TEHRAN- According to OPEC’s latest monthly report published on December 12, oil production in Iran stood at 3.818 million barrels per day (bpd) in November, falling 2000 bpd from 3.820 million bpd in October, based on secondary sources. The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil […]

TEHRAN- South Korea imported 17 million tons, or 372,890 barrels per day (bpd), of Iranian crude oil during the first 11 months of 2017, with 36.5 percent rise from 12.45 million tons over the same period last year, according to the customs data. Although, South Korea’s imports of Iranian crude oil fell 9.5 percent in […]

TEHRAN – China National Petroleum Corporation (CNPC) is weighing taking over Total’s stake in Iran’s South Pars gas field project if the French company leaves to avoid possible U.S. sanctions, Reuters reported citing industry sources. Under the terms of the agreement to develop phase 11 of South Pars, the world’s largest gas field, CNPC could […]

The economies of Iran and China complement each other, Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said, stressing that the target of an average annual trade of $60 billion is within reach. In a meeting with chairman of China’s private sector chamber of commerce in Tehran on Wednesday, Shariatmadari stressed the need for […]

An official at the Ministry of Industry said the incumbent government had approved of two billion dollars of foreign investment in 38 projects at industry, mining and commerce sectors. Director-General of Foreign Investment Affairs at the Iranian Ministry of Industry, Mine and Trade Afrooz Bahrami said, since the previous government took office, as many as […]

TEHRAN – Russia’s energy giant Gazprom signed a memorandum of understanding with the National Iranian Oil Company to cooperate in the Iran LNG project which is estimated to cost $4 billion. Gazprom CEO Alexey Miller and NIOC Managing Director Ali Kardor signed the agreement in Tehran on Wednesday. On the sidelines of the signing ceremony, Iranian Oil […]

Tehran Stock Exchange’s main index – TEDPIX – broke an all-time high record in Wednesday trading by surging into the 93,000 lane.  TEDPIX gained 654 points to stand at 93,283 – a level never seen in the Exchange’s history since establishment in 1966. The bulk of the growth was provided by industrial giants such as […]

TEHRAN – Iran is considering the use of domestic finance for the purchase of Airbus and Boeing airplanes, Tasnim reported on Tuesday quoting an official with flag carrier Iran Air. “We prefer to use domestic finances rather than depending on foreign financers,” Iran Air public relations director Masoumeh Asgharzadeh said. The official noted that some […]

TEHRAN – Representatives from private sectors of Iran and South Korea signed 22 memorandums of understanding (MOUs) in Tehran on Sunday to expand cooperation in technology transfer areas. The MOUs were signed during the 4th Iran-South Korea Small and Medium Enterprises (SMEs) Technology Matching Conference, which was attended by officials from both sides along with […]

TEHRAN- Iran exported $495.827 million worth of pistachio during the first eight months of the current Iranian calendar year (March 20-November 21), Tasnim reported on Monday citing customs 8-month data. The country’s weight of exported pistachio stood at 59,744 tons during the mentioned time span, indicating an 18 percent fall from the figure of last […]