Oil ministry announces new terms for offerings at IRENEX

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh on Monday released a statement in which new regulations and procedures for offering oil and gas condensate at Iran Energy Exchange (IRENEX) were listed, Shana reported.

Iron ore concentrate output rises 4% in 7 months on year

TEHRAN- Production of iron ore concentrate in Iran during the first seven months of the current Iranian calendar year (March 21-October 22) has risen four percent compared to the same period of time in the past year, IRIB reported on Tuesday citing the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Iran’s international bourse to be set up by Mar. 2020

TEHRAN- Iran will establish its first international bourse by the end of the current Iranian calendar year (March 19, 2020), managing director of Kish Free Zone Organization announced on Monday.

By Mahnaz Abdi

Imposing duty on exports of iron ore a right decision?

In a bid to prevent the exports of unprocessed minerals, creating more value added and meeting the requirements of domestic producers for the raw materials, Iran has levied a 25-percent duty on the exports of raw minerals (specially iron ore) since September 23.

Iran, China form joint arbitration committee for trade ties

TEHRAN – Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) said Iran and China have established a joint arbitration committee to supervise the trade between the two sides.

Expansion of trade ties discussed between Iran, Georgia

TEHRAN – Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie met with Head of Parliamentary Friendship Group of Georgia-Iran Shalva Kikenaveldezia on Sunday to discuss expansion of trade ties.

‘Gasoline rationing could bring Iran $3b of exports revenue a year’

TEHRAN - Deputy minister of economic affairs and finance of Iran says the fuel rationing plan would make the country able to export 3.65 billion liters of gasoline every year and earn about 14 trillion rials (about $3.3 billion) from the exports.

Southwestern Iranian port to be connected to Syria through Iraq

TEHRAN – Iran plans to connect its southwestern port of Emam Khomeini to Syria’s Latakia Port via a railway which passes through Iraq, IRIB reported, quoting head of the Islamic Republic of Iran Railways (IRIR).

Iran’s 7-month non-oil imports down over 5% yr/yr

TERHAN - The value of non-oil imports to Iran stood at $25 billion in the first seven months of the current Iranian calendar year (March 21-October 22), down 5.3 percent from the figure for last year’s same period, IRNA reported.

IGTC completely ready for gas supply during winter

TEHRAN- Iranian Gas Transmission Company (IGTC)’s managing director said his company is completely prepared for sustainable gas supply throughout the country during winter, Shana reported.

No worries over supply of basic goods: GTC head

TEHRAN – Managing director of Iranian state-run Government Trading Corporation (GTC) said there are no worries over the supply of basic goods in the country, IRIB reported.

Govt. supports fuel rationing plan

TEHRAN – Iran’s Supreme Economic Coordination Council called on all the country’s institutions and entities to cooperate in implementation of the fuel consumption management plan, IRNA reported.

‘Gasoline price hike doesn’t entail any increase in commodity prices’

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani said any increase in commodity prices on the pretext of gasoline price hike is illegal, Shana reported.

Exports of metallic minerals, products up nearly 12% in H1

TEHRAN – The value of Iran’s metallic minerals and products exports increased by 11.7 percent in the first six months of the current Iranian calendar year (March 21-September 22) compared to the figure for last year’s same period, IRNA reported on Saturday.

‘Rationing expected to reduce gasoline consumption’

TEHRAN - Gasoline consumption in Iran is expected to fall up to 10 percent, considering the recent price increase and implementation of rationing plan, Tasnim news agency reported on Saturday, quoting managing director of National Iranian Oil Products Distribution Company (NIOPDC).

Iran to host 2nd meeting of ECO energy, petchem consortium in 2020

TEHRAN - Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is going to host the second meeting of Economic Cooperation Organization (ECO)'s Public and Private Sector Energy and Petrochemical Consortium and Companies in 2020 to strengthen energy trade among ECO members.

TEDPIX rises 71% since March

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE) has risen 71 percent since the beginning of current Iranian calendar year (March 21), Mehr news agency reported on Friday citing the data released by Iran’s Securities and Exchange Organization (SEO).

Iran starts gasoline rationing, raises fuel prices

TEHRAN – The Iranian government started on Friday rationing of subsidized gasoline and increased fuel prices as it plans to use the revenue for supporting underprivileged families.

Steel exports by major producers up 8% in 7 months on year

TEHRAN- Exports of steel by ten major producers in Iran hit 4.049 million tons in the first seven months of the current Iranian calendar year (March 21-October 22), up eight percent compared to the same period of time in the past year, IRNA reported on Wednesday.

By Mahnaz Abdi

Tax exemptions in FTZs under debate

Development of existing free trade zones (FTZs) and establishment of new FTZs is currently one of the major economic approaches of Iran and in a bid to attract more investments to these zones Iranian government offers various incentives to the investors.

‘Plan for rationing subsidized gasoline to be finalized in a week’

TEHRAN – Iran’s government spokesman Ali Rabiei said on Wednesday the details of a government plan for rationing subsidized gasoline will be finalized by the next week, Tasnim news agency reported.

Iran to hold over 6% share of world’s petchem production by 2025

TEHRAN - Head of Iran’s National Petrochemicals Company (NPC) says by the Iranian calendar year of 1404 (starts in March 2025) Iran’s petrochemical industry will be accounting for 6.2 percent of the total global petrochemical output.

Syria ready to provide facilities to Iranian companies: envoy

TEHRAN - Syrian ambassador to Tehran expressed his country’s readiness for providing facilities to Iranian companies which contribute to Syria’s reconstruction, IRNA reported on Tuesday.

Copper projects worth €2.5b underway across Iran

TEHRAN – Iranian Industry, Mining and Trade Minister Reza Rahmani said €2.5 billion worth of projects in the copper industry are underway across the country including Kerman, Yazd and East Azarbaijan provinces, IRNA reported on Tuesday.

Oil ministry inks 26 major research-based deals with universities

TEHRAN – Iranian deputy oil minister for engineering, research and technology affairs said the ministry has signed 26 major deals with the country’s universities, IRNA reported.

Rouhani inaugurates several development projects in southeastern province

TEHRAN- Iranian President Hassan Rouhani inaugurated several development projects in the southeastern province of Kerman on Monday, IRNA reported.

BY: Ebrahim Fallahi

Details of Iran’s newly discovered oil reservoir unveiled

TEHRAN –Iranian Oil Minister Bijan Namdar Zanganeh briefed the press on the details of the newly discovered 53-billion oil reservoir in an unveiling ceremony in Tehran on Monday.

Industry ministry following 34 programs to promote production

TEHRAN - Iran’s Ministry of Industry, Mining and Trade is implementing 34 executive programs for promoting domestic production across the country in the current Iranian calendar year (began on March 21), ILNA reported on Monday, quoting the industry minister.

Iran hosting 7th UIC Next Stations Conference

TEHRAN- Islamic Republic of Iran Railways (known as RAI) is hosting the 7th UIC Next Stations Conference in Tehran from November 11 to 13, IRNA reported.

Iranian private sector ready to improve Syria’s power grid

TEHRAN - Deputy head of Iran Electrical Industry Syndicate said Iranian private companies are ready to help Syria reduce losses in the country’s electricity grid, IRNA reported on Sunday.