Major automakers’ monthly output exceeds 103,000

TEHRAN - Three major Iranian carmakers, namely Iran Khodro (IKCO), SAIPA Group and Pars Khodro, manufactured 103,677 vehicles during the tenth Iranian calendar month of Dey (December 22, 2019-January 20, 2020), IRNA reported citing the data released by Codal website.

Iran to start offering 2 new oil products at IRENEX next week

TEHRAN – Two new oil products, namely Propylene and Normal Hexane, are going to be offered at Iran Energy Exchange (IRENEX) for the first time next week, IRNA reported on Monday, quoting the managing director of IRENEX.

Red meat production down 3% in Q3 yr/yr

TEHRAN- Production of red meat in Iran has dropped three percent during this year’s autumn (which corresponds to the third quarter of the Iranian calendar year) compared to the same season in the previous year, Statistical Center of Iran (SCI) has announced.

South Pars condensate storage capacity hits 3.5m barrels

TEHRAN – Pars Oil and Gas Company (POGC) has increased the capacity of the South Pars gas field’s condensate storage facilities in southern Iran up to 3.5 million barrels, IRNA reported on Monday, quoting POGC’s projects manager for South Pars storage facilities.

TCCIMA holds meeting to discuss energy issues

TEHRAN – The 13th gathering of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)’s Energy Committee was held on Monday to discuss various energy issues including renewables, petrochemicals, as well as oil and gas industry, Shana reported.

‘NIOC seriously pursuing development of joint fields’

TEHRAN - Director of the integrated planning at the National Iranian Oil Company (NIOC) says the company is seriously following up on developing the West Karoun and South Pars joint fields and the contractors for the rest of the shared fields are also mostly determined.

‘Six prioritized freeway projects to be completed in 2 years’

TEHRAN – Deputy Iranian Transport and Urban Development Minister Kheirollah Khademi says six prioritized freeways projects with a total length of 550 kilometers (KM) are planned to be inaugurated by the Iranian Calendar year of 1400 (starts in March 2021).

TPO’s package for supporting non-oil exports approved

TEHRAN – Iran’s Resistance Economy Headquarters has approved a “Non-Oil Export Support Package” prepared by the Trade Promotion Organization (TPO) for the rest of the current Iranian calendar year (ends on March 19, 2020), the TPO portal reported on Sunday.

Self-sufficiency in auto parts manufacturing at 80%

TEHRAN- Iran has achieved 80 percent self-sufficiency in manufacturing of auto parts, Iranian Auto Parts Makers Association Maziar Beyglou said in a TV program on Saturday.

Petropars becomes sole developer of South Pars phase 11

TEHRAN – National Iranian Oil Company (NIOC) has put the domestic Petropars in charge of the development of phase 11 of the giant South Pars gas field (in the Persian Gulf), following the withdrawal of Total and CNPC, IRNA reported.

Oil recovery from Azadegan oil field to increase by 3.5b barrels

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Tehran University is committed to increase Azadegan oil field’s recovery factor up to 10 percent from its current six percent, which means an increase of up to 3.5 billion barrels of the field’s recoverable reserves.

Iran’s steel production hits record of 30% growth in 2019: WSA

TEHRAN- Iran’s crude steel production increased by 30 percent in 2019 while the average global growth in this sector stood at 3.5 percent, according to a report released by the World Steel Association (WSA).

Non-oil trade at over $72b in 10 months

TEHRAN- The value of Iran’s non-oil trade hit $72.3 billion during the first ten months of the current Iranian calendar year (March 21, 2019-January 20, 2020), the head of Islamic Republic of Iran Customs Administration (IRICA) announced in a press conference on Sunday.

Stock market advances on Saturday

TEHRAN- Iran’s stock market started this Iranian calendar week with growth on Saturday, IRNA reported.

IRAN LIFTEX 2020 running in Tehran

TEHRAN- Tehran Permanent International Fairgrounds is hosting the 8th International Exhibition of Elevators, Escalators, Elevating Conveyors and Accessories.

Housing prices rise 3% in Tehran City in a month

TEHRAN- The housing prices in Iran’s capital city, Tehran, went up three percent during the past Iranian calendar month of Dey (December 22, 2019-January 20, 2020), Tasnim news agency reported on Saturday, citing the data released by Ministry of Transport and Urban Development.

Over 500,000 tons of commodities traded at IME in a week

TEHRAN- During the past Iranian calendar week (ended on Friday), Iran Mercantile Exchange (IME) witnessed the trade of 555,000 tons of commodities valued at $738 million, the Public Relations and International Affairs Department of IME reported.

‘OMO to control, not to lower liquidity growth’

TEHRAN- Ali Eslami Bidgoli, a member of Iran’s Securities and Exchange High Council, says that Open Market Operation (OMO) system, recently launched by the Central Bank of Iran (CBI), should not be expected to reduce the inflow of liquidity into the market, while it is to control it.

By: Ebrahim Fallahi

Iran gas situation: Are power plants facing feedstock shortage?

TEHRAN – Following the new wave of cold weather blanketing Iran in recent weeks, natural gas consumption by the Iranian households has hit new record highs, ringing warning bells about possible problems regarding fuel supply to the country’s power plants and industry sector which mainly consume natural gas.

NIDC digs 96 oil, gas wells in 10 months

TEHRAN- National Iranian Drilling Company (NIDC) dug and completed digging operation of 96 oil and gas wells during the first ten months of the current Iranian calendar year (March 21, 2019-January 20, 2020), Shana reported.

TPO to hold conference on sustainable supply of basic commodities

TEHRAN- Iran’s Trade Promotion Organization (TPO) is planning to hold a conference on the stable supply of basic and strategic commodities on March 3, the organization’s Public Relations Department reported.

Iran a major producer of glass in world

TEHRAN- The secretary of Iran’s glass union says through producing 2.2 million tons of glass per year Iran is a leading producer of the product in the world.

9% VAT applied for goods produced in free zones

TEHRAN – The government is applying nine percent of value added tax (VAT) for all commodity items which are produced in Iran’s free trade zones (FTZs), a manager with Iran’s Free Zones High Council said.

Value of trades at TSE rises 30% in a week

TEHRAN- The value of trades at Tehran Stock Exchange (TSE) rose 30 percent in the past Iranian calendar week (ended on Friday), according to a report published on the official website of TSE.

Rice imports at nearly 1.3m tons in 10 months

TEHRAN- Iran has imported 1.298 million tons of rice during the first 10 months of the current Iranian calendar year (March 21, 2019-January 20, 2020), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced.

IFCC calls for optimizing gas consumption as cold weather persists

TEHRAN – Iran Fuel Conservation Company (IFCC) has called for optimization of the consumption of energy carriers considering the country’s natural gas consumption has reached a record high in recent weeks, IRNA reported on Thursday.

Tehran hosting intl. bitumen, asphalt exhibition

TEHRAN- The 11th edition of International Bitumen, Asphalt, Insulation and Related Machinery Exhibition of Iran (BAIEX 2020) opened at the Tehran Permanent International Fairgrounds on Thursday, IRIB reported.

Foreign investment in Iran up 23% in 9 months

TEHRAN - Foreign investment in Iran has risen 23 percent during the first nine months of the current Iranian calendar year (March 21-December 21, 2019) from the same period of time in the past year, Iranian Finance and Economic Affairs Minister Farhad Dejpasand announced.

TEDPIX, IFX climb on Wednesday

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE) rose 5,202 points to 411,211 on Wednesday, IRNA reported.

Iranian banks pay over $149b in loans since mid-March 2019

TEHRAN- Iranian banking system has paid 6.26 quadrillion rials (about $149 billion) in loans to domestic economic sectors since the beginning of the current Iranian calendar year (March 21, 2019), the governor of Central Bank of Iran (CBI) said on Tuesday.