Economy

Iran leads global oil output growth with 13% rise in 2024

TEHRAN – Iran recorded the highest increase in crude oil production among all countries in 2024, boosting its daily output by 374,000 barrels, while top producers like Saudi Arabia and Russia saw significant declines, according to the latest OPEC statistics.
CBI praised for ensuring economic security during 12-day conflict

TEHRAN – A senior member of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said the rapid allocation of foreign currency for essential imports played a vital role in maintaining economic security during the recent 12-day conflict, praising the Central Bank of Iran (CBI)’s performance in stabilizing markets and preventing panic.
Iran exports non-oil goods worth $937m to Turkey in a quarter

TEHRAN- Iran exported non-oil commodities valued at $937 million to Turkey during the first quarter of the current Iranian calendar year (March 21-June 21), according to the head of the Islamic Republic of Iran Customs Administration (IRICA).

Purchasing 15 new drilling rigs for oil, gas industry on agenda

TEHRAN- The managing director of the National Iranian Drilling Company (NIDC) said that purchasing 15 new drilling rigs for the oil and gas industry is on the agenda.
Iran exports non-oil goods worth $937m to Turkey in a quarter

TEHRAN- Iran exported non-oil commodities valued at $937 million to Turkey during the first quarter of the current Iranian calendar year (March 21-June 21), according to the head of the Islamic Republic of Iran Customs Administration (IRICA).
South Pars 8th refinery launches major overhaul

TEHRAN – The eighth refinery of the South Pars Gas Complex has begun a major overhaul, with more than 250,000 man-hours of work scheduled, according to the refinery’s director.
CBI praised for ensuring economic security during 12-day conflict

TEHRAN – A senior member of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said the rapid allocation of foreign currency for essential imports played a vital role in maintaining economic security during the recent 12-day conflict, praising the Central Bank of Iran (CBI)’s performance in stabilizing markets and preventing panic.
Iran leads global oil output growth with 13% rise in 2024

TEHRAN – Iran recorded the highest increase in crude oil production among all countries in 2024, boosting its daily output by 374,000 barrels, while top producers like Saudi Arabia and Russia saw significant declines, according to the latest OPEC statistics.
Spring auto output slows as production falls by 39,000 units

TEHRAN – Iran’s three largest automakers produced 192,725 passenger vehicles during the first quarter of the current Iranian year (March 21 to June 21), marking a decline of 39,290 units compared with the same period last year.
Iran urges easier admission of new members to BRICS Development Bank

TEHRAN – Iran’s Central Bank delegation at a BRICS finance summit in Brazil called for simplifying the admission process for new members to the New Development Bank (NDB), while emphasizing the bank’s role in financing infrastructure and sustainable development projects.
Iran exports non-oil products valued at $420m to Pakistan in a quarter

TEHRAN- Iran exported non-oil commodities valued at $420 million to Pakistan during the first quarter of the current Iranian calendar year (March 21-June 21), according to the head of the Islamic Republic of Iran Customs Administration (IRICA).
Iran warns energy producers must not be targeted, citing threat to global stability

TEHRAN – Iran’s Oil Minister Mohsen Paknejad warned that military aggression against energy-producing nations violates international law and threatens global stability, urging a commitment to peace and cooperation to ensure secure and sustainable energy supply.
Beijing hosts 106th general assembly of International Union of Railways

TEHRAN – The 106th General Assembly of the International Union of Railways (UIC) was held in Beijing, China, with the participation of Iran’s Deputy Minister of Transport and Urban Development and head of the Islamic Republic of Iran Railways (RAI).