Over $1.6b to be allocated for flood compensation

TEHRAN - Head of Iran's Planning and Budget Organization Mohammad Baqer Nobakht announced on Wednesday that at least 70 trillion rials (about $1.66 billion) is going to be allocated for compensating losses incurred to those who have been affected by recent floods in the country.

Cutting overhaul period in SP refineries raises output by 7.4 bcm

TEHRAN – The output of South Pars gas refineries (in Southern Iran) is going to increase by over seven billion cubic meters (bcm) by cutting their overhauling period, Shana reported quoting the managing director of South Pars Gas Company (SPGC).

Netherlands stresses expansion of agriculture co-op with Iran

TEHRAN- Netherlands Ambassador to Iran Jacques Werner stressed expansion of cooperation with Iran in the field of agriculture, ILNA reported on Wednesday.

NIOC in talks with Chinese company for South Pars phase 11 project: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said National Iranian Oil Company (NIOC) is in talks with a Chinese company for completing the South Pars phase 11 project, Mehr news agency reported.

Iran to award 5 oil projects to domestic firms in near future

TEHRAN – National Iranian Oil Company (NIOC) is planning to award five oil exploration and development projects to domestic companies, ISNA reported quoting an official with NIOC.

Annual copper concentrate output beats forecast

TEHRAN- Production of copper concentrate in Iran during the past Iranian calendar year (ended on March 20, 2019), was five percent more than the planned figure, IRIB reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Iran takes part in Iraq Agrofood Trade Show 2019

The Islamic Republic of Iran is participating at Iraq Agrofood & Plastprintpack Exhibition 2019 with as many as 40 companies.

Water resources management discussed between Iran, EU

TEHRAN- In a meeting between the officials of Iranian Energy Ministry and a delegation of Water Sector of European Commission, the two sides discussed the ways for cooperation in water management resources.

Heavy rainfalls boost Iranian hydropower output by 5GW

TEHRAN – Recent heavy rainfalls in Iran has increased the electricity output of the country’s hydropower plants by up to 5,000 megawatts, IRNA reported on Monday quoting an official with Iran’s Power Generation and Distribution Company (known as TAVANIR).

‘Over $85b of working capital required to stay productive’

TEHRAN - Iranian industry, mining and trade minister said the country needs 3.6 quadrillion rials (about $85.714 billion) of working capital in order to sustain the domestic production.

Iran appointed board member of WFC

TEHRAN- Central Securities Depository of Iran (CSDI) has been appointed as a board member of the World Forum of Central Securities Depositories (WFC), the company’s official website published.

Natural disasters insurance fund to be established: CBI governor

TEHRAN- Central Bank of Iran (CBI) Governor Abdolnaser Hemmati announced that a natural disaster insurance fund will be set up in the country, IRIB reported.

Oil market fragile due to U.S. sanctions: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the U.S. sanctions on Iran and Venezuela and the growing conflicts in Libya are disturbing the supply-demand balance in the market, making it fragile.

Iranian new year’s 1st round of condensate offering due this week

TEHRAN - The National Iranian Oil Company (NIOC) is due to launch this year’s first round of gas condensate offering at the international ring of Iran Energy Exchange (IRENEX) on Tuesday.

Annual unemployment rate at 12%: statistical center

TEHRAN- According to the latest report of the Statistical Center of Iran (SCI), unemployment rate stood at 12 percent in the past Iranian calendar year 1397 which ended on March 20, 2019, IRIB reported on Sunday.

Copper cathode, anode output beats forecast

TEHRAN- Production of copper cathode and anode in Iran exceeded the planned amount in the past Iranian calendar year 1397 (ended on March 20, 2019), IRNA reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Over $857m worth of commodities traded at IME in 2nd week of April

TEHRAN- During weekdays ending up to April 11, while 698,399 million tons (MT) of commodities worth over $857 million were traded at Iran Mercantile Exchange (IME), the trading volume and value experienced growth of 577 percent and 479 percent, respectively.

CBI rejects rumors of requesting loan from IMF

TEHRAN – Central Bank of Iran (CBI) has denied the recent rumors about the bank applying for a loan from the International Monetary Fund (IMF).

Tehran to host intl. hoteling exhibition in late April

TEHRAN – The 2nd international specialized exhibition of hoteling, managing, training, equipment and consumable items (Hotel Expo 2019) is due to be held at Tehran’s Shahr-e-Aftab International Exhibition Center during April 24-26.

Exports from Bushehr rise 24% in a year

TEHRAN- Exports from Iran’s southwestern port province of Bushehr rose 24 percent during the past Iranian calendar year (ended on March 20, 2019), according to the director general of the province’s customs administration.

Iran, Iraq to build 5 joint industrial estates

TEHRAN- Iran and Iraq have agreed to construct five joint industrial estates, Mehr news agency reported on Saturday quoting Mahmoud Vaezi, the chief of staff of Iranian president.

India ships in 5% more oil from Iran in late 2018 up to March 2019

TEHRAN- Indian refiners’ shipment of Iranian crude oil increased by near five percent through March, Reuters reported citing tanker data obtained from shipping and industry sources.

Iran plans to double exports to neighboring countries by 2021

TEHRAN - Iranian industry, mining and trade minister said the country plans to double its exports to the neighboring countries by the Iranian calendar year of 1400 (which starts in March 2021), Tasnim news agency reported on Friday.

Iranian oil exports rise to pre-sanctions level: Platts

TEHRAN- Oil exports from Iran have increased significantly in March to once again reach to near pre-sanctions level, S&P Global Platts reported citing shipping and provisional tanker tracking data.

Iranian heavy crude oil price rises $2.78 per barrel in March.: OPEC

TEHRAN- Iranian heavy oil price increased $2.78 in March, according to OPEC’s latest monthly report published on Tuesday.

Tehran hosting Green Trade Fair 2019

TEHRAN- The fourth edition of Iran Green Trade Fair which kicked off at the Tehran Permanent International Fairgrounds on Thursday will wrap up on Saturday, IRNA reported.

Mousavi appointed new head of OIETAI

TEHRAN- Seyed Ali-Mohammad Mousavi was appointed as the new head of Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), Shada news agency reported.

By Mahnaz Abdi

A year with positive performance for Iranian exchange markets

Based on the already released reports and data, Iran’s exchange markets witnessed fruitful performances and results in the past Iranian calendar year 1397 (ended on March 20, 2019).

Garment exports up 26% in a year

TEHRAN- The value of Iran’s garment exports rises 26 percent in the past Iranian calendar year (ended on March 20, 2019), according to an official at the Ministry of Industry, Mining and Trade.

By Ebrahim Fallahi

Worries over global economy outweighs geopolitical factors in setting oil prices

TEHRAN – The upward trend of the oil prices in the market hit a stop point on Tuesday when the International Monetary Fund (IMF), once again, poured cold water on the hopes of oil traders who were getting optimistic about global demand this year.