TEHRAN – Sepehr Sepehri was appointed as the new managing director and board chairman of National Iranian Drilling Company (NIDC). National Iranian Oil Company (NIOC) Managing Director Ali Kardor appointed Sepehri to the position replacing Heidar Bahmani. Bahmani was appointed as NIDC’s managing director for the third time in Iranian year of 1393 (March 2014-March […]

TEHRAN – Iran has raised its light crude’s official October selling prices for Asia by $0.48 to set 50 cents above the Oman/Dubai average for the same month, Reuters reported quoting an industry source with direct knowledge of the matter. Last month, OPEC’s third largest oil producer changed the pricing formula for its Soroush grade […]

TEHRAN- Iran’s annual dairy production is anticipated to reach over 10 million tons in the current Iranian calendar year (which ends on March 20, 2018), ISNA reported on Sunday quoting Deputy Agriculture Minister Hassan Rokni as saying. In an interview with ISNA, the official also put the country’s annual dairy output at 9.6 million tons […]

TEHRAN- Austria’s Oberbank will sign a deal with the Central Bank of Iran (CBI) on September 21 to finance Austrian projects in Iran, the bank’s chief executive has said. “I think we are the first European bank (to reach such an agreement),” Franz Gasselsberger told Reuters, adding that he was relying on information from the […]

TEHRAN – Iran has raised its light crude’s official October selling prices for Asia by $0.48 to set 50 cents above the Oman/Dubai average for the same month, Reuters reported quoting an industry source with direct knowledge of the matter. Last month, OPEC’s third largest oil producer changed the pricing formula for its Soroush grade […]

TEHRAN- The first ever data vending deal in the Iranian capital market was signed between Iran Financial Center (IFC) and Greece’s Inforex S.A. data vendor company on Sunday. Based on the deal, which was signed by Inforex Managing Director Eleni Pateropoulou and IFC Managing Director Ali Naqavi in Tehran Stock Exchange (TSE) headquarters, IFC will provide […]

TEHRAN – Iran is planning to increase its oil production to 4.5 million barrels per day (bpd) within five years, Shana reported quoting National Iranian Oil Company (NIOC) Managing Director Ali Kardor as saying on Sunday. Exempted from the OPEC, non-OPEC curbs, Iran has increased its crude output to 3.79 million bpd in August from […]

TEHRAN- Iran’s exports to its western neighbor, Turkey, witnessed an increase of 80 percent during the first seven months of 2017 and stood at $4.5 billion, Tasnim news agency reported on Tuesday. According to the latest data published by Turkish Statistical Institute, Iran-Turkey trade transactions in the said period increased 16 percent in comparison with […]

TEHRAN- The National Iranian Oil Company (NIOC) signed the first deal on flare gas recovery and utilization with a consortium comprising France’s Sofregaz Company and Iran’s Sanat Sazeh Samin Company in Tehran on Wednesday. The deal valued at €41.857 million to be funded by NIOC is on recovery and utilization of about half million cubic […]

TEHRAN- According to the latest data released by Statistical Center of Iran (SCI), the country’s economic growth was seven percent, including oil revenues, for the first three months of the current Iranian calendar year (March 21-June 21, 2017). As reported, economic growth, excluding Iran’s oil income, in the said period reached 6.5 percent, compared to […]