TEHRAN – China’s CITIC Trust will extend $10 billion credit line for supporting projects in Iran, based on an agreement signed between the company and five Iranian banks at CITIC Group headquarters in Beijing on Thursday. Export Development Bank of Iran, Bank of Industry and Mine, Parsian Bank, Bank Pasargad Iran and Refah Bank are […]

NEW DELHI – India imported 335,400 barrels per day (bpd) oil from Iran in August, the lowest level since February 2016, posting a fall of about 42 percent from a year ago, according to ship tracking data obtained from industry sources and data compiled by Thomson Reuters Oil Research & Forecasts. August imports from Iran […]

The echoes of Western sanctions on Iran still ruffle feathers, with the country’s poultry and livestock being the latest to bear the brunt of US threats. According to media reports on Wednesday, state-owned animal feed importer State Livestock Affairs Logistics (SLAL) has made no purchases after putting out international tenders for barley and corn. SLAL […]

American companies are in Iran on a sweet mission, exploring taste buds of a nation with a history in sugar confectionery even though things are getting bitter diplomatically between the two countries. Along with companies from 26 countries, three American firms are taking part at Tehran Cookies and Chocolate Exhibition, being billed as the greatest […]

TEHRAN – Iran has signed a number of agreements with Syria to reconstruct power plants and electricity transmission lines in the war-torn neighboring country, the caretaker of the Iranian energy ministry Sattar Mahmoodi said on Tuesday. The Syrian government signed a contract to import Iranian power plants for the city of Aleppo, Syrian state news […]

TEHRAN– Iran’s oil and condensate exports to Europe rose in August, with demand from Italy, France, the Netherlands and Greece all up, a report said. Iranian oil flows to Europe rebounded sharply last month, with 835,742 b/d sailing to the region, a rise of almost 200,000 b/d month on month, Platts reported. Turkey also remains […]

TEHRAN – Iran’s VP for Economic Affairs Mohammad Nahavandian has called for boosting trade transactions with Pakistan to reach the goal of 5 billion euros.   During a meeting with Pakistani Foreign Minister Khawaja Muhammad Asif on Monday in Tehran, Iranian Vice-President for Economic Affairs called for expediting trade negotiations between the two countries and removing obstacles […]

TEHRAN – This year Iran will produce 310,000 tons of pistachio and reclaim its title as the top producer of pistachio in the world by surpassing the US, an official at Ministry of Agriculture predicts. While estimating the production of pistachio to reach up to 310,000 tons in 2017, head of the office of cold-weathered […]

TEHRAN – Sepehr Sepehri was appointed as the new managing director and board chairman of National Iranian Drilling Company (NIDC). National Iranian Oil Company (NIOC) Managing Director Ali Kardor appointed Sepehri to the position replacing Heidar Bahmani. Bahmani was appointed as NIDC’s managing director for the third time in Iranian year of 1393 (March 2014-March […]

TEHRAN – Iran has raised its light crude’s official October selling prices for Asia by $0.48 to set 50 cents above the Oman/Dubai average for the same month, Reuters reported quoting an industry source with direct knowledge of the matter. Last month, OPEC’s third largest oil producer changed the pricing formula for its Soroush grade […]