TEHRAN – Deputy Governor of the Central Bank of Iran (CBI) Akbar Komijani pointed to the transition from arduous sanctions period and said, “in sanctions period, the country’s banking ties with the outside world was disconnected.” After the implementation of Joint Comprehensive Plan of Action (JCPOA), the official title of nuclear deal, most of foreign […]

TEHRAN– Isfahan Refinery will get South Korea’s finance for the improvement process and optimization purposes. In this regard, South Korea will provide €1.9 billion worth of credit for upgrading and optimizing Isfahan Refinery. Alireza Arman Consolidated Planning Manager of National Iranian Oil Products Refining and Distribution Company (NIOPRDC) made the remark, adding, “a contract for […]

TEHRAN – The latest annual report issued by Iran-UK chamber of commerce indicates a nearly 50% increase in the trade transactions between the two sides after the signing of Iran nuclear deal in 2015. According to the latest annual report issued by Iran-UK chamber of commerce, the volume of trade exports between Iran and UK […]

TEHRAN – Indonesia’s state-owned Pertamina is eyeing contribution to the development of Iran’s Mansouri oil field in April next year, Platts reported quoting the company’s Upstream Director Syamsu Alam. “Pertamina will focus on Iran for its acquisition plan next year, besides continuously evaluating potential blocks in some other countries,” Alam told Platts. The block is […]

TEHRAN – China’s Sinopec Engineering (Group) Co., signed a deal with National Iranian Oil Engineering and Construction Company (NIOEC) to contribute to engineering, procurement and construction of phase II of Abadan refinery upgrading project in Iran. “The group will pursue approximately 6.86 billion yuan ($1.05 billion) of the total contract value”, Nikkei Asian Review cited […]

TEHRAN – Iran’s top four Asian buyers – China, India, South Korea and Japan – imported 1.362 million barrels per day (bpd) of Iranian crude oil in November, government and ship-tracking data showed. According to Reuters, China was the biggest buyer, importing 557,876 bpd. South Korea, India, and Japan ranked next, importing 345,700 bpd, 265,700 […]

The law on implementation of the general policies of the Article 44 of Iran’s Constitution on privatizing state-owned companies was declared in 2006 in a bid to downsize the government and promote the private sector’s role in the national economy. The government envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), […]

TEHRAN- National Iranian Tanker Company (NITC) Managing Director Sirous Kianersi said that Total and Shell are among the international companies that have leased out Iranian oil tankers since the implementation of Joint Comprehensive Plan of Action (JCPOA) that lifted the sanctions against Iran in January 2016. In an interview with Tasnim news agency, the official […]

Having abundant energy resources and a great number of power plants, Iran is one of the Middle East’s top energy suppliers which contributes to the region’s electricity supplements both directly through electricity exports and indirectly via exporting natural gas being used as feedstock for the destination countries’ power plants. Considering the fact that the country […]

TEHRAN – The 14th exclusive exhibition of Iranian goods and services is due to be held in Turkmenistan’s capital Ashgabat on March 1-3, 2018, the portal of Trade Promotion Organization of Iran (TPO) reported. Iranian companies active in various areas including electricity, oil and gas, petrochemicals, auto and spare parts, wood industries, as well as […]