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 […]

TEHRAN- In a meeting between Managing Director of Industrial Development and Renovation Organization of Iran (IDRO) Mansour Mo’azzami and some high ranking officials and managers from Indian companies active in various industrial sectors the two sides accorded to collaborate on joint industrial production activities. As the official website of IDRO reported, Co-Chairman of Confederation of […]

TEHRAN- Russian Energy Minister Alexander Novak said that supply of Iranian oil to Russia under the oil-for-goods mechanism is being worked out. This issue is still under discussion, the minister told TASS. Earlier Novak said that a contract with Iran to supply 100,000 barrels of oil per day to Russia has already been concluded. The […]

TEHRAN- Iran exported over five billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), a 64 percent rise from 3.2 bcm in the same period of time last year, according to a gas official. Mehdi Jamshidi Dana, the dispatching director of National Iranian […]

TEHRAN- Representatives from Iranian and Venezuelan private companies and firms studies avenues of boosting mutual economic and trade cooperation in Venezuela on Thursday. As IRNA reported, as well as expansion of mutual economic bonds, the two sides discussed Iranian companies’ future activities in the Venezuelan markets under the recent circumstances of the South American country. […]

TEHRAN- Iran’s imports from the United States dropped 51 percent during the first seven months of 2017 and reached $48.1 million, compared to the same period in the preceding year. According to the latest report released by American Statistical Association (ASA), Iran-U.S. trade transactions in the said seven-month-period registered a 37-percent-decrease and fell to $87.3 […]

TEHRAN – CEO of the National Iranian Oil Company (NIOC) Ali Kardor said Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years. Iranian gas production will reach 1.3 billion cubic meters per day and production of gas condensate will reach 864,000 bpd in the next five years, […]