Ground laid for South Pars phase 11 implementation: POGC head

TEHRAN- The ground is laid for the implementation of phase 11 of developing South Pars gas field (in the Persian Gulf), Mohammad Meshkinfam, the managing director of Pars Oil and Gas Company (POGC), which is in charge of developing the gas field, told Tasnim.

Iran's non-oil GDP growth stands at 4.6% in autumn

TEHRAN - The latest report released by the Central Bank of Iran shows the country’s non-oil gross domestic product grew by 4.6 percent during the autumn last year.

Iran plans for 25% increase in non-oil exports

TEHRAN- Iranian Industry, Mining and Trade Minister Mohammadreza Nematzadeh announced that the country plans to increase its annual non-oil exports by 25 percent by the end of the current Iranian calendar year (March 20, 2018), IRNA reported on Saturday.

BY Haniyeh Sadat Jafariyeh

Re-elected Rouhani’s economic challenges, priorities

After his landslide victory in Iran’s presidential election held on May 19, Iranian President Hassan Rouhani swept to his second term.

Total plans to finalize deal with Iran before summer

TEHRAN- French oil major Total plans to conclude the Iran South Pars gas deal before summer, its chief executive Patrick Pouyanne told journalists on the sidelines of the company's annual general meeting.

Iran’s wheat production to reach 15m tons this year: USDA

TEHRAN- With a three-percent decrease, Iran’s annual production of wheat will reach 15 million tons in 2017, U.S. Department of Agriculture (USDA) forecasted in its latest report.

By Mahnaz Abdi

Are they lucky enough to win Iran oil deals?

After the implementation of Iran’s landmark nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), in January 2016, the Iranian oil industry has witnessed a flock of foreign companies willing to participate in different projects.

Oil output capacity seen rising 25% in 5 years: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has said he sees the country adding 25 percent to its oil production capacity in the next five years.

Iran tops OPEC nations in Q1 oil revenue increase

TEHRAN – Iran’s oil revenue has increased about $15 million per day (m/pd) in the first quarter of 2017 compared to the last quarter of 2016, Bloomberg reported citing International Energy Agency (IEA).

By Mahnaz Abdi

Iran signs $630m deal to produce strategic oil equipment

TEHRAN - By signing a contract worth $630 million with an Iranian-Spanish consortium on Wednesday, Iran joined the world’s manufacturers of special pipes, which are of strategic importance in the oil and gas industry.

NITC inks 70 leasing deals in post-sanctions era

TEHRAN – The National Iranian Tanker Company has signed 70 deals since the removal of sanctions in January 2016 for leasing out tankers to large foreign companies.

Iran sells crude oil at $45.21 per barrel in a week

TEHRAN- Iran sold its light crude oil at $45.21 per barrel in the week ended on May 12, with 21 cents decrease from its previous week, IRNA reported on Tuesday.

Iranian oil minister heading to Vienna for OPEC meeting

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh will leave Tehran for Vienna today to attend the 172st meeting of the Organization of the Petroleum Exporting Countries (OPEC) which is due to be held on Thursday, Shana reported.

West Karoun oilfields, IP gas pipeline projects prioritized

TEHRAN - Iran’s First Vice-President Es’haq Jahangiri has tasked the Oil Ministry with implementing 11 prioritized projects in the oil and gas sector by the end of the current Iranian calendar year (March 20, 2018).

NITC, Indian refiners ready to expand cooperation

TEHRAN- National Iranian Tanker Company (NITC) Managing Director Sirous Kianersi said that in his meeting with Indian Petroleum and Natural Gas Minister Dharmendra Pradhan he has announced NITC’s readiness for the continuous and safe shipment of Indian refineries’ products.

No negotiations with Russia, China over purchasing airplanes

TEHRAN- Iranian Deputy Transport Minister Asghar Fakhrieh Kashan announced on Sunday that Iran has held no talks with Russia and China over buying aircrafts from them, IRNA reported.

Persian Gulf nations tend to buy Iranian gas

TEHRAN – The National Iranian Gas Company’s managing director Hamidreza Araqi told IRNA on Sunday that Persian Gulf nations are willing to buy Iranian gas.

First VP announces prioritized economic programs

TEHRAN- Iran’s First Vice-President Es’haq Jahangiri has tasked the Ministry of Finance and Economic Affairs with implementing 14 prioritized programs by the end of the current Iranian calendar year (March 20, 2018).

By Ebrahim Fallahi

OPEC meeting: another winning chance for Iran

As one of the key players in the world’s political and economic turnovers, oil market has been witnessing lots of ups and downs in recent years.

Iran's 2-month electricity exports tripled

TEHRAN-Iran's exports of electricity to its neighboring countries tripled in the first two months of the current Iranian calendar year, which began on March 21, compared to the same period last year, Fars news agency reported on Friday quoting an energy official.

Iran, Russia integrate bank card systems

TEHRAN- Iran and Russia integrated their bank card systems with each other for the citizens of both sides to be able to use their bank cards in each other's countries, Public Relations Department of Central Bank of Iran (CBI) announced.

Tehran, Madrid sign MOU on railway co-op

TEHRAN – Islamic Republic of Iran Railways (IRIR) and Spain’s Administrator of Railway Infrastructures (known as Adif) signed a memorandum of understanding on Tuesday for railway cooperation, IRNA reported.

Iran Air receives 4 ATR airplanes

TEHRAN- Iran’s national flag-carrier Iran Air formally took delivery of the first four of the passenger jets purchased from the European plane maker ATR, on Wednesday, IRNA reported.

Iran’s post-sanctions export markets nearly double

TEHRAN - After the implementation of nuclear deal in January 2016, the number of countries which import Iranian goods increased to 15 from the eight destinations before the deal, ILNA reported on Tuesday quoting a trade official.

4 ATR airplanes to arrive in Tehran tomorrow

TEHRAN- The first four of the passenger jets, 72-600 turboprop aircraft, purchased from the European plane maker ATR, will land in Tehran’s Mehrabad International Airport on Wednesday, Iranian Deputy Transport Minister Asghar Fakhrieh Kashan told IRNA on Tuesday.

9 foreign financers ready to fund Iran’s plane purchase

TEHRAN- Iranian Deputy Transport Minister Asghar Fakhrieh Kashan announced on Monday that none foreign financing companies from Asia and Europe have voiced willingness to fund Iran’s purchases of airplanes from giant airplane manufacturers, IRNA reported.

EAEU, Iran agree on consultation co-op: Putin

TEHRAN- Eurasian Economic Union (EAEU) and Iran have agreed to launch consultation cooperation, Russian President Vladimir Putin said on Monday.

Iran plans 800km railway network expansion by March 2018

TEHRAN – The national railway network is projected to be expanded by 838 kilometers in the current Iranian calendar year, which ends on March 20, 2018, IRNA quoted transport minister as saying.

By: Haniyeh Sadat Jafariyeh

Rouhani’s economic legacy

The presidential election is scheduled for Friday in Iran. If the incumbent president Hassan Rouhani loses the bid for re-election, the next president will take office in less than three months. In that case, what economic achievements will the next president inherit from Rouhani?

Iran-S. Africa trade planned to hit $2b by 2021

TEHRAN- Iran and South Africa have planned to boost the volume of their bilateral trade up to $2 billion by 2021, an official in Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Shahram Khasipoor announced on Sunday, IRNA reported.