TEHRAN – The price of Iran’s light crude oil in the week ended on November 3 rose $2.59 to stand at $60.04 per barrel, IRIB reported on Sunday. The country’s light oil price was reported $50.39 on average since the beginning of 2017 until November 3. According to the report, Iran sold its heavy crude […]

TEHRAN- Iranian Deputy Industry Minister Reza Rahmani said the Industry Ministry plans to set up 6,000 new industrial units creating 50,000 jobs in the country by the end of current Iranian calendar year (march 20, 2018), IRNA reported. Mentioning production flourishing one of the main policies of Resistance Economy, the official announced that some 50 […]

TEHRAN – Phil Hogan, European Union commissioner for agriculture and rural development, has predicted a bright future for economic cooperation between Iran and the European Union, particularly in food and agriculture sectors. “We seek to tighten bilateral ties between Iran and the EU which secures interests of both sides,” he said. Hogan, leading a 70-member […]

TEHRAN  – Head of Iran-Russia Joint Chamber of Commerce called for close economic interaction among all Caspian states, saying trade exchange should not be confined to three neighbors alone. Asadollah Asgaroladi urged on Sunday that Kazakhstan and Turkmenistan join the trade interaction among Iran, Russia and Azerbaijan. He said he has made a suggestion to […]

TEHRAN- Petrochemical production in Iran has risen nine percent since the beginning of current Iranian calendar year (March 21) compared to the same period of time in the past year, according to Ali-Mohammad Bossaqzadeh, the production control director of National Petrochemical Company (NPC). The official put the country’s petrochemical output at 31 million tons since the […]

TEHRAN- The National Iranian Oil Company (NIOC) and the Norwegian Offshore Resource Group (ORG) inked a memorandum of understanding (MOU) on cooperation in conducting development studies on Sardar-e-Jangal oilfield and the exploratory blocks of 24, 26 and 29 in the Caspian Sea. The MOU was signed in Tehran on Tuesday by Mohsen Delaviz, the managing […]

TEHRAN – The head of Russia’s state-controlled oil giant Rosneft said it has signed a road map with the National Iranian Oil Company (NIOC) to implement “strategic” projects in Iran, the head of Igor Sechin said on Wednesday that the deal paved the way for legally-binding documents to be signed within a year, according to […]

TEHRAN- The value of Iran’s non-oil trade with foreign partners reached $52.527 billion during the first seven months of the current Iranian calendar year (March 21- October 22), up $3.59 billion or 6.2 percent from the same period last year, Tasnim reported on Tuesday. The country’s foreign trade stood at $49.468 billion during the last […]

TEHRAN  – Iran’s total crude and condensate exports for October are expected to tumble by nearly a fifth from the previous month to a 19-month low, a source said. Crude and condensate exports for October will be 2.09 million bpd, the lowest since March 2016, down from 2.57 million bpd in September dented by production […]

TEHRAN – China’s September oil imports from Iran increased 59 percent from the same month a year earlier, Reuters reported citing the country’s customs data. The country Shipped in about 784,060 barrels per day (bpd) or 3.22 million tons of Iranian crude in September, compared with 1.9 million tons in the same period in 2016. […]