IMIDRO identifies 760 new promising mineral zones

TEHRAN – Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that his organization has managed to identify over 760 new promising mineral zones across the country, IRIB reported on Monday.

Industry Ministry to facilitate imports of healthcare products

TEHRAN – Iranian Industry, Mining, and Trade Ministry has released a statement offering companies active in the field of importing hygiene and healthcare products facilitative services, IRIB reported on Sunday.

Iran’s oil rig operations ongoing despite coronavirus outbreak

TEHRAN – Head of National Iranian Drilling Company (NIDC) says despite the coronavirus outbreak, all operations in the country’s oil and gas rigs are ongoing in full compliance with safety and healthcare standards, Shana reported.

Industry ministry authorizes 17 companies to import healthcare products

TEHRAN – Iranian Industry, Mining, and Trade Ministry has sent the list of 17 companies authorized for importing healthcare products to the Health Ministry.

Iran designs AVC system for hydroelectric power plants

TEHRAN – Iranian experts and engineers have indigenized the knowledge for manufacturing automatic voltage control (AVC) system, which is high-technology equipment used in hydroelectric power plants, IRNA reported.

Last offshore platform of South Pars phase 13 installed

TEHRAN - Platform 13C, the fourth and last platform of phase 13 of Iran’s South Pars gas field’s development project, was installed on its designated offshore spot on Saturday evening, Public Relations Department of Pars Oil and Gas Company (POGC), which is in charge of developing the gas field, announced.

Official urges govt., private sector to set up taskforce to spur export amid coronavirus outbreak

TEHRAN – Head of Energy Commission of Tehran Chamber of Commerce Hamid-Reza Salehi on Sat. called on government and private sector to set up Economy-Industry Headquarters amid the outbreak of the novel coronavirus in the country.

‘OPEC, non-OPEC agreement reachable before April’

TEHRAN- Iranian Minister of Petroleum Bijan Namdar Zanganeh says OPEC+ could reach an agreement to consider deeper cuts in the group’s output before the end of March., Shana reported.

Oil market reeling from supply glut: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh says there is an oversupply in the crude oil market, saying OPEC and non-OPEC producers need to discuss how to ensure market balance.

Economic bodies call on govt. to support businesses against coronavirus outbreak

TEHRAN – Heads of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Iran Chamber of Cooperatives (ICC), and Iran Chamber of Guilds (ICG), in a letter to President Hasan Rouhani, called for special measures to be taken for supporting various economic sectors at least until the end of the next summer (September 22, 2020) amid the coronavirus outbreak.

Majlis releases draft of revised budget bill for next year

TEHRAN – Iranian parliament’s ad hoc budget review committee has released the revised version of the administration’s budget bill for the next Iranian calendar year (starting March 20), after the Leader of Islamic Revolution Ayatollah Ali Khamenei approved the parliament’s request for taking necessary actions on the matter.

Daily gasoline consumption falls to 70m liters

TEHRAN – Average daily gasoline consumption in Iran has fallen another 10 percent to reach 70 million liters following the implementation of the rationing scheme, according to National Iranian Oil Products Distribution Company (NIOPDC)’s planning director.

Plan for reviving small mines progresses over 95%: IMIDRO

TEHRAN – Over 95 percent of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)’s plan for reviving small mines across the country has been realized in the first 11 months of the current Iranian calendar year (March 21, 2019-February 19, 2020).

Production of antiseptics doubled in a month

TEHRAN – Iranian Industry, Mining, and Trade Minister Reza Rahmani says the production of antiseptic products in the country has doubled since the beginning of the current Iranian calendar month (February 20), IRNA reported.

‘South Pars phase 11 development operations to start soon’

TEHRAN - National Iranian Oil Company (NIOC)’s deputy director for development and engineering affairs says the development operations of South Pars gas field’s phase 11 of development are going to be started in near future, Shana reported.

Iran to produce 9 major petchem catalysts in 2 years

TEHRAN – Iran is planning to indigenize nine major catalysts used in the petrochemical industries within the next two years, Shana reported, quoting the managing director of the country’s Petrochemical Research and Technology Company (PRTC).

Budget review committee submits report to Majlis

TEHRAN - Iranian parliament’s ad hoc budget review committee submitted its report on the administration’s budget bill for the next Iranian calendar year (starting March 20) to the parliament (Majlis), IRNA reported on Sunday.

Mining projects worth over $1.2b ready to come on stream: IMIDRO

TEHRAN- Several projects worth more than $1.2 billion are ready to be inaugurated in Iran’s mining sector across the country, IRNA reported, quoting the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) as saying.

NIOC’s exploratory drillings surpass 13,000 meters

TEHRAN – National Iranian Oil Company (NIOC)’s Exploration Directorate has managed to drill nine exploratory wells with a total depth of 13,281 meters in the current Iranian calendar year (ends on March 19), Shana reported on Sunday, quoting an official with the company.

Petchem exports up 5% in 10 months on year

TEHRAN- The value of Iran’s petrochemical exports during the first 10 months of the current Iranian calendar year (March 21, 2019-January 20, 2020) rose five percent compared to the same period of time in the past year, IRNA reported on Sunday.

Growth returns to TSE, IFB

TEHRAN- Tehran Stock Exchange (TSE), which is Iran’s major exchange, and Iran’s over-the-counter (OTC) market witnessed growth of their indexes on Sunday after they had experienced some sharp fall on Saturday (the first day of Iranian calendar week).

Domestic steel consumption surplus to reach 10m tons

TEHRAN - Head of Tehran Iron and Steel Traders Union says the country’s domestic steel consumption is expected to reach 17 million tons in the current Iranian year (ends on March 19), and considering the production plans there will be a 10 million-ton surplus this year, IRNA reported.

SEO changes regulations on trading codes for new shareholders

TEHRAN- Iran’s Securities and Exchange Organization (SEO) has set new regulations for issuance of trading codes for the new shareholders in the country’s stock market, ISNA reported on Saturday.

By Mahnaz Abdi

Sanctions not to impede Iranian steel sector’s upward trend

Although in early May last year, the U.S. imposed new sanctions on Iran targeting the country’s metals sector, the report released by World Steel Association (WSA) and also Iranian organizations indicate that not only did not the new round of sanctions hinder Iranian steel sector, this industry has preserved its growth trend as well.

NPC producing antiseptic products to battle coronavirus

TEHRAN – Iran’s National Petrochemical Company (NPC) is producing antiseptic products following an all-out mobilization for containing the coronavirus, Shana reported on Friday, quoting an official with the company.

TEDPIX climbs 10% in a week

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 10 percent during the past Iranian calendar week (ended on Friday), IRNA reported.

‘Iran establishes intl. banking ties beyond FATF’

TEHRAN - The governor of the Central Bank of Iran (CBI) says the country has established international banking ties that are unsanctionable and also do not relate to FATF, Mehr news agency reported.

Water, electricity networks back to normal in flood-hit regions

TEHRAN - Head of Iranian Energy Ministry's Crisis Management Office, Meisam Jafarzadeh, said electricity network is back in normal operation after the recent floods in western and southwestern provinces.

Tehran, Islamabad discuss free trade agreement

TEHRAN – A Trade delegation from Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) traveled to Pakistan to discuss expansion of trade ties between the two countries.

25,000 nomadic households to access solar electricity by Mar.2021

Tehran – Head of Nomads Affairs Organization of Iran says 25,000 nomadic households are going to be supplied with photovoltaic power stations (known as PV systems) by the end of the next Iranian calendar year (March 2021).