S. Korean delegation to visit Iran for talks over resuming oil intakes

TEHRAN – As part of a delegation South Korean oil buyers are expected to head to Iran in the upcoming week to hold talks on resuming Iranian oil imports after a three-month halt, Reuters reported on Friday quoting sources with knowledge of the matter.

Production tax possible to be decreased to 20%

TEHRAN- Head of Iran's National Tax Administration (INTA) Seyed Kamel Taqavi-Nejad announced on Monday that in a bid to protect protection sector it is possible to decrease the levied tax on this sector from its present 25 percent to 20 percent, IRIB reported.

IFB monthly market review

TEHRAN- IFX, the main index of Iran's over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), fell 210.4 points in October, the first monthly loss over the past six months.

S. Korean companies eager to stay in Iran despite sanctions: envoy

TEHRAN – The South Korean ambassador to Tehran said on Monday that despite the U.S. reimposing sanctions on Iran, South Korean Companies are willing to stay in Iran and continue their activities, Tasnim news agency reported.

2nd round of oil sales at IRNEX on Nov. 11

TEHRAN- National Iranian Oil Company (NIOC) will offer 700,000 barrels of light crude oil at Iran Energy Exchange (IRENEX) for the second time on November 11, IRNA reported on Monday.

South Korea receives waiver on Iranian crude oil imports

TEHRAN - South Korea has received a waiver from the U.S. to continue importing Iranian crude oil, Bloomberg reported quoting a South Korean government official as saying on Monday.

India to hold meeting with Iran, Russia to implement International North South Transport Corridor

NEW DELHI - India has not only been engaged in tough negotiations to secure a waiver from U.S. sanctions for its oil imports from Iran but has also explored mechanisms to secure its interests in the strategic Chabahar Port should Washington decide not to exempt the project from the curbs.

Annual electricity exports anticipated to reach $33b by 2025

TEHRAN- Iran’s value of annual electricity exports is expected to reach $33 billion by the Iranian calendar year 1404 (March 2025-March 2026), deputy finance minister for planning and economic affairs announced.

Taiwan hopes for Iran oil sanction waiver

Taiwan was waiting to see whether it was one of the ‘eight jurisdictions’ expected to receive waivers to continue buy oil from Iran despite sanctions from the United States.

Joblessness at 12.2% in summer

TEHRAN- According to the latest report of the Statistical Center of Iran (SCI), unemployment rate in summer which corresponds to the second quarter of current Iranian calendar year (June 22-September 21, 2018) stood at 12.2 percent, increasing 0.7 percent in comparison with the same period in the preceding year.

By Mahnaz Abdi

Iran Air in negotiations with non-European airplane manufacturers

TEHRAN- Iran Air, Iran’s national flag carrier, has started negotiations with the non-European manufacturers of airplanes in line with renovation of its fleet, Farzaneh Sharafbafi, the managing director of the airline, announced on Sunday.

‘Sanctions to have no impact on sea transportation’

TEHRAN- Iran’s Ports and Maritime Organization (PMO) Head Mohammad Rastad announced that the unilateral and cruel sanctions posed by the U.S. against Iran will have no impact on the country’s sea transportation, IRIB quoted him as saying on Sunday.

By: Ebrahim Fallahi

Iran, Poland take strides towards better economic cooperation

TEHRAN – As two countries with huge potential for economic growth, Iran and Poland are taking new measures for developing non-oil economic cooperation with small and medium enterprises (SMEs) on focus.

Kish hosting 90 companies in CEBEX 2018

TEHRAN- Some 90 Iranian and foreign companies are showcasing their latest products and achievements in the 14th Civil Engineering and Building Exhibition (CEBEX 2018) held in Iran’s southern Kish Island, IRNA reported.

3 policies for amending domestic electricity consumption pattern

TEHRAN- Three policies of “modifying tariffs”, “issuing energy cards” and “changing consumption levels” are to be applied to amend electricity consumption pattern in the country, Iranian Energy Ministry’s spokesman announced in a press conference on Saturday, IRNA reported.

South Pars platforms annual overhaul finished

TEHRAN- Annual overhaul operation was finished in the platforms of South Pars gas field (Iran shares with Qatar in the Persian Gulf), according to a director in South Pars Oil and Gas Company (POGC).

Persian Gulf Star Refinery’s daily gasoline output to hit 40m liters in a month

TEHRAN- Daily production of Euro-5 quality gasoline in Iran’s Persian Gulf Star Refinery will reach 40 million liters by the next month, according to the managing director of the refinery.

Saffron exports rise 40% in H1

TEHRAN- Iran’s saffron exports increased 40 percent during the first half of the current Iranian calendar year (March 21-Septemebr 22) compared to the same period of time in the past year, according to the vice chairman of National Saffron Council.

WB puts Iran’s ease of doing business ranking at 128

TEHRAN- World Bank (WB), in a recent report titled Doing Business 2019 (Training for Reform), put Iran’s ease of doing business (EODB) ranking at 128 among 190 countries.

Hindustan Petroleum may buy Iranian oil if India secures sanctions waiver

State-run Indian refiner Hindustan Petroleum said it may resume buying Iranian oil if New Delhi secures a waiver from U.S. sanctions, its chairman M K Surana said on Thursday.

Trump administration poised to cave on Iran sanctions

The Trump administration is poised to offer a series of major concessions to Iran that will let it escape key economic sanctions that the administration once vowed would kick back into force in the next several days, according to multiple U.S. officials and administration insiders familiar with the state of play.

Tehran fairgrounds hosting 2 intl. exhibitions

TEHRAN - The 14th International Exhibition for Mines, Construction Machinery and Related Industry and Equipment (Iran ConMin 2018) and the 18th Iran International Electricity Exhibition (IEE 2018) kicked off on Friday at Tehran Permanent International Fairgrounds, IRIB reported.

Crude oil sale at IRNEX to go on

TEHRAN- National Iranian Oil Company’s (NIOC) Director for International Affairs Saeed Khoshroo announced on a Thursday televised interview that his company will continue offering crude oil at Iran Energy Exchange (IRENEX) as long as there is demand, IRIB reported.

As new sanctions coming

Trump’s Iran zero oil plan hits snag

TEHRAN – The OPEC and non-OPEC producers’ disability to make up the shortfall in oil supplies resulting from the loss of Iranian production under the U.S. sanctions, which has led to an increase in oil prices, is a sign of Trump administration’s failure in Iran’s zero oil exports plan.

Worth of trades in Fara Bourse up 107% in 7 months on year

TEHRAN- The value of trades in Iran's over-the-counter (OTC) market known also as Iran Fara Bourse (IFB) has grown 107 percent during the first seven months of the current Iranian calendar year (March 21-October 22), compared to the same period of time in the previous year.

Asia’s imports of Iranian oil in Sep. stand at 1.13m bpd

TEHRAN – Four major Asian buyers of Iranian crude imported a total of 1.13 million barrels per day (bpd) from Iran in September, the data released by Reuters showed.

Iran’s oil exports still high despite U.S. sanctions: report

TEHRAN – Iran has sold about 1.7 million to 1.9 million barrels per day (bpd) of crude oil and condensate in September according to estimates by investment banks, tanker-tracking firms and the International Energy Agency, which is an indication that U.S. is still a long way from achieving its stated goal of zeroing out Iranian oil sales.

Monthly copper cathode production rises 25% yr/yr

TEHRAN- Production of copper cathode in Iran rose 25 percent in the seventh Iranian calendar month of Mehr (September 22-October 22) in comparison with the same month of the past year, IRIB reported on Wednesday citing the data released by Iran’s Mines and Mining Industries Development and Renovation Organization (IMIDRO).

By Haniyeh Sadat Jafariyeh

IRENEX to overcome U.S. petroleum sanctions?

Last Sunday on October 28, just few days before new U.S. sanctions on petroleum sector take effect (November 4, 2018), National Iranian Oil Company (NIOC) could sell some 280,000 barrels of crude oil at $74.85 per barrel on the first day of offering crude oil for export at the international ring of Iran Energy Exchange (IRENEX). With the daily supply value of one million barrel per day, the market wrapped up by selling eight 35,000-barel-cargos of oil on the day.

India, Russia, Iran to meet on North-South Corridor on Nov. 23

India, Russia and Iran will hold a trilateral meeting on the International North South Transport Corridor (INSTC) on November 23 to make the 7,200-km-long ship, road, and rail route operational soon, an official statement said on Monday.