Iran, Iraq hold meeting on Joint Trade Committee establishment

TEHRAN – Following the agreements on establishing an Iran-Iraq trade committee, officials from the two sides held a meeting to discuss the issue, the portal of Trade Promotion Organization (TPO) of Iran reported on Sunday.

India considering new bank to facilitate trade with Iran

TEHRAN - Indian Ambassador to Tehran Gaddam Dharmendra said India is considering a new bank besides UCO bank for undertaking trade with Iran, IRIB reported.

Iran’s offshore oil production steady: IOOC

TEHRAN – The managing director of Iranian Offshore Oil Company (IOOC) said the country’s offshore oil production hasn’t experienced any reduction and some of the May cargoes have been loaded to be shipped, Bloomberg reported.

Persian Gulf Star Refinery’s capacity to reach 540,000 bpd

TEHRAN - Daily processing capacity of Iran’s Persian Gulf Star Refinery is going to reach 540,000 barrels per day (bpd) by the end of the current Iranian calendar year (March 20, 2020), according to the managing director of the refinery.

Tehran, Damascus willing to expand customs, trade co-op

TEHRAN- In a meeting between Mehdi Mir-Ashrafi, the head of Islamic Republic of Iran Customs Administration (IRICA), and Samer al-Debes, the Chairman of Chamber of Industry of Damascus and its Countryside, the two sides expressed eagerness for the expansion of customs and trade ties between Iran and Syria.

Iran all set to sell oil in a ‘gray market’

TEHRAN – Iran is mobilizing all its resources to sell its oil in a gray market, countering unjust and illegitimate U.S. sanctions, IRNA quoted Deputy Oil Minister Amir-Hossein Zamaninia as saying on Sunday.

Mega export projects on agenda for identifying target markets

TEHRAN- Iran plans to launch 15 mega export projects to identify more target markets, the acting head of Trade Promotion Organization (TPO) announced on Saturday.

U.S. not successful in zeroing Iranian oil exports: Reuters

TEHRAN – Although Iranian oil exports are expected to fall in May but the United States has not been successful in driving Iranian oil exports to Zero, Reuters reported, citing industry sources.

Iran has 3rd largest GOR among region’s oil exporters: IMF

TEHRAN - The International Monetary Fund (IMF) in its latest Regional Economic Outlook titled “Regional Economic Outlook: Middle East, North Africa and Central Asia” puts Iran’s Gross Official Reserves (GOR) at $108.3 billion for 2018, marking it the third biggest oil exporting country in terms of GOR.

By Mahnaz Abdi

Significant annual jump for minerals production, exports

Iranian mining sector witnessed some prominent growth both in production and export during the past Iranian calendar year (ended on March 20, 2019).

By Ebrahim Fallahi

Iran's petrochemical industry unsanctionable: NPC head

TEHRAN – The managing director of Iran’s National Petrochemical Company (NPC) said petrochemical industry is not like oil industry and it is practically unsanctionable.

No oil leak, no injury by break-down Iranian oil tanker in Red Sea

TEHRAN- An Iranian oil tanker carrying over one million barrels of oil suffered a malfunction in the Red Sea off the coast of Saudi Arabia.

Excluding Iran from oil market impossible: Barkindo

TEHRAN- The secretary-general of the Organization of Petroleum Exporting Countries (OPEC) said it is "impossible" to eliminate Iranian crude from the global market, Shana reported.

Iran will respond to any threat from fellow OPEC members: Zanganeh

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh said his country will respond to any threat by fellow OPEC member states, Shana reported.

700 rooftop PV stations to be installed in Southeast Iran

TEHRAN – Imam Khomeini Relief Foundation has founded the construction of 700 rooftop photovoltaic power stations (known as PV systems) in Kerman Province (southeast Iran) of which 520 are ready for use, Mehr news agency reported on Wednesday quoting an official.

Iran Oil Show 2019 hosting 106 foreign exhibitors

TEHRAN- The 24th Iran International, Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2019), which kicked off at Tehran Permanent International Fairgrounds on Wednesday, is hosting 106 foreign exhibitors from 21 countries, Shana reported.

By: Ebrahim Fallahi

Iranian, Syrian private sectors seek to bolster trade ties

TEHRAN – Iranian and Syrian officials, entrepreneurs and businessmen once again came together on Wednesday in a business forum in Tehran to explore ways for enhancing trade ties.

‘Absence of gas supplies from Iran could shut down half of Iraq’s power plants’

TEHRAN – Without Iranian gas supplies half of Iraq’s natural gas power plants will close down in the summer, IRNA quoted a member of the trade committee of Iraqi parliament as saying on Tuesday.

U.S. sanctions on Iran would hurt India’s economy: Indian envoy

TEHRAN - The Indian ambassador to the United States said on Tuesday U.S. sanctions on Iran could boost oil prices and inflation to a point that hurts the common people in India.

Over $857m of loans to be offered to industrial units

TEHRAN- Iranian deputy industry minister said that 360 trillion rials (about $857.1 million) of facilities will be granted to the industrial units in the current Iranian calendar year (started on March 21) in the framework of production flourishing plan, IRNA reported.

Up to 1GW of new power plants to come on stream

TEHRAN – Up to 1000 megawatts capacity of new power plants are going to be added to the country’s electricity network to supply the demands in the summer peak period, IRNA reported on Tuesday quoting a deputy at Iran’s Power Generation and Distribution Company (known as TAVANIR).

India insisting on oil imports from Iran

TEHRAN – India’s External Affairs Minister said that India should be allowed to continue importing oil from Iran at least for a longer time span, Hindustan Times reported citing people familiar with developments.

INSTEX chief briefs British businesses on mechanism progress

TEHRAN - President of Europe's special purpose mechanism for trade with Iran, known as Instrument for Support of Trade Exchanges (INSTEX), discussed the progress of the mechanism in a meeting with British officials, manufactures and heads of businesses in London, IRNA reported.

NIMA supplies €1.84b for imports of goods, services

TEHRAN- Iran’s domestic Forex Management Integrated System (locally known as NIMA) has supplied €1.840 billion for imports of goods and services since the beginning of the current Iranian calendar year (March 21) up to Sunday, IRNA reported.

A year with 6,447 more exporters

TEHRAN- The number of Iran’s exporters rose 6,447 in the past Iranian calendar year (ended on March 20, 2019), the acting head of Trade Promotion Organization (TPO) announced on Monday.

‘No country can replace Iran in oil market’

TEHRAN- No country can replace Iran in the global oil market, Iranian Deputy Oil Minister Amir-Hossein Zamaninia stressed.

Iran, Turkey ink MOU on transportation co-op

TEHRAN – Iran and Turkey signed a memorandum of understanding for expanding transportation cooperation, IRIB reported.

Iranian official warns of oil going above $100

TEHRAN - Chairman of Majlis (Parliament) Energy Commission, Fereydoun Hasanvand warned that oil prices are going to surge above $100 per barrel following the U.S. decision to end the waivers.

‘CBI planning for sustainable inflation management’

TEHRAN - Central Bank of Iran (CBI) Governor Abdolnaser Hemmati said that by controlling the short-term interest rates and infusing changes in the country’s monetary policy, the bank is planning to manage inflation in the long-run, IRNA reported on Sunday.

Iran’s crude steel production capacity to rise 25m tons in 4 years

TEHRAN- Iran’s crude steel production capacity will increase by 25 million tons within the next four years, according to a deputy director in Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).