TEHRAN – The ambassador of the UK to Tehran has expressed his satisfaction over signing economic deals with Iran. “Pleased to see high profile projects between Iran and UK-based companies generating so much interest and supporting,” Nicholas Hopton wrote in his twitter account on Monday. UK renewables investor Quercus has signed a deal worth 800 million […]

TEHRAN – Iranian gas condensate exports to Asia are expected to remain strong for the rest of the year as South Korea eyes 250,000 barrels per day (bpd) of South Pars condensate in Q4, Platts quoted two sources with close knowledge of Iran-South Korea term deals. According to the report, Hanwha Total Petrochemicals has been […]

TEHRAN – Iran will maintain its crude oil and condensate exports at around 2.6 million barrels per day for the rest of 2017, Reuters reported on Monday quoting a senior official in National Iranian Oil Company (NIOC). “Iran’s crude exports won’t be affected by Donald Trump’s intensifying offensive against the country,” Saied Khoshrou, director of […]

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said although OPEC’s compliance with the deal to reduce output has been acceptable some changes are needed if participants seek to balance the market. “Firstly, all members should commit 100 percent to the production cut agreement and secondly, the production level of Nigeria and Libya should be […]

TEHRAN – Iraq will soon sign a deal with Iran to jointly invest in two oil fields, Bloomberg quoted Iraqi Oil Minister Jabbar al-Luaibi as saying on Sunday at a news conference in Baghdad. Earlier in July, the Iraqi minister held a meeting in Tehran with his Iranian counterpart Bijan Namdar Zanganeh, to discuss […]

The annual economic growth of Switzerland in 2017 is expected to be below one percent after revision, possibly the slowest since 2009, State Secretariat for Economic Affairs (SECO) said. The latest statistics from SECO predicted a growth rate of 0.9 percent for 2017, which has fallen from previous estimates of 1.4 percent, possibly marking the […]

OPEC’s compliance with an agreement among oil producers to reduce output has been acceptable, said Iran’s oil minister on Monday, adding that some changes were needed if participants seek to balance the market. The Organization of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8 million barrels per day […]

TEHRAN – First Vice-President Eshaq Jahangiri says Iran has been holding talks for foreign investment with many countries, the sum of which amounts to $60 billion. Addressing the inaugural ceremony of the International Exhibition of Plastics Rubber, Machinery and Equipment, Iran Plast, in Iran’s capital city of Tehran yesterday, Jahangiri said $26 billion of the […]

PARIS – Bpifrance, the country’s state investment bank, will finance investment projects of French companies in Iran from 2018, granting up to 500 million euros ($598 million) in annual credits, its CEO said in a newspaper interview on Sunday. “Excluding a force majeure case, we will be on their side in early 2018. We are […]

The International Energy Agency (IEA) in its latest report on the status of the global energy market said that was the world’s third largest producer of natural gas in 2016.    The IEA in its report said Iran had produced 190 billion cubic meters (bcm) of gas last year which it said was 5.3 percent […]