Iran exported $28.17 billion worth of goods and gas condensates in the past eight months to November 20, the head of Iran Trade Development Organization said on Saturday. Mojtaba Khosrowtaj told IRNA that the figure registers 5.7 percent increase compared to that for the same period last year. Khosrowtaj, also deputy minister of industry, mines…
Minister of Petroleum Bijan Zangeneh said on Thursday as of next year, 10 billion dollars will be added to Iran’s oil income. In a televised interview, Zangeneh outlined Iranian oil diplomacy achievements, which excluded Iran from OPEC output freeze plan. Iran’s output will be 3.797 million barrels per day per an agreement reached in the…
Head of Civil Aviation Organization has said four European countries have been commissioned to finance Iran’s possible plane purchases from world air industry giants. Ali Abedzadeh told Mehr News on Thursday that Germany would be the most probable candidate to finance through credits Iran’s prospective plane purchase agreements, with Italy, Ireland, and France possibly as…
Iran and the Netherlands have signed an MoU on expanding cooperation in the fields of agriculture, fisheries, management, livestock, dairy, sanitation and health. The memorandum of understanding was signed by Iran’s Minister of Agriculture Mahmoud Hojjati and Netherlands Minister of Economic Affairs Henk Kamp in Amsterdam on Friday. Hojjati heading a delegation of his deputies…
Lavan Oil Refining Company Date of Establishment: 1975 Production Date: 1976 Capacity:60,000 bpd Feedstock: Crude oil from Lavan, Condensate from South Pars Ownership: Private sector (under the supervision of NIORDC) Production Units Atmospheric Distillation, Vacuum Distillation, LPG Recovery, Naphtha Hydrotreater, Kerosene Hydrotreater, Gas OilHydrotreater, Catalytic Reforming (CRU),Isomerization and related utilities ISO Certificates ISO 9001 (2008),…
Germany has reportedly agreed to provide Iran with a €1.2 billion ($1.27 billion) credit line to help finance a key rail project in what is seen as the biggest foreign financing the country has been able to secure after the removal of sanctions. Bloomberg has quoted an unnamed official from the Central Bank of Iran…
Iran says imports of cars from the United States are authorized as long as they are produced by non-American brands. Farhad Ehteshamzadeh, the president of Automobile Importers Union of Iran, was quoted by the domestic media as saying that he had made an inquiry to the same effect from the Ministry of Industry, Mine, and…
The size of the Iranian logistics industry will exceed $45 billion by 2020. Revival of economic growth is expected as phasing out of restrictions improves investor confidence, leading to consistent growth of the logistics industry from 2017. “This industry is expected to benefit from investments related to the Iran’s Sixth Development Plan, which is likely…
An Indian Oil Corp unit plans to invest $5.5 billion to gradually raise the capacity of its smallest refinery co-owned by Iran to 300,000 barrels per day (bpd), its chairman said, to help meet a surge in demand for refined products in the world’s fastest growing major economy. The Nagapattinam plant operated by IOC’s subsidiary…
Iran produced 14.850 million tons of crude steel in the first ten months of 2016, with 9.6 percent rise from 13.555 million tons in the same period last year, the World Steel Association (WSA) reported. The country produced 1.64 million tons of crude steel in October 2016, with 10 percent increase from 1.324 million tons…
