South Pars phase 11 to go on stream by Sept. 2021: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said the phase 11 of South Pars gas field’s development project will go on stream by the first half of the Iranian calendar year of 1400 (September 22, 2021).

Over 66m tons of goods loaded, unloaded at Iran’s ports since March

TEHRAN- Over 66 million tons of goods have been loaded and unloaded at ports of Iran since the beginning of current Iranian calendar year (March 21), IRIB reported quoting the head of Ports and Maritime Organization (PMO) as saying.

Project for indigenizing oil industry equipment progresses over 50%

TEHRAN – A project for indigenizing 10 major oil industry equipment items has witnessed over 50 percent progress, IRIB reported on Wednesday, quoting an official with National Iranian Oil Company (NIOC).

TEDPIX moving toward 300,000 points

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), has risen 9,752 points, or 3.36 percent, to 299,931 during the five working days of the past Iranian calendar week (Saturday to Wednesday), Tasnim news agency reported.

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.

Trade between Iran, U.S. at $49m in 7 months

TEHRAN – The value of trade between Iran and the U.S. stood at $49 million from January to July 2019, according to the latest report released by American Statistical Association (ASA).

Iran-EU trade stands at €2.5b in H1

TEHRAN- The trade between Iran and European Union countries during the first half of 2019 stood at €2.56 billion, Tasnim news agency reported citing the latest report of European Union’s statistics agency Eurostat.

Iran, Afghanistan to accelerate electricity co-op: Iranian energy min.

TEHRAN- Iran and Afghanistan have agreed to accelerate their cooperation in the electricity sector through setting up a joint taskforce, Iranian Energy Minister Reza Ardakanian told IRNA in an interview on Saturday.

By Mahnaz Abdi

Railway development highly dependent on private sector’s involvement

Expanded transportation via railway is today one of the major pillars of sustainable development for the countries; and it is why the governments usually allocate noticeable funds and resources to development of railway.

Exports from Iran to Turkey stands at $2.8b in 7 months

TEHRAN- The value of Iran’s export to its neighbor Turkey stood at $2.8 billion during the first seven months of 2019, ILNA reported citing a report released by Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA).

Russia, India to continue economic co-op with Iran: statement

TEHRAN - Russia and India said in a joint statement on Wednesday that they both will continue their trade and economic cooperation with Iran, Sputnik reported.

Russia considering investment in Iran’s oil industry: Novak

TEHRAN - Russian Energy Minister Alexander Novak says Moscow is mulling over investment in Iran's oil industry, which is currently the target of U.S. sanctions aimed at driving the country’s oil exports to zero.

Exports from small industrial units up 15% in 5 months on year

TEHRAN- The value of exports from Iranian small-sized industrial units has increase 15 percent during the first five months of the current Iranian calendar year (March 21-August 22) compared to the figure of the same period of time in the past year, IRNA reported, quoting Mohsen Salehinia, the deputy industry minister, as saying on Wednesday.

Over 62,000 tons of LPG sold at IRENEX to foreign buyers

TEHRAN – Some 71,000 tons of liquefied petroleum gas (LPG) was offered at the international ring of Iran Energy Exchange (IRENEX) on Monday of which over 62,000 tons was sold to foreign buyers, IRNA reported.

Iran’s LNG exports to Afghanistan quadruples in 5 months

TEHRAN - Export of Liquefied Natural Gas (LNG) from Iran’s Doqaroun border to Afghanistan has increased by 200 percent in the first five months of the current Iranian calendar year (March 21-August 22), Fars New Agency reported, quoting Doqaroun Customs Director General Mohammad Kouhgard as saying on Tuesday.

Domestic companies to renovate 124 passenger wagons

TEHRAN – As the passenger wing of the Islamic Republic of Iran Railways (RAI), Iranian Raja Railway Transport Company has signed deals with three domestic companies for renovating 124 passenger wagons, ILNA reported on Tuesday.

Iran, Turkey form preferential trade agreement committee

TEHRAN – Senior officials from Iran and Turkey’s economic sectors met on Tuesday as a committee to follow up on the preferential trade agreement reached between the two countries.

‘Iranian petchem companies eager for using domestic catalysts’

TEHRAN - Managing Director of Iran’s Petrochemical Research and Technology Company (PRTC) said the country’s petrochemical complexes are keen on utilizing domestic catalysts in their operations, IRIB reported on Monday.

Philippines eyes barter trade with Iran

TEHRAN - Philippines Ambassador to Tehran Wilfredo Santos said his country is ready for bartering trade with Iran, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported.

Iran, Russia stress implementation of joint projects

TEHRAN - Iranian Energy Minister Reza Ardakanian and his Russian counterpart Alexander Novak stressed accelerating the implementation of the two countries’ joint projects in a meeting in Moscow on Monday.

By Mahnaz Abdi

Iran-Armenia economic ties not affected by U.S. sanctions

While the U.S. renewed sanctions on Iran are aimed at isolating the Islamic Republic both politically and economically, Iran’s relations, especially in the economic sectors, with its neighbors are seemed not to be affected by the sanctions.

Iran’s 5-month non-oil exports at $17.8b

TEHRAN- Iran exported $17.8 billion of non-oil commodities during the first five months of the current Iranian calendar year (March 21-August 22), IRIB reported on Monday.

Tehran, Damascus ink MOU on banking cooperation

TEHRAN – Central banks of Iran and Syria signed a memorandum of Understanding (MOU) on Monday for expansion of banking cooperation between the two countries, IRIB reported.

Iranian banks’ foreign assets up 13%

TEHRAN - The total value of Iranian banks’ foreign assets by June 21 stood at 9.245 quadrillion rials (about $220.11 billion), registering a 13-percent rise compared with the corresponding period of last year.

Mining projects worth over $660m ready to come on stream: IMIDRO

TEHRAN- Seven projects worth more than $660 million are ready to be inaugurated in Iran’s mining sector across the country, IRIB reported on Sunday, quoting head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) as saying.

IRENEX to hold 8th round of heavy crude oil offering

TEHRAN - National Iranian Oil Company (NIOC) will offer two million barrels of heavy crude oil at Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.

By Mahnaz Abdi

Investment funds laying ground to attract more investors

Investment funds have gained high popularity among the investors over the past two decades.

Iran’s external debt drops 7%

TEHRAN - Iran’s debts to foreign lenders in the end of the third Iranian month of Khordad (June 21, 2019) stood at $8.678 billion, showing seven percent decrease compared to the announced figure at the end of the past Iranian calendar year (March 20, 2019), IRIB reported on Sunday.

Regulations on implementation of oil projects approved

TEHRAN – The issue of implementing Iran's oil projects by domestic contractors was discussed in the 38th session of the country's Supreme Council of Economic Coordination on Saturday and rules and regulations pertain to the subject were approved by the council.

By Mahnaz Abdi

IFB base market’s amended regulations for more transparency, efficiency

TEHRAN- The amendments made in the regulations of the base market of Iran's over-the-counter (OTC) exchange market, known as Iran Fara Bourse (IFB), are aimed to boost transparency and also efficiency in this market, IFB Managing Director Amir Hamooni said in a press conference on Saturday.