ICCIMA holds meeting with Iranian commercial attachés

TEHRAN – Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted a seminar in collaboration with the foreign ministry to acquaint the country’s commercial attachés with ICCIMA plans and policies, the portal of ICCIMA reported.

China receives first Iranian oil cargo post waivers

TEHRAN – China’s Jinxi Refining and Chemical Complex has received a one-million-barrel cargo of Iranian oil in the first month after the Trump administration ended waivers permitting imports of Iranian oil, Tasnim news agency reported on Wednesday.

Iranian consortium inks MOU with NIOC to develop oilfield

TEHRAN – National Iranian Oil Company (NIOC) has signed a memorandum of understanding with a domestic consortium for developing Band-e-Karkheh oilfield in southwestern Khuzestan Province.

Iran’s oil exports rising despite U.S. pressures: CBI governor

TEHRAN – The governor of Central Bank of Iran (CBI) said the country’s oil exports are following an upward trend despite the U.S. pressures for cutting them to zero, IRNA reported.

Free zones’ export, import problems discussed in a meeting

TEHRAN- Barriers and problems related to the process of exports from Iran’s free trade zones and imports from them were investigated in a meeting attended by Morteza Bank, the secretary of Free Zones High Council, and Reza Rahmani, the minister of industry, mining and trade, on Tuesday.

EU delegation visiting Iran to explore co-op in water management

TEHRAN – The European Union has started cooperating with Iran for managing the country’s water resources, a senior adviser to Iran’s Energy Ministry announced.

Tehran, Islamabad stress expansion of trade ties

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani met with Pakistani Ambassador to Tehran Riffat Masood on Wednesday in Tehran to discuss expansion of trade ties.

Iran to offer incentives for foreign investments of over $250,000

TEHRAN – Iranian Finance and Economic Affairs Minister Farhad Dejpasand said on Tuesday that the government is providing especial facilities for foreign companies that bring in over $250,000 of investment into the country, IRNA reported.

Iran’s monthly crude steel production up 3.8% yr/yr despite U.S. sanctions

TEHRAN- Production of crude steel in Iran rose 3.8 percent in May 2019 from May 2018, according to the World Steel Association (WSA)’s report.

By Mahnaz Abdi

CGT for more productivity, less reliance on oil income

In order to reduce intention for investment making in non-productive sectors, many countries impose capital gains tax (CGT) which is a tax on capital gains with different rates of taxation for individuals and corporations.

CBI hosts a gathering of economists to discuss monetary issues

TEHRAN – In a meeting with the country’s economists in Tehran on Monday, the governor of Central Bank of Iran (CBI) explored issues like Integrated Forex Market, open market operations (OMO), liquidity and inflation, IRIB reported.

BY: Ebrahim Fallahi

Iran’s cryptocurrency energy crisis: the issue and solutions

These days with the summer heat arriving in Iran, once again the issue of electricity consumption and balancing the country’s power supply and demand has come under spotlight.

IME to carry out 10 macro plans for promotion of performance

TEHRAN- Managing director of Iran Mercantile Exchange (IME) said that IME has prepared ten macro plans to improve its performance during the current Iranian calendar year (ends on March 19, 2020).

‘Foreign vessels passage through Iranian waters ongoing’

TEHRAN – Head of Iran’s Ports and Maritime Organization (PMO) said all major foreign shipping companies are passing through Iran's waters on their normal basis and Iranian ports are also operating as before. As reported by IRNA, Mohammad Rastad made the remarks on the sidelines of a ceremony on the occasion of World Hydrography Day in Tehran on Tuesday.

Iran’s refining capacity to rise 250,000 bpd by March 2020

TEHRAN – Daily processing capacity of Iranian refineries is expected to increase by 250,000 barrels by the end of the current Iranian calendar year (March 19, 2020) to reach 2.4 million bpd, IRNA reported on Tuesday.

Iranian supertanker repaired inside country for 1st time

TEHRAN – Iranian technicians managed to repair a giant oil tanker inside the country for the first time in the history of Iran’s shipping industry, IRNA reported on Tuesday.

Iran enjoys appropriate self-reliance in steel sector: industry min.

TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani said the country has achieved a proper self-reliance in steel industry, ILNA reported.

‘Preserving production units is top priority of industry ministry’

TEHRAN- Preserving the existing production units in the country is the top priority of Iranian Ministry of Industry, Mining and Trade, IRIB quoted Mohammadreza Fayaz, the advisor to industry, mining and trade minister, as saying on Sunday.

‘Annual exports of $32b of commodities, services to neighbor countries planned’

TEHRAN- Iranian Industry, Mining and Trade Ministry has planned that the annual export of commodities and services to Iran’s 15 neighbor countries will reach $32 billion in the current Iranian calendar year (ends on March 19, 2020), IRNA quoted the senior advisor to the industry, mining and trade minister as saying on Sunday.

By Mahnaz Abdi

Offering basic goods at IME for regulated market, flourished production

Supplying basic goods is one of the major issues on the Iranian government’s agenda in the current Iranian calendar year (started on March 21) and it is one of the focal pillars in the national budget bill for this year.

IRISL ranks 14th among world’s top 100 shipping lines

TEHRAN – Islamic Republic of Iran Shipping Lines (IRISL) is ranked 14 in Alphaliner’s latest list of world’s top 100 shipping lines published on June 20, Tasnim news agency reported on Monday.

Zanganeh denies reports of decline in Iran’s oil exports

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that reports about recent declines in Iranian oil exports are not true.

Iran to establish $4.5b transport development fund

TEHRAN – Iran’s Transport and Urban Development Ministry has announced that the government has allocated 190 trillion rials (over $4.5 billion) for establishing a transport development fund, IRIB reported.

NIDC drills 28 oil, gas wells in a quarter

TEHRAN- National Iranian Drilling Company (NIDC) dug and completed digging operation of 28 oil and gas wells during the first quarter of the current Iranian calendar year (March 21-June 21), according to an official with the NIDC.

Majlis passes bill for boosting gas condensate, oil refining capacity

TEHRAN - Iranian Parliament has approved the generalities of a bill for increasing the capacity of the country’s oil and gas condensate refineries by domestic investment, IRNA reported.

$5b allocated to supply basic goods in a quarter

TEHRAN- Central Bank of Iran (CBI) Governor Abdolnaser Hemmati announced that the government has allocated $5 billion for importing basic goods during the first quarter of current Iranian calendar year (March 21-June 21), IRIB reported.

‘Preserving production is priority in steel sector’

TEHRAN- Preserving production is the priority in steel sector of the country, ILNA quoted Iranian Deputy Industry, Mining and Trade Minister for Mining Affairs Jafar Sargini as saying on Saturday.

Govt. puts priority on people’s livelihood during sanctions: CBI governor

TEHRAN – The Central Bank of Iran (CBI) governor said addressing people’s livelihood is the government’s priority during the sanctions era, IRIB reported.

Inflation rate at 37.6%: statistical center

TEHRAN- The Statistical Center of Iran announced that the inflation rate in the twelve-month period ended on June 21, which marks the end of the third Iranian calendar month of Khordad, stood at 37.6 percent, IRNA reported.

By Ebrahim Fallahi

Petro-refinery: Iran’s new weapon against U.S. sanctions

Increasing the country’s petro-refining capacity has recently become a hot topic among Iran’s top research institutions and research centers as a key defense mechanism against the impacts of the U.S. sanctions on the country’s oil industry.