Following an analysis published by Mehr News that had criticized the pricing formula for selling gas to a Norwegian company, Head of the Parliament’s Energy Committee Hasanvand said that the agreement has been suspended. Head of the Parliament’s Energy Committee Fereidoun Hasanvand referred to the letter sent by the Energy Committee to the Iranian minister […]

Exploration activities in the oil industry hit less than seven billion barrels of oil in 2017, the figure of which is unprecedented since 1940. Oil industry in the world explored less than seven billion barrels of oil in 2017, showing a considerable decline as compared to the same period of last year. According to the […]

The US economy may be basking in the warm glow of solid growth, but economists are nervously eyeing a trend in the bond market that could spell stormy weather ahead. Even though President Donald Trump is touting unemployment at its lowest level in 17 years and Wall Street soaring to new heights, economists are worried […]

Consumption of gas hit a record high in the country in the Iranian month of Day (from Nov. 21 to Dec. 24). Statistics show that gas consumption volume in various sectors of the country in the same period hit 639 million cubic/meter, indicating a record high as compared to the previous month. For his part, […]

Exports of goods from Iran increased by 6 percent in volume (value in constant prices) in the first half of current Iranian calendar year (began March 21) compared to the similar period a year ago. The Islamic Republic of Iran Customs Administration (IRICA) has released statistics on the country’s foreign trade volume in the first […]

Steel infrastructures of the country need €19 billion worth of financing for the development and growth. Minister of Industry, Mine and Trade Mohammad Shariatmadari made the remark in Policymaking Council of 8th Mine and Steel Industry Outlook Seminar on Sunday, saying, “major portion of the abovementioned finance will be earmarked for the development of rail […]

Russian Energy Minister Alexander Novak has expressed hope to proceed with oil cooperation with Iran within the framework of exchanging oil for goods. Novak rejected a report that Moscow has bought oil from Tehran noting that the Russian state trading enterprise ‘Promsirieimport’ has not purchased Iran’s oil but it is only brokering between Iran and […]

The single-window system is a trade facilitation idea enabling cross-border traders to submit regulatory documents at a single location and/or single entity. Such documents are typically customs declarations, applications for import/export permits, and other supporting documents such as certificates of origin and trading invoices. In Iran, the Islamic Republic of Iran Customs Administration (IRICA) unveiled […]

TEHRAN – MMDIC head said Australians have voiced willingness to develop cooperation with Iran in the mineral sector. Speaking at a meeting with the Australian ambassador to Iran Ian Biggs, Director General of Mines and Metals Development Investment Company (MMDIC), Azizollah Asari, said in addition to taking advantage of potentials and domestic resources, the general […]

As the poster child for the growing ranks of computer-generated currencies, bitcoin’s recent stratospheric price rises have propelled it from the chat forum-hosted depths of nerddom into the global consciousness. As it rose from under $1,000 to over $19,500 at one point this year, hordes of tech-savvy punters have rushed in to buy, while any […]