.5 billion) was invested in development projects in the previous Iranian calendar year, ended on March 20, said Mohammad Baqer Nobakht, head of Budget and Planning Organization. Moreover, 172 trillion rials (around $3.5 billion) of bank loans was paid to manufacturing units of the private sector, IRNA quoted […]

The trade measures that the US and China have taken against each other could have a negative impact on the global economy, Moody’s said on Friday. The US President Donald Trump said he will impose tariffs of $60 billion on Chinese imports on Thursday. In return, Beijing later announced retaliatory tariffs of $3 billion on […]

Iranian and Irish authorities in an expert-level meeting underscored the two countries’ enthusiasm for further development of bilateral relations and cooperation in all fields, especially economic spheres. The meeting was held between Iranian Ambassador to Dublin Javad Kachouiyan and Chairman of Ireland’s Committee on Foreign Affairs and Trade Brendan Smith. During the meeting, they exchanged […]

Policymaking Chief of the United States Department of the Interior Robert Hooke in his recent statement spoke on hesitating issuance of licenses to sell aircraft to the Islamic Republic of Iran. In his weekly press briefing on late Wednesday, top US negotiator confirmed Iran’s concerns about the issue that US President Donald Trump should yet […]

The World Steel Association (worldsteel) estimates show that Iran is the 13th country of the world in steel production out of the 66 countries producing the alloy. Iran is the thirteenth in the world in terms of producing steel with 21.7 million tones production in 2017 which has seen a 4.21 percent production increase against […]

Iranian Oil Minister Bijan Namdar Zanganeh praised the capabilities of domestic energy companies to develop oil and gas fields and said the country has more than 100 fields, which can be developed by the Iranian exploration and production (E&P) companies. Speaking at a ceremony to sign a contract between the National Iranian Oil Company (NIOC) […]