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       24 June 2017 - Saturday - 29 Ramadan 1438 | 23/06/2017 (39) 22/06/2017 (29) 21/06/2017 (38) 20/06/2017 (37) 19/06/2017 (41) Total: 125,230 content        Facebook Twitter Youtube

Economy

21 June 2017 16:35

  Iran has blamed a recent rise in US oil production for the plunge in global prices of crude oil.  Iran’s Petroleum Minister Bijan Zanganeh told reporters on Wednesday that the US had increased its oil production by 900,000 barrels per day. This, he said, was way beyond what the Organization of the Petroleum Exporting Countries (OPEC) had estimated. Zanganeh said he was...

20 June 2017 12:25

  Total will go ahead with development of a giant Iranian gas field this summer, its CEO told Reuters, in the first major western energy investment in the country since Tehran signed an international nuclear deal. Chief Executive Patrick Pouyanne said the French group would make an initial $1 billion investment after the United States extended sanctions relief for Iran under the...

14 June 2017 15:55

  Iran says the first consignment of high-quality gasoline produced from its newly-launched Persian Gulf Start Refinery is ready for nationwide distribution.  Abbas Kazemi, the managing director of the National Iranian Oil Products Refining and Distribution Company (NIORDC), was quoted by media as saying that the consignment comprised 21 million liters of gasoline. He said it had been deposited at a key reservoir...

12 June 2017 17:23

  Iran says it has exported its first consignment of wheat after a hiatus of multiple years – what is seen as a robust sign that shows the country has not only been able to support domestic needs but also move ahead with overseas sales. The consignment of 35,000 tons of wheat was sent to Oman from Iran’s Bandar Imam Khomeini in...

11 June 2017 11:29

  Iran's Aseman Airlines signed the final contract with giant US aviation company, Boeing, on Saturday to purchase 60 passenger planes. Aseman finalized the contract to buy 60 Boeing 737 passenger planes in the presence of Iran's Labor Minister Ali Rabiyee and representatives of the US company in Tehran today. Based on the agreement, 5 to 10 of these passenger planes are due...

10 June 2017 12:01

  Iran’s hard-fought mission to recoup its oil market share in the West is almost complete after exports in May came within a whisker of pre-sanction levels.   Exports to Europe in the month surged to their highest level since the lifting of sanctions in early 2016 to 1.1 million barrels per day (bpd), Reuters news agency reported, citing sources familiar with...

6 June 2017 13:08

  Saudi Arabia has shepherded some of its regional allies in severing diplomatic ties with Qatar and blocking routes leading to the Persian Gulf littoral country. That has forced the Qatari government and populace to start taking precautions. The cutting of ties by Saudi Arabia came on Monday and was copied by the United Arab Emirates (UAE), Bahrain, Egypt, Libya, the Maldives,...

31 May 2017 14:58

  Reports say Iran has received over $4 billion from the United Arab Emirates (UAE) for purchases of gas condensate made before sanctions were imposed against Iran in 2011.  The payments have been made by Emirates National Oil Company (ENOC), reported Al Jazeera on its website. The report quoted an announcement by Iran’s Supreme Audit Court, which monitors the Ministry of Petroleum’s deposits...

31 May 2017 14:39

  Iran says it has signed a basic agreement with Russia’s energy giant Gazprom over the development of Farzad B gas field – a project which the country has for long been negotiating with an Indian consortium.     The announcement over Farzad B agreement was made by Iran’s Petroleum Minister Bijan Zanganeh. Zanganeh was quoted as saying in an interview with Argus energy...

29 May 2017 15:03

  Iran says it expects to sign an agreement with global energy giant Royal/Dutch Shell in the near future over a key petrochemical project. Rahim Sharif Mousavi, the managing director of Maroun Petrochemical Company, told the domestic media that talks with Royal/Dutch Shell was likely to end within the next few weeks. Sharif Mousavi emphasized that the agreement with the company involved providing...

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