SAIPA, MAPNA ink MOU for mass production of Iran’s 1st electric car

TEHRAN – Iran’s MAPNA Group has signed a Memorandum of Understanding (MOU) with the country’s second-biggest auto-maker SAIPA Group for mass production of the country’s first electric vehicle, IRIB reported.

Iran’s steel exports up 25% in 10 months yr/yr

TEHRAN- Iran’s major steel producers exported 5.884 million tons of steel during the first ten months of the current Iranian calendar year (March 21, 2019-January 20, 2020), which was 25 percent higher than the figure of the same period of time in the past year, IRNA reported on Friday.

Iran’s biggest APG processing plant to go on stream soon

TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said the country’s biggest plant for collecting and processing of Associated Petroleum Gas (APG) is going to be launched early next calendar year which begins on March 20.

Iran, Zimbabwe discuss expansion of trade co-op

TEHRAN – Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) met with the Zimbabwean ambassador to Tehran Christopher Mapanga on Tuesday to discuss expansion of mutual trade relations.

Tehran hosting exhibition on Iran’s export potentials

TEHRAN - The Fourth Export Potentials Exhibition of Iran (IRAN EXPO) kicked off in Tehran’s Shahr-e-Aftab International Fairground on Tuesday.

Iran not relying on Swiss mechanism for supplying medicine, basic goods

TEHRAN – Central Bank of Iran (CBI) Governor Abdolnasser Hemmati has said Iran is not relying on the recently launched Swiss-based mechanism for supplying agricultural commodities and medicine.

Iran has capacity for $31b of exports to 3 neighbors: official

TEHRAN - The Chairman of Iran-Iraq Chamber of Commerce said on Tuesday Iran has the capacity to export $31 billion worth of products to the neighboring countries of Iraq, Afghanistan, and Pakistan.

Exports of dairy products to reach 1m tons by mid-March

TEHRAN – Iran is expected to export over 1 million tons of dairy products by the end of the current Iranian calendar year (March 20), according to the deputy agriculture minister.

23 major gas projects to be inaugurated during "Ten-Day Dawn"

TEHRAN – Managing Director of Iran Gas Engineering and Development Company (IGEDC) said 23 major gas supplying projects are going to go operational or begin during the Ten-Day Dawn (Feb. 1-11 which marks the 41st anniversary of the Islamic Revolution), IRIB reported.

By Mahnaz Abdi

FTA with EAEU, a turning point for Iran’s trade

After several years of negotiations, Iran and Eurasian Economic Union (EAEU) finally reached a free trade agreement (FTA) in 2018 based on which about 862 commodity items are subject to preferential tariffs.

9 airport projects to go operational during “Ten-Day Dawn”

TEHRAN – Nine major airport infrastructure projects will be inaugurated across Iran during the Ten-Day Dawn which marks the 41st anniversary of the Islamic Revolution, Mehr news agency reported, quoting an official with Iran Airport Company (IAC).

‘Transportation fleet in urgent need of modernization’

TEHRAN – Iranian transport and urban development minister said on Monday that the modernization of the country’s transportation fleet should continue in the form of a smart movement and bureaucratic processes should be minimized in this regard.

OPEC should take action to calm the stressed market: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that OPEC nations should try to balance the oil market which has tumbled as the worries over the impacts of the coronavirus continue to grow.

Steel ingots, products export up 46% in 9 months on year

TEHRAN- Iran’s export of steel ingots and steel products has increased 46 percent during the first nine months of the current Iranian calendar year (March 21-December 21, 2019), IRNA reported on Monday citing the data released by the Association of Iranian Steel Producers.

Iran’s industrial producer inflation turns negative

TEHRAN – Iran’s industrial producer inflation has dropped to -2.3 percent in autumn (September 23-December 21, 2019) for the first time in four years, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported.

Tehran hosting intl. building, property expo

TEHRAN – The first edition of Iran’s international exhibition of building and property (Iran Build and Property Show 2020) kicked off at Tehran Permanent International Fairgrounds on Sunday, IRNA reported.

China shipped in over 295,000 bpd of Iranian oil in 2019: customs

TEHRAN – China imported 295,400 barrels per day (bpd) of Iranian crude oil on average during 2019, despite U.S. pressure to wipe out oil exports from Iran to the country, IRNA reported, citing Chinese customs data. 

Iran to build over 30,000 housing units in Syria

TEHRAN – Iran’s Transport and Urban Development Ministry has signed an agreement with Syria’s Ministry of Public Works and Housing based on which Iranian companies are going to construct over 30,000 housing units in the neighboring country.

India doubles budget for Chabahar development project

TEHRAN – India has doubled the allocated funding for the development of Iran’s Chabahar port in its national budget bill for 2020, Times of India reported on Saturday.

By Ebrahim Fallahi

Coronavirus spreading pessimism across oil markets

Fears over the spread of the Coronavirus continue to overshadow the oil market as the number of people sickened by the virus has exceeded 10,000 globally and the death toll in China has passed over 200.

Nearly 800 industrial, transport projects to come on stream in 10 days

TEHRAN – Iranian government is planning to inaugurate numerous industrial, mining, and transport projects during the Ten-Day Dawn which marks the 41st anniversary of the Islamic Revolution, IRNA reported on Saturday.

Last platform of SP phase 14 installed

TEHRAN- Platform 14D, which is the fourth (and last) platform of phase 14 of South Pars gas field (in the Persian Gulf) development project, was installed on its designated offshore jacket on Saturday, IRNA reported.

Iran Build and Property Show 2020 to kick off on Sunday

TEHRAN- Tehran Permanent International Fairgrounds will host Iran Build and Property Show 2020 from Sunday until Wednesday.

Over $476m in loans allocated for supporting non-oil exporters

TEHRAN – Iranian banks are going to pay 20 trillion rials (about $476.2 million) of low-interest-rate facilities to the country’s exporting companies, IRNA reported, quoting the country’s industry, mining and trade minister.

‘Iran nearly self-sufficient in manufacturing water, wastewater equipment’

TEHRAN – Iran has achieved self-sufficiency in manufacturing all the equipment used in water and wastewater industries, except for the membranes used in wastewater treatment plants, Deputy Energy Minister for Water and Wastewater Affairs Ghasem Taqizadeh Khamesi told IRNA on Thursday.

Monthly loading, unloading of goods at Iranian ports up 29% yr/yr

TEHRAN – Loading and unloading of goods in Iranian ports witnessed a 28.7-percent rise in the Iranian calendar month of Dey (December 22, 2019-January 20, 2020), Tasnim news agency reported citing the data from Ports and Maritime Organization (PMO).

Iran to start offering 2 new oil products at IRENEX next week

TEHRAN – Two new oil products, namely Propylene and Normal Hexane, are going to be offered at Iran Energy Exchange (IRENEX) for the first time next week, IRNA reported on Monday, quoting the managing director of IRENEX.

South Pars condensate storage capacity hits 3.5m barrels

TEHRAN – Pars Oil and Gas Company (POGC) has increased the capacity of the South Pars gas field’s condensate storage facilities in southern Iran up to 3.5 million barrels, IRNA reported on Monday, quoting POGC’s projects manager for South Pars storage facilities.

‘NIOC seriously pursuing development of joint fields’

TEHRAN - Director of the integrated planning at the National Iranian Oil Company (NIOC) says the company is seriously following up on developing the West Karoun and South Pars joint fields and the contractors for the rest of the shared fields are also mostly determined.

TPO’s package for supporting non-oil exports approved

TEHRAN – Iran’s Resistance Economy Headquarters has approved a “Non-Oil Export Support Package” prepared by the Trade Promotion Organization (TPO) for the rest of the current Iranian calendar year (ends on March 19, 2020), the TPO portal reported on Sunday.