Oil not to be used as a weapon to achieve political goals: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said oil should not be used as a weapon for achieving political agendas, IRIB reported.

Iron ore concentrate output exceeds 19m tons in 5 months

TEHRAN- Production of iron ore concentrate in Iran during the first five months of the current Iranian calendar year (March 21 – August 22) reached 19.725 million tons, registering a four-percent rise compared to the same period last year, IRNA reported.

By Mahnaz Abdi

IRICA expediting, facilitating customs processes

Last month, Iran’s Finance and Economic Affairs Minister Farhad Dejpasand in a directive addressing the head of Islamic Republic of Iran Customs Administration (IRICA) obliged the customs administration to take measures for facilitating customs processes. The directive set a deadline for IRICA to take the necessary actions.

Saleh appointed new head of Iranian Privatization Organization

TEHRAN- Alireza Saleh was appointed as the new head of Iranian Privatization Organization (IPO), IRIB reported.

Iran, Turkey mulling over trade via national currencies: CBI governor

TEHRAN –In a meeting between Iran and Turkey’s presidents on Monday in Ankara, the two sides stressed expansion of economic and banking ties and emphasized the need for following up on a plan for trade via national currencies, the governor of the Central Bank of Iran (CBI) said.

Tehran, Ankara discuss resumption of electricity trade

TEHRAN - Iranian Energy Minister Reza Ardakanian discussed resumption of electricity trade between Iran and Turkey, with his Turkish counterpart Fatih Dönmez in a meeting in Ankara on Monday, the portal of Iran's Energy Ministry (known as Paven) reported.

SEPAM replaces SWIFT in banking transactions with Russia

TEHRAN – Central Bank of Iran (CBI)’s financial telecommunications system, known as SEPAM, has replaced the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in the country’s financial transactions with Russia, the governor of the Central Bank of Iran (CBI) said on Monday.

BY: Ebrahim Fallahi

Attack on Saudi oil facilities: consequences and solutions

TEHRAN – As expected, oil markets started Monday trading with an unprecedented jump in prices following the attacks on Saudi Arabia’s oil facilities which wiped nearly five percent of the global oil supply from the market.

Iran’s 5-month steel ingot output up 4% on year

TEHRAN - Production of steel ingot by Iran’s 10 major producers exceeded 8.539 million tons in the first five months of the current Iranian calendar year (March 21-August 22), registering a four-percent rise from the same period last year, IRNA reported on Monday.

Iran's PGPIC climbs in ICIS ranking despite sanctions

TEHRAN - Iran’s Persian Gulf Petrochemical Industries Company (PGPIC) has climbed three places to the 35th position in ICIS Top 100 Chemical Companies for 2019, Mehr news agency reported on Monday.

'Oman, a good place for re-export of Iranian products'

TEHRAN- Oman is a good place for re-export of Iranian products especially during the sanction time, portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported quoting the head of Iran-Oman Joint Chamber of Commerce as saying.

Bank loans to economic sectors up over 30%

TEHRAN- Iranian banking system has offered facilities to domestic economic sectors in the first four months of the current Iranian calendar year (March 21-July 22), stood at 2.188 quadrillion rials (about $52.1 billion), rising 30.9 percent from the previous year’s same period, IRIB reported.

INSTEX chairman visiting Iran

TEHRAN - Chairman of INSTEX Michael Erhard Bock, who is visiting Tehran to discuss the implementation of the instrument with senior Iranian officials, met with the Head of German-Iranian Chamber of Commerce (AHK Iran) Dagmar von Bohnstein on Monday.

By Mahnaz Abdi

Over 600 companies to attend IRAN PLAST 2019

TEHRAN- Iran’s 13th International Exhibition of Plastic, Rubber, Machinery and Equipment (IRAN PLAST) will host 570 Iranian and 35 foreign companies at the Tehran International Permanent Fairground from September 22 to 25, managing director of National Petrochemical Company (NPC) announced in a press conference on Monday.

IRENEX to hold 15th round of offering light crude oil on Tuesday

TEHRAN- National Iranian Oil Company (NIOC) will offer two million barrels of light crude oil at the international ring of Iran Energy Exchange (IRENEX) on Tuesday, IRNA reported.

Iran ranks 27th among world’s biggest economies: WB

TEHRAN – Having a 0.53 percent share of the global economy, Iran holds the 27th place in the list of world’s top economies, according to the World Bank (WB).

Monthly steel exports up 37% yr/yr

TEHRAN- Crude steel exports by Iran’s major steel producers during the fifth Iranian calendar month of Mordad (July 23-August 22) rose 37 percent compared to the same month in the previous year, IRIB reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Drone strikes disrupt almost half of Saudi oil capacity

Drone attacks claimed by Yemen’s armed forces struck two key oil installations inside Saudi Arabia on Saturday, damaging facilities that process the vast majority of the country’s crude output and raising the risk of a disruption in world oil supplies.

Iran to hold exclusive expo of products in Sulaymaniyah in late Dec.

TEHRAN- Iran’s Trade Promotion Organization (TPO) will hold an exclusive exhibit of Iranian products in Sulaymaniyah in Iraqi Kurdistan from December 24 to 28, TPO portal published.

E-Commerce Development Center to launch electronic signature next month

TEHRAN- E-Commerce Development Center of Iran will launch electronic signature system for order registration process in the next Iranian calendar month (starts on September 23), the chairman of the center announced in a press conference held at the place of the Ministry of Industry, Mining and Trade on Sunday.

‘All remaining South Pars platforms to be installed by March 2020’

TEHRAN – Head of Pars Oil and Gas Company (POGC), which is in charge of developing Iran’s South Pars gas field in the Persian Gulf, said all the remaining platforms of the field will be installed by the end of the current Iranian calendar year (March 19, 2020).

Copper concentrate output 5,000 tons more than anticipation

TEHRAN- Production of copper concentrate by Iran’s National Copper Company during the first five months of the current Iranian calendar year (March 21-August 22) has been 5,000 tons more than the anticipated figure, IRIB reported citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Tehran hosting intl. grains, bakery expo

TEHRAN – The 12th edition of Iran’s International Grain, Flour, and Bakery Industry Exhibition (IBEX2019) kicked off at Tehran Permanent International Fairgrounds on Friday, IRNA reported.

Iran to hold pavilion at 46th Baghdad intl. trade expo

TEHRAN – Iran’s Trade Promotion Organization (TPO) is planning to open Iranian pavilion at the Iraq’s 46th international trade exhibition which is due to be held during November 1-10 in Baghdad.

‘Turkish companies eager for investment in Iran’

TEHRAN – Head of Iran-Turkey Joint Chamber of Commerce said among all foreign companies the Turkish companies are more willing to invest in Iran, IRNA reported on Saturday.

Commodities worth $547m traded at IME in a week

TEHRAN- During weekdays ending up to September 12, while 429,093 tons of commodities worth over $547 million were traded at Iran Mercantile Exchange (IME), the exchange market experienced a growth of 17 percent in its trading value.

Iran’s refining capacity reaches 2.3m bpd

TEHRAN - Daily processing capacity of Iranian refineries has reached 2.3 million barrels, according to Alireza Sadeq-Abadi, the managing director of National Iranian Oil Refining and Distribution Company (NIORDC).

POGC, Petropars ink $440m gas deal

TEHRAN - Pars Oil and Gas Company (POGC), which is in charge of developing Iran’s giant South Pars gas field, signed a $440-million deal with an Iranian company called Petropars on Saturday for development of Belal gas field which is located east of South Pars in the Persian Gulf.

South Pars phase 11 to go on stream by Sept. 2021: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the phase 11 of South Pars gas field’s development project will go on stream by the first half of the Iranian calendar year of 1400 (September 22, 2021).

Over 66m tons of goods loaded, unloaded at Iran’s ports since March

TEHRAN- Over 66 million tons of goods have been loaded and unloaded at ports of Iran since the beginning of current Iranian calendar year (March 21), IRIB reported quoting the head of Ports and Maritime Organization (PMO) as saying.