TEHRAN - The CEO of the National Iranian Oil Company (NIOC), Hamid Bord, announced an ambitious plan to increase oil production by 400,000 barrels per day by September 2025. Speaking at the third PetroTech Conference, Bord urged knowledge-based companies to contribute to enhanced oil recovery projects, emphasizing the integration of modern technology into the oil and gas sector.

TEHRAN - The head of Iran’s Mines and Mining Industries Development and Renovation Organization (IMIDRO), Mohammad Aghajanlou, announced the formation of a joint committee between Iran and Russia to implement a cooperation agreement on mining and mineral industries. The committee will include representatives from Iran’s Ministry of Industry, Mine and Trade, IMIDRO, the Geological Survey and Mineral Exploration Organization of Iran, as well as Russia’s Zarubezhgeologia company.

TEHRAN - In a significant milestone for Iran’s oil industry, the CEO of the Pars Oil and Gas Company, Touraj Dehghani, announced that the Gureh-Jask crude oil pipeline project has enabled Iran to export oil without relying on the strategic Strait of Hormuz. Speaking at the third PetroTech conference on Sunday, Dehghani highlighted the project’s technological achievements and its potential as a benchmark for future endeavors.

TEHRAN - The CEO of the Pars Special Economic Zone has announced that gas condensate exports will be halted for the next two years as part of a broader effort to reduce gas flaring and increase domestic processing capacity.

Iran Suspended from Green Card Convention Due to Banking Restrictions TEHRAN (Iran News) TEHRAN – The Governor of the Central Insurance of Iran has cited banking transaction restrictions as the primary reason for Iran’s suspension from the Green Card Convention. He stated that the Green Card Office in Iran has become independent of the Central Insurance […]

TEHRAN - Iran has achieved the second-fastest growth in strategic industries after China, particularly in the steel sector, reaching its projected goals for 2025, according to the Minister of Industry, Mining, and Trade.

The value of the country’s non-oil exports between March 20, 2024, and January 20, 2025, reached $47 billion, showing an 18% surge compared to the same period last year.

TEHRAN - Minister of Industry, Mine, and Trade, Seyed Mohammad Atabak, announced that the country’s current trade with the Eurasian Economic Union (EAEU) stands at $3.6 billion, with a vision to expand this figure to $10 billion in the near future. The statement was made on Friday during the opening ceremony of the Eurasia Exhibition, attended by the President of Iran, highlighting the government’s commitment to bolstering foreign trade.

President Masoud Pezeshkian visits the Eurasia Expo 2025, stressing the trade development with Eurasian countries.

TEHRAN - Iraq is emerging as a crucial trade bridge for Iran to access Arab markets, with plans for industrial zones along the shared border set to strengthen Iran's presence in the region.