Domestic production to save Iran $10b in 2 years

TEHRAN- Iranian Industry, Mining and Trade Minister Reza Rahmani said that relying on domestic production will save $10 billion for the country in the next two years, IRIB reported.

Leader urges domestic producers not to wait for sanctions to end

TEHRAN – Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei called on the country’s producers to solely rely on their own capabilities to boost the country’s economy and not to wait for U.S. sanctions to end.

By Mahnaz Abdi

Establishment of trade offices abroad on agenda

It has been proven that the U.S. cannot achieve its target of driving Iran’s oil exports to zero, but there is no doubt about Trump administration’s maximum pressure strategy toward Iranian economy.

Zarif: Subjecting construction workers to economic terrorism only manifests maximum failure of “maximum pressure”

TEHRAN – Following U.S. sanctions on Iran’s construction sector, Foreign Minister Mohammad Javad Zarif wrote on his Twitter account on Friday that such moves show the “maximum failure of maximum pressure”.

Sanctions to have no additional impacts on Iran's economy in 2020: IMF

TEHRAN - Director of the International Monetary Fund (IMF)'s Middle East and Central Asia Department said U.S. sanctions are not going to have any new major impacts on Iran’s economy in the upcoming year.

Efforts for halting Iranian oil industry’s development failed: Zanganeh

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said the U.S. efforts for stopping development of the country’s oil industry has failed, Tasnim news agency reported.

*By Mohammad Ghaderi

Continuous duality by Washington

The U.S. Special Representative for Iran, Brian Hook, claimed in an interview with Alhurra recently that Iran should decide between its economy or talks with the United States. 

BY: Ebrahim Fallahi

U.S. allies in Asia paying the price for Iran sanctions

TEHRAN – As one of the world’s top oil producers, Iran for long has been among the major crude suppliers to Asia and due to its high quality reserves which are significantly low in sulfur, many Asian refineries are designed to solely process various grades of Iranian crude oil and gas condensate.

Iran to take all necessary measures to keep oil exports afloat: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Sunday that Iran will use any possible way to export its oil, stressing that exporting crude was the country’s legitimate right.

By Ebrahim Fallahi

A look into Iran’s PGPIC after sanctions hit the holding

As Iran’s largest petrochemical group which extends to 39 subsidiaries and foreign-based sales agents, Persian Gulf Petrochemical Industries Company (PGPIC) has been considered one of the most profitable entities in the country’s economic body.

Iran’s crude steel output up 6% in 8 months yr/yr: WSA

TEHRAN- Production of crude steel in Iran during the first eight months of 2019 has risen six percent from that of the same period of time in 2018, World Steel Association (WSA) has announced in its recent report.

India renews efforts to persuade U.S. into lifting Iranian oil sanctions

TEHRAN- Following the recent attacks on Saudi Aramco’s oil installations, which have led to disruptions in supplies from Saudi Arabia, Indian authorities have renewed their efforts to persuade the United States to lift sanctions on imports of oil from Iran, Press TV reported.

BY: Ebrahim Fallahi

Attack on Saudi oil facilities: consequences and solutions

TEHRAN – As expected, oil markets started Monday trading with an unprecedented jump in prices following the attacks on Saudi Arabia’s oil facilities which wiped nearly five percent of the global oil supply from the market.

'Oman, a good place for re-export of Iranian products'

TEHRAN- Oman is a good place for re-export of Iranian products especially during the sanction time, portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported quoting the head of Iran-Oman Joint Chamber of Commerce as saying.

OPEC+ considers possibility of U.S. easing Iran sanctions

TEHRAN – Organization of the Petroleum Exporting Countries and its allies (known as OPEX+), In its latest committee meeting on Thursday, discussed reports that the United States might ease sanctions imposed on Iran’s oil sale and what impact they might have on future of the global supplies.

Escalating U.S.-China trade war, a blessing in disguise for Iran’s oil industry?!

TEHRAN – The U.S.-China trade war, which has been going on for more than a year, entered a new phase last week as China not only imposed new tariffs on U.S. goods in retaliation against Trump's actions, but took the matter a step forward by putting "crude oil" on its tariff list.

Oil output could easily be restored to pre-sanction levels: Zanganeh

TEHRAN - Iran’s Oil Minister Bijan Namdar Zanganeh has denied the idea of U.S. sanctions’ long-term impact on the country’s oil production and exports capacity, saying output could be back to normal very quickly once the sanctions are removed.

By Payman Yazdani

Indonesia interested in exchanging information, defense equipment with Iran 

TEHRAN– Indonesian Ambassador Octavino Alimudin in an exclusive interview with Mehr News Agency said Indonesia is interested in exchanging information and defense equipment with Iran to fight terrorism.

SNSC chief says Iran should never have signed the JCPOA

Shamkhani: U.S. sanctions intended to make Iran surrender not to negotiate

TEHRAN - Ali Shamkhani, the secretary of Iran’s Supreme National Security Council, has said that the U.S. sanctions pressure against Iran are not for negotiation but intended to make Tehran surrender.

U.S. sanctions on Iran’s oil industry hurting India: envoy

TEHRAN - Indian Ambassador to the U.S. Harsh Vardhan Shringla said the U.S. decision on ending waivers for the purchase of Iranian oil is hurting India's economy, Sputnik reported.

Private sector propelling economy during sanctions: industry min.

TEHRAN- Private sector is the main factor for domestic economy to grow during the sanctions time, Iranian Industry, Mining and Trade Minister Reza Rahmani stated.

By Ebrahim Fallahi

Have Iranian oil exports really fallen to 100,000 bpd?

TEHRAN - Recently some reports have been published by ship tracking companies and industry sources regarding Iranian oil exports in July which have put the county’s shipments at near 100,000 barrels per day (bpd) in the mentioned month.

‘Iran’s economy strong enough to withstand U.S. sanctions’

TEHRAN – A member of Majlis Economic Committee said on Tuesday that the country’s economy has the capacity to pass through the unjust U.S. sanctions, IRIB reported.

Iranian oil irreplaceable, Zanganeh says

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said no country can replace Iranian oil in the global market, Mehr news agency reported on Sunday.

‘Italy still eager for trade with Iran’

TEHRAN - Chairman of Iran-Italy Joint Chamber of Commerce Ahmad Pourfallah has said that despite the U.S. sanctions Italian companies are still willing to engage in trade with Iran, IRNA reported on Sunday.

No worries over fuel supply, senior official says

TEHRAN – Iran doesn’t have any problems regarding production and supply of gasoline and gasoil despite the U.S. sanctions, Press TV reported, quoting an official with the oil ministry as saying on Wednesday.

‘NIGC moving toward complete self-sufficiency in face of sanctions’

TEHRAN - Saied Pakseresht, director of research and technology at National Iranian Gas Company (NIGC), said the company is nearly self-sufficient in supplying all its needs.

Renault regional sales drop drastically after exit from Iran

TEHRAN - French carmaker Renault sales in the Middle East and Africa region fell 27.7 percent largely as a result of Renault’s 2018 withdrawal from Iran under threat of U.S. sanctions, the company said in a statement on Tuesday.

S. Korea struggling to replace Iranian oil: report

TEHRAN - South Korea’s crude oil imports have fallen 12.6 percent in June to 11.49 million tons, an indication that the country is having problems replacing its oil imports from Iran.

By Ebrahim Fallahi

Iran’s ‘oil for execution’ plan: old ideas in a new wrapping

TEHRAN – This week Iranian Oil Ministry is going to officially start a new plan that is aimed to be a new way for selling oil and tackling the pressures imposed by U.S. sanctions on the country’s oil industry.