Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have submitted plans to the National Iranian Oil Company (NIOC) to develop oil fields in Iran. Zarubezhneft representatives outlined their plans to increase the recovery rate of oil from the Aban and West Paydar fields, Iran’s Ministry of Petroleum announced on Monday. A memorandum of understanding for […]

Chinese regulators have launched a crackdown on individuals and firms raising funds by offering their own digital currencies. The People’s Bank of China has declared initial coin offerings (ICOs) illegal and wants them to “cease immediately”. A growing number of tech companies are opting to sell digital “tokens” because they are quick, easy and unregulated. […]

Iran has reported an increase of about a quarter in the transit of goods in its key transportation points – a sign that may show the country’s trade activities are growing.  Figures released by Iran’s Road Maintenance and Transportation Organization (IRMTO) showed that above 4.17 million tonnes of goods had been moved through 32 active […]

TEHRAN – Qatar has opened a land and sea cargo line with Iran and Turkey in a bid to reduce the Arab country’s cargo shipping costs by 80 percent, a report said. Former editor-in-chief of Qatar’s al-Sharq newspaper, Jaber Al-Harmi, said via twitter that the Persian Gulf Arab state has opened a land and sea […]

TEHRAN – An official said Iran exported saffron worth 75 million dollars in the first four month of the current Iranian year (began March 21). Deputy Head of Iran’s Union of Sellers and Exporters of Saffron Gholamreza Miri said a total of 53 tons and 851 kilograms of saffron worth 75 million dollars were exported […]

TEHRAN – An NPC official said Iran’s petrochemical industry experienced a 6% percent uplift in production over five months and a 12% rise in exports over four months since beginning of the current Iranian year (began March 21). Director of Production Control in Iran’s National Petrochemical Company (NPC) Alimohammad Bosaghzadeh pointed to five-month statistics for […]

TERHRAN- Iranian Privatization Organization (IPO) has transferred 1.174 trillion rials (about $30.21 million) worth of the state-run shares to the private sector since the beginning of the current Iranian calendar year (March 21, 2017). IPO plans to transfer the shares of some 337 state-run companies to the private sector by the current Iranian calendar yearend […]

TEHRAN – Iran has allocated 100 trillion rials (about $2.577 billion) for creation of job opportunities in the rural areas, Tasnim news agency reported quoting a labor official as saying on Saturday. According to Mohammad Kalantari, the deputy labor, cooperatives and social welfare minister, the allocated budget will be used to create 65,000 jobs in […]

TEHRAN – An Iranian official says that interactions with a representative of South Africa at Iran’s Chamber of Cooperatives yielded in the deal to export Iran’s honey to the African country. “The export of the honey produced by Iranian beekeepers cooperatives to South Africa is one of the results of having the commerce attaché of […]

TEHRAN  – Iran’s Marjan Petrochemical Company has clinched a contract with a major German firm over sales of methanol produced at a petrochemical plant which will come on stream soon, an official said. “Marjan is the first petrochemical company to have sealed a contract for sales of products with European companies,” Hassan Beigi, the managing […]