Iran setting up direct shipping service to Syria’s Latakia
Iran is to open a direct shipping line between its major container port of Bandara Abbas in the south and Syria’s Mediterranean…
Economy
Iran hits milestone of 1 billion cubic meters in gas production
inister of Petroleum Bijan Zanganeh says Iran’s gas production has hit the record high above 1 billion cubic meters a day, a…
Iran’s annual petchem output to hit 100mn tons by 2022: Oil minister
Iranian Minister of Oil Bijan Namdar Zanganeh said the country’s petrochemical production capacity would reach 100 million tons per year in the…
Iran central bank to launch contactless payment using mobile phones
Central Bank of Iran (CBI) is working on a project to enable contactless payments in shops and stores as it seeks to…
India to resume crude imports from Iran if US bans eased: Oil company
Chairman of India’s state-run Hindustan Petroleum Corp suggests that the country would not hesitate to resume crude imports from Iran once the…
South Korea finalizing talks with US on using Iran’s frozen assets to pay UN dues: Official
A South Korean Foreign Ministry official says his country is finalizing talks with the US on Iran’s payment of its UN membership…
IranAir expects word from Boeing on jets deal
Iran’s Civil Aviation Organization has written to Boeing to inquire about the fate of a $16.5 billion deal for 80 jets with…
Joint surveying begins as Iran, Afghanistan move to implement river-sharing deal
Iran and Afghanistan have launched a month-long surveying operation in their joint border region to work out the topographic features of the…
Iran’s parliament rejects govt. new draft budget
Iran’s parliament has rejected President Hassan Rouhani’s draft state budget of about $33.7 billion for the Persian year of 1400 which begins…
Iran’s electricity output capacity at 85 GW with launch of new power plant
Iranian President Hassan Rouhani has inaugurated a series of new energy projects as the country’s total capacity for electricity generation in the…
Iran offering discounts to encourage flights through its airspace: Minister
Iran has been offering discounts to major international airlines amid efforts by the government to boost transit income by increasing the number…
Iran among top petrochemical powers in region: Minister
Iranian Oil Minister Bijan Zanganeh says the country’s petrochemical industry is among the most powerful ones in terms of technology, equipment and…
Iran steel industry adamant against sanctions
Steel is the backbone of the industrialized world and has always been a centerpiece in Iran’s economic growth. Despite the disruptive impacts…
IMF cuts Iran’s 2021 economic growth outlook by 0.2%
The International Monetary Fund (IMF) has slightly cut its growth outlook for the Iranian economy amid projections that the country might continue…
Iran’s bond auctions generate $6.55bn with $106 mln in new weekly sales
The Iranian government says it has earned more than $6.55 billion from 35 weeks of bond auctions as it sells over $106…
Iran building 30-million-barrel strategic reserve
Iran has decided to build strategic reserves for 30 million barrels of oil as a buffer against the impact of sanctions, the…
Senior MPs weigh plans to boost Iran-China ties
Speaker of the Iranian Parliament Mohammad Baqer Qalibaf and Chairman of the Standing Committee of the National People’s Congress of China Li…
Iran in no rush to fill Turkey’s void in Armenia: Trade official
A senior Iranian trade official says the country is in no rush to fill a Turkish trade void in Armenia where public…
Iran’s gas output tops 1 bcm/d amid calls for efficiency
Iran’s production of natural gas has finally topped a long-awaited mark of one billion cubic meters per day (bcm/d) as authorities urge…
Basic goods imports exceed 4 mln tons in 10 months to late January: Iran’s GTC
Iran’s Government Trading Company (GTC) says the country imported over four million metric tons of basic goods in the 10 months to…
Iranian president inaugurates Persian Gulf Bid Boland Gas Refinery
President Hassan Rouhani inaugurated the Persian Gulf Bid Boland Gas Refinery, the largest in the Middle East and other important oil projects…
Iran’s inflation rate rises 1.7% as economy keeps reeling from COVID
Iran’s inflation rose by 1.7 percent in annual terms in the month to late January as the country keeps reeling from the…
Top banker says part of Iranian frozen assets released
Governor of Central Bank of Iran Abdolnasser Hemmati announced on Wednesday that part of Iran’s frozen assets have been released. Now, “we’re…
South Korean banks should pay damages on Iran’s frozen funds, says CBI governor
Central Bank of Iran (CBI) Governor Abdolnasser Hemmati says the country expects South Korean banks holding some $7 billion in Iranian funds…
Tehran, Baku move to expand ties with new deal
Iran and the Republic of Azerbaijan signed a new agreement at the conclusion of the latest round of the Joint Commission on…
Iran, Turkey sign 3 railroad deals
Iran and Turkey have signed three new agreements on railroad transport, the managing director of the Islamic Republic of Iran Railways said.…
Iran will restore crude output to pre-sanction levels within one day: NISOC chief
A senior Iranian Oil Ministry official says crude output in the country can be restored to levels recorded before the US sanctions…
Iran exports over 93k tons of agricultural products to Iraq
Iran exported more than 93,000 tons of various types of agricultural products (summer crops), valued at $43,138,000, to neighboring Iraq via Mehran…
Iran opens new projects in free trade, industrial zones
The Iranian President inaugurated 60 projects in the country’s free trade and economic zones on Thursday. In a videoconference on Thursday morning,…
Iran shuts operations at Chinese-Iranian bitcoin farm amid power shortage
Iranian authorities have ordered a temporary suspension of activities in a major cryptocurrency mining factory located southeast of the country amid a…
Iran’s steel exports up 35% y/y in late December: Report
Iran exported 35 percent more of its steel products in the calendar month to late December compared to the similar month in…
Iran-Iraq Joint Economic Commission convenes in Tehran
The 4th Iran-Iraq Joint Economic Commission meeting began in the Iranian capital on Tuesday. The two-day commission meeting is participated by high-ranking…
Iran’s export to Afghanistan to top $5bn in year to March 2022: TPO
ran’s Trade Promotion Organization (TPO) says the value of exports to Afghanistan is expected to reach $5 billion in the calendar year…
Iranian ship arrives at Venezuelan port in defiance of US sanctions
Iran and Venezuela continue to defy illegal US sanctions against the two longtime allies and trade partners, with reports saying an Iranian…
Iran earned less than $20bn from crude exports in 2020: Top banker
Central Bank of Iran (CBI) Governor Abdolnasser Hemmati says the country earned less than $20 billion from crude exports in 2020 as…
Iran to begin commercial operations at oilfield shared with Iraq, contractor says
A contractor working for the Iranian Oil Ministry says production from a joint oilfield located at the border with Iraq is to…
Narrowing of OPEC+ cuts insignificant to global supply, Iran oil Min. says
Iranian Oil Minister Bijan Namdar Zanganeh says a Tuesday decision by an international grouping of oil producers known as OPEC+ to slightly…
Iran’s CBI chief says prepayment for COVID-19 vaccines finalized
Central Bank of Iran (CBI) Governor Abdolnasser Hemmati says the country has finally made a prepayment for purchase of vaccines to tackle…
Ukraine plane crash victim families offered life-time benefits
Victim families of a Ukrainian plane crash that happened in January last year near the Iranian capital Tehran have been offered with…
Iran ready to make powerful return to intl. oil market
Since the lifting of anti-Iran sanctions is on the horizon, the Iranian oil industry is preparing to return to the energy market…