160 foreign companies to attend Iran Agrofood 2019

TEHRAN- The 26th International Exhibition of Food, Food Technology and Agriculture of Iran (Agrofood 2019), due to be held on June 18-21 at the Tehran Permanent International Fairgrounds, will be hosting 160 foreign companies, IRIB reported.

Iran ready to establish new petchem hub

TEHRAN – The National Petrochemical Company (NPC) signed a memorandum of understanding with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) for establishing a new petrochemical complex in Hormozgan Province adjacent to Persian Gulf waters.

‘Iran among 8 advanced countries in railway signaling technology’

TEHRAN - The head of Islamic Republic of Iran Railways (known as RAI) announced that Iran is currently among top eight countries regarding the technology of railway signaling systems, IRIB reported.

Iran doesn’t intend to leave OPEC despite tensions: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the country doesn’t have any plans to leave OPEC despite the tensions that some fellow-members are creating in the organization, Shana reported on Saturday.

Non-oil exports hit $8.4b in 2 months, up nearly 9% yr/yr

TEHRAN – The value of Iran’s non-oil exports reached $8.4 billion in the first two months of the current Iranian calendar year (March 21-May 21), up 8.9 percent compared to the last year’s same period, IRNA reported on Sunday quoting the acting head of TPO.

BY: Ebrahim Fallahi

“Redundant” sanctions vs. “resilient” economy

As the United States sanctioned Iran’s Persian Gulf Petrochemical Industries Company (PGPIC) on Friday, many analysts and officials believe them to have no significant impact on the country’s economy in a broad sense.

NIOC sells 1.085m barrels of oil, condensate in 17 offerings at IRENEX

TEHRAN- National Iranian Oil Company could sell 1.085 million barrels of crude oil, both light and heavy, and also gas condensate through 17 offerings at Iran Energy Exchange (IRENEX) during the past seven months since offering these products kicked off at Iranian stock market, Shana reported.

Monthly loading, unloading rises 5% at Imam Khomeini Port yr/yr

TEHRAN- Loading and unloading of commodities at Iran’s Imam Khomeini Port, in southwestern Khuzestan Province, rose five percent during the second month of the current Iranian calendar year (April 21-May 21) compared to the same month of the past year, Tasnim news agency reported.

Iran pavilion to showcase food industry at Food Istanbul 2019

TEHRAN – Iran’s Trade Promotion Organization (TPO) is planning to open Iranian pavilion at the Food and Beverage Products, Food Processing Technologies Fair (Food Istanbul 2019) which is due to be held during September 4-7 at Istanbul’s CNR Expo Yesilkoy, the portal of TPO announced.

By Ebrahim Fallahi

‘Iran to maintain metal exports despite U.S. sanction’

TEHRAN - Iranian deputy industry, mining and trade minister said the ministry has taken necessary measures to maintain the country’s metal exports despite U.S. sanctions.

India holds high-level meeting on oil, gas while imports from Iran stops

TEHRAN- In a high-profile meeting chaired by Home Minister Amit Shah on Tuesday, top ministers of the Narendra Modi government held talks on the issue of investment in petroleum and gas sector a month after the U.S. waiver for India to import oil from Iran came to an end, The Statesman reported on Friday.

Iran opposes moving OPEC’s next meeting to July: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh, in a letter seen by Reuters, said he disagreed with an OPEC proposal to reschedule the meeting to early July.

Netherlands plans to join INSTEX

TEHRAN- The Dutch government announced that it plans to join the financial mechanism of Instrument in Support of Trade Exchanges (INSTEX) to do business with the Islamic Republic of Iran, IRNA reported on Friday.

‘Annual wheat production estimated to rise 1.2m tons’

TEHRAN- Iran’s annual production of wheat is estimated to grow 1.2 million tons in the current Iranian calendar year (ends on March 19, 2020), Esmaeil Esfandiari-Pour, the advisor to Agriculture Minister, told IRIB on Sunday.

TCCIMA to dispatch trade delegation to Belarus in late-July

TEHRAN- Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is going to dispatch a trade delegation to Belarus capital city of Minsk on July 23, TCCIMA portal reported.

‘Tehran, Ankara working on mechanism to bypass U.S. sanctions’

TEHRAN- Iran and Turkey are working on a financial mechanism channel to bypass the U.S. unilateral sanctions, Iran’s Ambassador to Turkey Mohammad Farazmand announced.

Iran, Ukraine discuss more co-op between chambers of commerce

TEHRAN- In a meeting between Gholam-Hossein Shafeie, the head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), and Serhii Burdyliak, Ukraine’s ambassador to Iran, the two sides explored the ways for boosting cooperation between the two countries’ chambers of commerce, ICCIMA news portal published.

BY: Ebrahim Fallahi

‘$8b allocated to supply basic goods in 2 months’

TEHRAN – Central Bank of Iran (CBI) has allocated $8 billion for importing basic goods in the first two months of the current Iranian calendar year (March 21- May 21), Deputy Minister of Industry, Mining and Trade told Tehran Times on Saturday.

Iran, Tajikistan seeking expansion of water, energy tie

TEHRAN – Iran and Tajikistan are exploring avenues of cooperation in water and energy sectors, IRNA reported quoting Iranian energy minister as saying on Friday.

IRENEX to hold offering of 2m barrels of gas condensate on Monday

TEHRAN- Offering two million barrels of gas condensate produced in Iran’s South Pars gas field will be held at Iran Energy Exchange (IRENEX) on Monday, Shana reported.

Rezaee says Iran will surely overcome U.S. economic blockade

TEHRAN – Mohsen Rezaee, secretary of the Expediency Council, has voiced certainty that Iran will finally defeat the economic blockade imposed by the United States.

20 new petchem projects to go operational in Iran by 2022: NPC

TEHRAN – Iranian oil ministry plans to complete 20 prioritized petrochemical projects across the country by the end of the Iranian calendar year of 1400 (March 2022), IRIB reported quoting the head of National Petrochemical Company (NPC).

Annual exports from free zones at $17b

TEHRAN- The value of domestically-made products exported from Iran’s free zones stood at $17 billion in the past Iranian calendar year (ended on March 20, 2019), according to an official with Iran’s Free Zones High Council.

Iran, China call for expansion of economic ties

TEHRAN - Iranian Finance and Economic Affairs Minister Farhad Dejpasand received the Chinese Ambassador to Tehran Pang Sen on Thursday to discuss trade and to pay gratitude for the ambassador’s efforts during his five-year mission in Iran.

Asia's imports of Iranian oil surge to 9-month high

TEHRAN - Asia's imports of Iranian oil in April hit a record nine-month high as buyers rushed to ship in purchases before their waivers from U.S. sanctions on Iran expired in May, Reuters reported on Friday citing data from government and trade sources.

HK disparages U.S. warnings on violating Iranian sanctions

TEHRAN – Hong Kong has dismissed U.S. threats of penalty for receiving an oil vessel which carries Iranian oil to the autonomous city, Sputnik reported on Thursday.

Monthly non-oil exports from PSEEZ up 32% yr/yr

TEHRAN- Non-oil exports from Pars Special Economic Energy Zone (PSEEZ) in Iran’s southwestern port city of Assaluyeh reached 1.967 million tons in the past Iranian calendar month of Ordibehesht (April 21-May 21), rising 32 percent compared to the same month in the past year, according to a customs official.

Iran self-sufficient in wheat production for 4th consecutive year

TEHRAN- For the fourth year in a row, Iran’s wheat harvest is enough to make it self-sufficient in the strategic crop, Press TV quoted an official as saying on Tuesday.

Russia’s Gazprom still considering participation in Iran’s energy projects

TEHRAN – Russia is still evaluating potential participation in Iran’s energy projects, Tass reported quoting the company’s deputy chief executive officer.

India seeking to resume oil imports from Iran

TEHRAN – India is planning to resume oil imports from Iran and the new government is going to hold talks with Iran in order to discuss ways of getting around U.S. sanctions like paying in national currencies.