IRICA, IRU discuss easing transit between Iran, Europe

TEHRAN- In a meeting between head of the Islamic Republic of Iran Customs Administration (IRICA) Foroud Asgari and secretary general at World Road Transport Organization (IRU) Umberto de Pretto, the two sides discussed easing transit of goods between Iran and Europe, IRIB reported on Wednesday.

Britain seeking finest solutions to expand trade ties with Iran

TEHRAN- Director of the Department for International Trade at the British Embassy in Tehran Keith Wellings told IRNA on Wednesday that his country is looking for the best options to improve its ties with Iran in the framework of Joint Comprehensive Plan of Action (JCPOA).

By: Ebrahim Fallahi

The reason for Iran’s power outages: exports or infrastructure?

Since starting of the summer, an intense heat-wave has been blanketing over most of the cities of Iran, leading to an over-usage of airconditioning appliances and a significant jump in electricity consumption among the household consumers. The situation has led to a series of daily power outages across the country which has affected many businesses and people adversely.

By Mahnaz Abdi

IME laying a proper ground to support Iranian products

The current Iranian calendar year has been named as the year of ‘support for Iranian products’ by Supreme Leader Ayatollah Ali Khamenei.

Aluminum production by major companies rises 11% in 3 months yr/yr

TEHRAN- Iran’s major aluminum producers produced 91,379 tons of aluminum during the three-month period from March 21 to June 21, which shows 11 percent growth from the figure of the same period of time in the past year, IRNA reported on Tuesday.

U.S. plans for wiping Iranian oil is an illusion: VP

TEHRAN - Iranian First Vice President Es’haq Jahangiri said on Monday that The U.S.’s attempts for halting Iranian oil exports to the world markets is an illusion, Shana news agency reported.

201 industrial units resume activity in 3 months

TEHRAN- Through supportive measures taken by the government, some 201 industrial units that had stopped their activity resumed their operation during the first quarter of current Iranian calendar year (March 21-June 21), Iranian deputy industry minister announced.

Major steel producers’ output rises 17% in a quarter on year

TEHRAN- Iran’s major steel producers produced 4.849 million tons of crude steel during the first quarter of current Iranian calendar year (March 21-June 21), with 17-percent growth from the figure of the same period of time in the past year, IRNA reported on Monday based on the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Iran warns OPEC, Saudi on violating output-cap agreement

TEHRAN - Iranian oil minister has written separate letters to OPEC President Suhail Al Mazrouei and his Saudi Arabian counterpart warning about the consequences of raising oil production above the allowed targets.

36 Iranian SMEs attract $2.3b of foreign investments in a year

TEHRAN- Some 36 Iranian small and medium-sized entrepreneurs (SMEs) attracted above $2.3 billion of foreign investments during the previous Iranian calendar year 1396 (ended on March 20, 2018), Managing Director of Iran Small Industries and Industrial Parks Organization (ISIPO) Sadeq Najafi told IRNA on Sunday.

Over 73% of rural areas connected to gas network in 3 months

TEHRAN – National Iranian Gas Company (NIGC)'s Gas Distribution Director Saeid Momeni said 73.6 percent of the country’s rural areas have been connected to the national gas network by the end of the current Iranian calendar year’s first quarter (June 21).

Stock market index rises 13.7% since March

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) has risen 13.7 percent to hit 109.505 points since the beginning of current Iranian calendar year (March 21), Tasnim news agency reported on Sunday.

Iranian bank gets green light to open branch in Mumbai

TEHRAN – India has approved a proposal from Iran’s Bank Pasargad to open a branch in Mumbai, Indian Express reported on Saturday.

Iran unveils anti-sanctions plan

TEHRAN - Mohammad Baqer Nobakht, head of Budget and Planning Organization, unveiled the first section of a comprehensive plan aimed to tackle U.S.-led sanctions against Iran, ISNA reported.

Iran’s oil production stands at 3.799m bpd in June: OPEC

TEHRAN- According to OPEC’s latest monthly report published on July 11, oil production in Iran stood at about 3.799 million barrels per day (bpd) in June, falling 22,700 bpd from 3.822 million bpd in May, based on secondary sources.

Iran assures India on secured oil supplies, offers incentive

TEHRAN – Iranian embassy in New Delhi said in a statement that the Islamic country will take all necessary measures to ensure secured oil supplies to India, offering “flexible measures” to boost bilateral trade.

13 industrial projects implemented using $1.8b of investment in a year

TEHRAN- According to Iranian Ministry of Industry, 13 industrial projects were implemented during the past Iranian calendar year 1396 (ended on March 20, 2018) using 81.3 trillion rials (about $1.89 billion) of investment.

Daily gasoline imports 3.3m liters less than projected

TEHRAN- Iran imported 5.7 million liters per day of gasoline during the three-month period from the beginning of current Iranian calendar year (March 21), which was 3.3 million liters less than the planned amount for this period, the managing director of National Iranian Oil Products Distribution Company (NIOPDC) announced.

Exports from northern ports can be tripled

TEHRAN- The capacity of exports from the ports in north of Iran can be increased by three folds, according to Hadi Haqshenas, the deputy head of Ports and Maritime Organization (PMO).

By Ebrahim Fallahi

U.S. ‘zero Iranian oil’ plan: A fantasy doomed to failure

U.S. has recently claimed that it wants to wipe all the Iranian oil from the global market to reduce the Islamic country’s oil revenues to zero, a plan which seems rather like a ‘Trump fantasy’ than a well-thought government-level program.

Iran’s crude steel production grows 22% annually

TEHRAN- Iran’s annual crude steel production increased 22 percent in 2017, while the world’s production improved by six percent in the said time, Iranian Industry Minister Mohammad Shariatmadari announced on Tuesday.

NIGC supplies power plants with 285mcm of gas per day

TEHRAN- National Iranian Gas Company (NIGC) has been supplying the power plants in the country with 285 million cubic meters (mcm) of gas per day since the beginning of summer, Mehdi Jamshidi Dana, the dispatching director in NIGC, announced.

Iran to sell maximum level of oil to counter U.S. sanctions: VP

TEHRAN- Iranian First Vice President Es’haq Jahangiri announced on Tuesday that the country plans to sell as much oil as it can in face of U.S. sanctions, Fars news agency reported.

Iran-Turkey trade exceeds $4.5b in 5 months

TEHRAN – The value of trade between Iran and its neighbor Turkey has reached $4.575 billion during the first five months of 2018, registering a three percent rise compared to the same period last year.

Car manufacturing up 9.4% in a quarter on year

TEHRAN- Car manufacturing in Iran rose 9.4 percent during the three-month period from the beginning of current Iranian calendar year (March 21) compared to the same time span in the past year, IRIB reported.

Italian, Chinese firms to build solar farms in Iran

TEHRAN – Italy’s Denikon and Chinese Sinosteel Corporation signed a memorandum of understanding in Iran’s central province of Yazd on Sunday for cooperation in various solar projects in Iran, IRNA reported.

Iran to continue oil exports despite U.S. disruptive measures: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the country’s oil production and exports have not changed significantly despite U.S. efforts for disrupting Iran’s market, IRIB reported on Saturday.

S. Korea rejects halt in loading Iran’s oil

TEHRAN - The South Korean embassy in Tehran rejected that its country has stopped loading Iranian oil and gas condensate by its tankers in July, IRNA reported on Saturday.

‘Trump's tweets driving oil prices up’

TEHRAN - Iran’s Representative to OPEC Hossein Kazempour Ardebili said U.S. President Donald Trump’s tweet has raised oil prices by at least $10, Shana reported.

Tehran, Moscow pen banking co-op MOU

TEHRAN- During the 6th meeting of Iran-Russia banking and financial group in Tehran the two sides signed an MOU on expansion of bilateral ties, the official website of the Central Bank of Iran (CBI) reported.