The girls in national ice hockey are preparing for the Asian Cup, which will be held in May 1401 in the Philippines.

Names of athletes:
Azam Sadat Sanaei, Elham Director Dehghan, Fatemeh Ismaili, Negar Khoram, Helia Sohani, Asal Heidari, Maral Rasekh, Negar Arjmand, Azin Qaruni, Diana Farzamnia, Saba Mazaheri, Faezeh Modbar, Marzieh Sadat Seyed Ghandi, Fatemeh Shahsvand, Fatemeh Shahsvand Pourhashemi, Zahra Rezaei, Diba Farzamnia, Zohreh Hassani, Shabnam Arab, Sougal Javadian, Sara Sattarian, Matin Sayad, Samaneh Nazeri, Zahra Ghasemi, Mahdieh Norouzi, Arezoo Izadi, Mahshid Mohammadi, Darsa Rahmani, Zahra Sheikhzadeh

Iranian women’s national online hockey team

The national women’s online hockey team was sent to the Asian Games in China for the first time in 2012 and won the third place.
After that, in 2014, they were sent to the Asian Championships in China for the second time, and they were able to return to the country by winning the fourth place in Asia. In 2016, for the first time, this team was sent to the Inline Hockey World Cup in Italy and won the 19th place.
In their last appearance in 2018, the South Korean Asian Championships were able to win the third place in Asia.

Iranmall Sports Complex

Iranmall Sports Complex has been created with the aim of creating physical and mental comfort, focusing on mental relaxation, developing motor skills and proper training of sports exercises, in a different environment and using the latest technology in the world. This collection includes various facilities for performing various sports and games, spending leisure time, enjoying spectacular games for the young generation and Iranian families, and holding domestic, regional and international sports events. In this regard, and to create a dynamic, safe and family environment for sports affairs, the founders of the Grand Bazaar of Iran have provided unique spaces in this complex, which is explained in the section on mobile sports sub-categories.

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Celebrating Women’s History Month (March 1-31), IMDb published a video on Twitter to take a look back at “cinematic history in salute of the pioneering women directors and their groundbreaking work,” the online entertainment database tweeted along the video that featured scenes of Bani-Etemad’s 2014 drama, Tales (Ghesseh-ha).

Born in Tehran in 1954, Bani-Etemad – who holds a Bachelor of Arts degree in film studies from the Dramatic Arts University in Tehran – is widely considered as the most important female director in Iran, titled ‘First Lady of Iranian Cinema’.

Her movies and documentaries picture social and cultural issues and complications in modern-day Iran.

The Tales – which adopts an episodic narrative – portrays the fates of seven characters of Bani-Etemad’s previous flicks.

The film won the award for Best Screenplay (written by Bani-Etemad and Farid Mostafavi) at the 71st Venice International Film Festival.

It also brought Bani-Etemad the Golden Royal Bengal Tiger Award – dedicated to best film – at Kolkata International Film Festival in 2014, as well as the Special Jury Prize at Asia Pacific Screen Awards (Australia) in the same year.

Also featured in IMDb’s short video were the likes of Sofia Coppola, Jodie Foster, Meryl Streep, Chinese-American film director Lulu Wang, Sarah Polley, and Barbra Streisand.

Rakhshan Banietemad

Rakhshan Banietemad, born in 1954 Tehran, began to make documentaries for the Iranian National Television in 1979, right after graduating from the University of Dramatic Arts, Tehran. From 1979 to 1987 she focused on making only documentaries. In 1987, she directed her first feature film Off the Limits. In 1991, she became the first woman recipient of the Best Director award for Nargess at Fajr International Film Festival in Iran. In 1995, she won the Bronze Leopard for The Blue Veiled at the Locarno Film Festival. Under the Skin of the City, her next film, was the highest grossing film in Iran in 2000. This film along with Gilaneh (2005) and Mainline (2006), garnered major awards in more than 50 film festivals.

While Banietemad’s feature films have been acclaimed and honored worldwide, her documentaries have also been successful and popular internationally. Our Times …, was the first documentary ever to be released in the movie theatres in Iran in 2002. It was also screened in highly prestigious and prominent festivals and TV channels such as IDFA, Sundance Film Festival and ARTE.

Banietemad started her work by making documentaries and has never ended the strong connection she has always had with her works. Making documentaries have been her main way of connecting with the society and social issues. Her approach and in depicting social issues has been so strong and effective that her works have always resulted in causing change in the lives of her documentaries’ characters.

In 2008, she received an honorary doctorate from University of London, in 2010, she was awarded the Prix Henri Langlois from Vincennes International Film Festival. Her latest feature film, Tales, was awarded the Best Screenplay prize in the main competition section of 2014 Venice International Film Festival.

More recently, she has joined the Academy Oscar, Writers branch in 2017.

Feature Films

• Tales (Ghesseh ha), 2014
• Heiran (producer), Director: Shalizeh Arefpour, 2009
• Mainline (Khun bazi), 2006
• Gilaneh, 2005
• Under the Skin of the City (Zir-e pust-e shahr), 2000
• Baran and the Native (Baran va bumi), part of feature-film Kish, 1998
• The May Lady (Banu-ye ordibehesht), 1997
• The Blue Veiled (Rusari abi), 1994
• Nargess, 1991
• Foreign Currency (Poul-e khareji), 1989
• Canary Yellow (Zard-e qanari), 1988
• Off the Limits (Kharej az mahdudeh), 1987

DOCUMENTARIES

• Touran Khanom, Co director, 2018
• Karestan Documentary films as follows (Artistic consultant), 2013 -17  Film 1. Poets of Life
   Film 2. Puzzleys
   Film 3. Mother of the Earth
   Film 4. MAHAK: A World She Founded
   Film 5. Friends at Work
   Film 6. Flax to Fire
• Hey, Humans (Ay, Adamha), 2016
• A Lifetime in an Hour (Yek saat az yek omr), 2015
• All My Trees (Hameh derakhtan-e man), 2015
• The Other Side of Mirrors (An sooy-e ayeneh ha), 2014
• The Mirrors Recital (Concert-e ayeneh ha), 2014
• The Concert of the Lords of Secrets (concert-e khodavandan-e asrar), 2014
• Mahak My Home (Khaneh man Mahak), a teamwork, 2014
• Keep Children in School (Bacheh ha ra dar madreseh negahdarim), a teamwork, 2012
• The Room No. 202 (Otahgh-e 202) Part of “Kahrizak 4 Views”, 2012
• See you Tomorrow Elina (Farda mibinamet Elina), 2010
• We Are Half of Iran’s Population (Ma nimi az jameiat-e Iranim), 2009
• Angels of the House of Sun (Hayat khalvate khaneh khorshid), 2009
• Second Home (producer), Director: Mahvash Sheikholeslami, 2008
• 3D Carpet (Farsh-e 3 Bodi), Part of “Iranian Carpet”, 2007
• Our Times… (Ruzegar-e ma…), 2002
• Under the Skin of the City (Zir-e pust-e shahr), 1996
• The Last Visit with Iran Daftari (Akharin didar ba Iran Daftari), 1995
• To Whom Do You Show These Films? (In filmha ra beh ki neshun midin?), 1993
• Spring to Spring (Bahar ta bahar), 1993
• The 1992 Report (Gozaresh-e 71), 1993
• Centralization (Tamarkoz), 1986
• The War Economic Planning (Tadbirha-ye eqtesadi-e jang), 1981
• Occupation of Migrant Peasants in the City (Mohajerin-e roustai dar shahr),1980
• The Culture of Consumption (Farhang-e masrafi), 1979

Awards

• Diploma of Honor of Child Book Council’s, Tehran, Iran, March 2018
• Diploma of Honor of ‘Children’s Research Institute, Tehran, Iran, December 2018
• Special Cinema Section Award, 2nd  Davood Rashidi Commemorative Award, Tehran, Iran, August  2018
• Honorary Award, 7th Int’l Malatya FF (Turkey) 2017
• Honorary Golden Cyclo, 23th Vesoul Film Festival (France), 2017
• Ethics and Prayer Award for social and civilian activities (Iran), 2016
• Cinema Honorary Award, 4th Int’l Women FF (Afghanistan), 2016
• Cinema Honorary Award, 6th Int’l Crime & Punishment FF (Turkey), 2016
• Best Film, Tales, Prague Iranian FF (Chezk), 2016
• Audience Award, Tales, Gene Siskel Film Center (USA), 2015
• Best Film, Tales, London Iranian FF (UK), 2015
• Special Jury Prize, Tales, Asia Pacific Screen Awards (Australia), 2014
• Best Film, Tales, Golden Royal Bengal Tiger Award, Kolkata Int’l FF (India), 2014
• Best Screenplay prize, Tales, Venice Int’l FF (Italy), 2014
• Special Jury Prize, Kahrizak 4 views, Dubai Int’l FF (UAE), 2012
• Prix Henri Langlois, Vincennes Int’l FF (France), 2010
• Special Jury Prize, We Are Half of Iran’s Population, (WIFTS) (USA), 2009
• Special Jury Prize & Best Actress, Mainline, Dhaka Int’l FF (Pakistan), 2009
• Best Screenplay & Best Actress, Mainline, Pyongyang Int’l FF (North Korea), 2008
• Grand Jury Prize, Mainline. Int’l Women’s Film Festival (Creteil, France), 2008
• Achievement in Directing, Mainline, Asia Pacific Screen Awards (Australia), 2007
• Best Director & Best Actress, Mainline, Iran Cinema House Awards (Iran), 2007
• Best Director & Best Actress, Mainline, Fajr Int’l FF (Iran), 2007
• Best Film, Mainline, City Int’l FF (Iran), 2006
• Best Film, Mainline, Asiatica Film Mediale (Italy), 2006
• Special Jury Prize, Gilaneh, Las Palmas de Gran Canaria Int’l FF (Spain), 2006
• Netpac Award, Gilaneh, Vesoul Asian Film Festival (France), 2006
• Golden Lotus Award, Iranian Women Film Directors (Iran), 2006
• Best Film & Best Actress, Gilaneh, Kara Int’l FF (Pakistan), 2005
• Artistic & Cultural Achievement Award, Kara Int’l FF (Pakistan), 2004
• Special Jury Award, Under the Skin of the City, Seattle Int’l FF (USA), 2002
• Netpac Award, Our Times…, Locarno Int’l FF (Swiss), 2002
• Netpac Award, Under the Skin of the City, Karlovy Vary Int’l FF (Chezk), 2001
• Holden Award for Best Script, Audience Award, & Cinemavvenire Award for Best Feature Film, Under the Skin of the City, Turin Int’l FF (Italy), 2001
• Special Jury Prize, Under the Skin of the City, Moscow Int’l FF (Russia), 2000
• Special Jury Award, The May Lady, Fajr Int’l FF (Iran), 1998
• Honorable Mention, FIPRESCI Award, The May Lady, Montreal Int’l FF (Canada), 1998
• Prince Claus Prize for Culture and Development (The Netherlands), 1998
• “Il Sindaco di Firenze” Peace and Freedom Award (Italy), 1998
• Best Asian Woman Director, The Blue Veiled, India Int’l FF (India), 1996
• FIPRESCI Award, The Blue Veiled, Tessaloniki Int’l FF (Greece), 1996
• Bronze Leopard, The Blue Veiled, Locarno Int’l FF (Swiss) 1995
• Best Script & Best Supporting Actress, The Blue Veiled, Fajr Int’l FF (Iran), 1994
• Best Director & Best Musical Score, Nargess, Fajr Int’l FF (Iran), 1991
• Best Supporting Actor, Canary Yellow, Fajr Int’l FF (Iran), 1988
• Best Film, Off the Limits, Comedy Int’l FF (Italy), 1987

PROFESSIONAL DISTINCTIONS

• Jury Member, Dhaka Int’l FF Bangladesh), 2020
• President of the jury, Herat Film Festival (Afghanistan), 2019
• Jury Member, Mumbai Int’l FF (India), 2018
• Jury Member, Venice Int’l FF (Italy), 2017
• Academy Oscars Member, Writers Branch, 2017
• President of the jury, Vesoul Film Festival (France), 2017
• President of the jury, Prague Iranian Film Festival (Czech), 2017
• President of the jury, Image Film Festival (Iran), 2016
• President of the jury, Cinema Verite Int’l FF (Iran), 2013
• President of the jury, Busan Int’l FF (South Korea), 2013
• Master Class, California Institute of the Arts (USA), 2013
• Jury Member, Shanghai Int’l FF (China), 2012
• Jury Member, Dubai Int’l FF (UAE), 2010
• Jury Member, Asiatic Film Mediale Festival (Italy), 2010
• Master Class, Walker Art Center, Minneapolis (USA), 2010
• Jury Member, Fribourg Int’l FF (Switzerland), 2010
• Jury Member, Urban Int’l FF (Iran), 2009
• Producer, Heiran, feature-film (Iran), 2009
• Producer, Second House, documentary (Iran), 2008
• Honorary Doctorate, University of London (Iran), 2008
• Master Class, School of Oriental and African Studies, SOAS (England), 2008
• Master Class, Geneva University of Art & Design (ESBA), 2008
• Jury Member, Cinema Verite Int’l FF (Iran), 2007
• Jury Member, Women’s Film Festival (Iran), 2006
• Jury Member, Asian Cinema, Fajr Int’l FF (Iran), 2006
• Jury Member, Art University Student Festival (Iran), 2005
• Director, Sony Young Directors Film Festival (Iran), 2003
• Jury Member, Asia Pacific Film Festival (Iran), 2003
• Jury Member, Sony Young Directors Film Festival (Iran), 2002
• Jury Member, Moscow Int’l FF (Russia), 2002
• Jury Member, Cairo Int’l FF (Egypt), 2002
• Jury Member, Fajr Int’l FF (Iran), 2001
• Jury Member, Montreal Int’l FF (Canada), 2001
• Jury Member, Youth Film Festival (Iran), 2001
• Jury Member, Student Film Festival (Iran), 1999
• Jury Member, Leipzig Int’l FF (Germany), 1999
• Jury Member, Tokyo Environmental Int’l FF, (Japan), 1998
• Jury Member, New Delhi Int’l FF (India), 1998
• Jury Member, Student Film Festival (Iran), 1997
• Jury Member, Locarno Int’l FF (Swiss), 1996
• Jury Member, Turin Int’l FF (Italy), 1995
• Jury Member, Center for Iranian Film Directors (Iran), 1993
• Jury Member, Roshd Film Festival (Iran), 1992
• Jury Member, Fajr Int’l FF (Iran), 1990

KÂRÂ FILM STUDIO

KARA Film Studio is a name under which a group of professional Iranian filmmakers express their common concerns regarding humanistic, social and cultural issues through documentary films, while maintaining their own diverse and distinct vision. In KARA Film Studio, filmmakers in small or large numbers, gather together and, starting with an outline of a documentary project, complete the work in a professional manner.

KARA Film Studio operates under a number of principles: personal financing or financing through private sector; working as teams and in a workshop from development of an idea through to its completion and distribution; giving young and talented documentary filmmakers an opportunity to work with professionals and assistance with their development, due respect for the audience by maintaining high standards in the production phase, endeavor to provide improved and increased means of screening films inside and outside Iran; …
Rakhshan Banietemad and Mojtaba Mirtahmasb are the constant participants in this group.

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“#Covid19 ravages the world, sparing no nation,” Zarif wrote in his Twitter account.

“Even the world’s largest economy needs others to help it fight the pandemic, yet refuses to halt its #EconomicTerrorism against Iran,” he added.

“Does the US want a “forever pandemic”?”

“Moral imperative to stop observing the bully’s sanctions,” Zarif reiterated.

Zarif made the remarks in reaction to President Trump telephone conversation with South Korean President Moon Jae-in on Tuesday to ask if South Korea could send medical equipment to the U.S. to help combat the coronavirus.

Iranian Non-Governmental Organizations in a letter to the United Nations Secretary General António Guterres demanded the removal of the US anti-Iran sanctions.

In the letter, the organizations some of whom hold UN consultative status warned the world that the lives of Iranians has put in danger because of the US santions admid the outbreak of the deadly COVID-19.

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The record was gained amid US President Donald Trump’s threats to pull out of the deal that was struck between Tehran and the P5+1 group of countries to curb parts of Iran’s nuclear activities in exchange for eased sanctions on the OPEC member’s vital economic sectors.

The National Iranian Oil Company (NIOC) exported an average of 2.877 million barrels per day of crude oil and gas condensate during the month to Asian and European markets which was an unprecedented figure since implementation of the JCPOA.

Iran’s traditional oil customers, China, India, South Korea and Japan, bought over 60% of its petroleum cargoes during the month.

China and India alone imported roughly 1.4 mbd from Iran during the month.

The post Iran oil exports hit new record in April 2018 appeared first on IRAN This Way.

China and India are the largest buyers of Iranian crude, with more than one million barrels in total.

The figure is expected to reach nearly 1.3 million barrels per day in April, while China and India will maintain their position as the first and second largest oil importers of Iranian crude.

Dutch-British Shell, France Total, Italian ENI and Saras Companies, Greek Hellenic Petroleum and Spain Repsol and Hungary MOL are among Iranian oil customers in Europe.

According to the Oil Ministry’s report, Iran has also exported 400,000 barrels per day of condensates during the March with South Korea was the biggest customer with purchasing half of the amount.

South Korea has requested for more gas condensate from Iran, however, due to increased domestic consumption and its allocation to Persian Gulf Star Oil Co., there is no possibility of realizing South Korea’s demands for it. South Korea now receives about 200,000 barrels of gas condensate per day from Iran.

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Farhad Nazari, head of the Registration Department at Iran Cultural Heritage, Handcraft and Tourism Organization, said on Thursday that the pair has already been shortlisted as Iran’s intangible cultural heritages, and they will be documented under the 2003 Convention and during the 12th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage, which will take place from December 4 to December 8 in the South Korean capital of Seoul.

Polo was invented and first played in Iran (or ancient Persia) thousands of years ago. The original name of polo is “Chogan” and in Iran the game is still referred to as “Chogan”. The first recorded game reportedly took place in 600 BC in ancient Persia.

The objective is to score goals against an opposing team. Players score by driving a small hard white ball into the opposing team’s goal using a long-handled wooden mallet.

The modern sport of polo is played on a grass field of 270 by 150 meters (300 by 160 yards). Each polo team consists of four riders and their polo ponies.

Arena polo has three players per team, and the game usually involves more maneuvering and shorter plays at lower speeds due to space limitations of arenas. Arena polo is played with a small air-filled ball, similar to a small football.

little bow

Iranian bowed string instrument of Kamancheh

Kamancheh, which means “little bow” in Persian, is used also in Armenian, Azerbaijani, Turkish, and Kurdish music. The strings are played with a variable-tension bow.

Well-known Iranian kamancheh players are Ali Asghar Bahari, Ardeshir Kamkar and Kayhan Kalhor.

The Turkish kemençe is a bowed string instrument with a very similar or identical name, but it differs significantly in structure and sound from the Persian kamancheh.

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Iran prefers to export liquefied natural gas (LNG) to distant markets including the EU, but no agreement has yet been reached on the construction of plants for the purpose, reported Trend News Agency.

The country’s sole LNG project, the 52-percent completed ‘Iran LNG’ needs an investment of about $8-10 billion and talks with foreign investors haven’t yielded any results so far.

Last year, Managing Director of National Iranian Oil Company Ali Kardor said that Iran is targeting exports of 0.5-2 million metric tons per year (MT/y) of LNG using mini-LNG plants and floating LNG vessels (FLNG) — Iran’s alternative projects to export LNG.

The country has signed memorandum of understandings (MoU) with South Korean Kogas on the development of LNG projects as well as with National Energy Administration of China on developing mini-LNG projects.

However, talks on purchasing or manufacturing floating liquefied natural gas (FLNG) vessels in recent months have so far yielded no results.

Now, Kardor says that Iran’s first deal on the construction of a FLNG facility will soon be signed with a Norwegian company.

The 20-year deal is intended to produce 500,000 tons of LNG, Kardor said on October 10, adding that pricing formula of the products will be determined by the Oil Ministry.

He did not disclose the name of the Norwegian firm, but last year it was announced that Tehran is negotiating with Norwegian Golar and Hemla Vantage companies.

Golar owns one of the largest FLNG fleets in the world, while Hemla Vantage was keen to lease a FLNG vessel from a Belgian company, Exmar, to collect and liquefy flaring gas in offshore fields around Kharg Island in the Persian Gulf (the amount of yearly collection and liquidation of flaring gas in Kharg Island can stand at 0.5 MT).

Launching FLNG and mini-LNG facilities will help Iran diversify and expand its natural gas market.

The projects will also grant the country chance to convert its flaring gas (mostly from burning associated gas in the oil sector), which currently amounted at about 11 billion cubic meters per year (bcm/y), into LNG.

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The contracts were signed in the Austrian capital of Vienna by an Iranian banking delegation which included representatives of 14 domestic banks headed by Mohammad Khazaei, the president of the Organization for Investment Economic and Technical Assistance of Iran. Deputy Head of the Central Bank of Iran (CBI) for Foreign Exchange Affairs Ahmad Araqchi was also a member of the delegation.

The first major finance deal worth €1 billion was signed on Thursday between Austria’s Oberbank and a dozen Iranian banks. The Austrian bank thus became one of the first European financial institutions to break the ice in providing loans for Iranian projects following the removal of Western sanctions in early 2016.

Oberbank, Austria’s seventh-biggest bank, with a balance sheet of roughly €20 billion ($24 billion), signed the deal with 14 Iranian banks at its headquarters in Linz.

President of the Organization for Investment, Economic and Technical Assistance of Iran Mohammad Khazaei (2nd L) and Oberbank’s Chief Executive Franz Gasselsberger (2nd R) attend a press conference following the signing of a major finance deal between 14 Iranian banks and the Austrian bank in Vienna on September 21, 2017.

The move was groundbreaking particularly given that many banks — mainly those from Europe — are still standing away from Iran’s funding prospects over fears that they may fall afoul of remaining US sanctions against the Islamic Republic.

Officials in Tehran are hoping that this would set the stage for similar moves by other European banks in the near future.

The Iranian signatories included veteran private banks such as Parsian Bank, Saman Bank, Eqtesad Novin Bank, Bank Parargad, Karafarin Bank and the newly established Middle East Bank. Others were former state banks that were privatized over the past few years such as Bank Melli Iran, Bank Mellat, Bank Sepah, Tejarat Bank, Bank of Industry and Mine, Export Development Bank of Iran, Refah Bank and Keshavarzi Bank.

The agreement which envisages a funding ceiling of €1 billion covers projects by Austrian companies in Iran’s production and development projects lasting more than two years.

Speaking on the sidelines of the signing ceremony, Oberbank’s Chief Executive Franz Gasselsberger said, “Today was a great day in the two countries’ relations as this was the first finance deal between a European bank and the Islamic Republic of Iran. Although the negotiations on the deal took long for several months, the outcome was quite favorable and satisfying for both sides.”

He added the contract will prepare the ground for Austrian companies and industries in different sectors, particularly health and infrastructure, to invest in Iranian projects and export products and modern technologies to the Middle Eastern state.

“In case on some day in the future, we look back at this day, we will realize that this contract has served as a turning point for the two sides to deepen their relations.”

Gasselsberger said Iran’s economy, in addition to those in Austria and other European countries, is extremely attractive for the entire world as the Middle Eastern state has a hardworking and smart young generation that can create great opportunities for their own country and other nations.

“There must be a win-win situation for Iran and international companies. Nevertheless, we should not forget about political aspects.”

Earlier in September, Gasselsberger told Reuters that the agreement covered projects by Austrian companies in areas that were previously under sanctions.

“We have very concrete projects in the fields of infrastructure, rail, health, hospital construction, factory building, photovoltaics, hydro power,” he had stressed.

Export credit guarantees covering 99 percent of a project’s volume will be provided by the Oesterreichische Kontrollbank, the main Austrian body that issues them, Reuters added.

“The sticking point was obtaining an additional guarantee from the Iran,” Gasselsberger said. “We negotiated with the Iranian central bank but the guarantee is evidently coming from the Iranian Finance Ministry.”

President of the Organization for Investment, Economic and Technical Assistance of Iran Mohammad Khazaei (C) at the signing ceremony of a finance deal worth €500 million with representatives (R) of Denmark’s Danske Bank in Vienna on September 21, 2017.

Deal with Denmark’s Danske

The other finance contract, very similar to the one with the Austrian bank, was also signed on Thursday, between the Iranian team and Denmark’s Danske Bank.

The deal is worth €500 million and sees 10 Iranian banks on the receiving end. Following the contract the Danish bank became the second European lender to ink such an agreement with Iran.

The Iranian signatories to the agreement were Saman Bank, Bank Mellat, Tejarat Bank, Bank Melli Iran, Bank of Industry and Mine, Bank Sepah, Bank Pasargad, Eqtesad Novin Bank, Keshavarzi Bank, and Parsian Bank.

They will act as the agent banks, providing civil projects in Iran with the Danish fund, according to an announcement by the website of the Central Bank of Iran.

Danske Bank, founded in 1871 and headquartered in Copenhagen, is the largest bank in Denmark and a major retail bank in the northern European region with over five million retail customers. It was number 454 on the Fortune Global 500 list for 2011.

MoU on infrastructural projects

In addition, the Iranian delegation also signed an MoU late on Thursday with the EKF Bank of Denmark to finance infrastructural projects in Iran.

The memo will make it possible to finance Iranian projects in various sectors later.

The deals with Oberbank and Danske came on the heels of a similar move between China’s CITIC Group and a consortium of Iranian banks to provide loans worth a collective of $10 billion for the country’s infrastructure projects.

Iran had also in late August secured an €8-billion credit line from South Korea’s Eximbank — what was seen as the country’s biggest loan deal since the removal of sanctions against it in early 2016.

Accordingly, officials in Seoul said the deal would finance projects in Iran by companies from South Korea.

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South Korean National Assembly Speaker Chung Sye-kyun, who is in Tehran to attend President Hassan Rouhani’s swearing-in, oversaw the signing between SKEC, Tabriz Oil Refining Company and National Iranian Oil Engineering and Construction Company (NIOEC).

“The purpose of the signing of the agreement, which is about to be signed into a contract in the near future, is to convert the furnace oil produced at the Tabriz refinery to products of higher value according to Euro 5 standard,” the report said.

Export-Import Bank of Korea will finance the project which includes upgrades to desulfurization equipment as well as gasoline, diesel and other facilities, it added.

The project will be carried out over a period of 48 months, bringing down the furnace oil capacity at the refinery to 2.0% from 20% now. Furnace oil is also known as fuel oil.

The Tabriz oil processing plant, built in 1976, is among the Iranian refineries in dire need of upgrade and modernization. In February, the country signed a $3 billion contract with China to upgrade the Abadan refinery in southwest Iran.

Tabriz operates with a capacity of 110,000 barrels per day, turning crude oil to liquefied petroleum gas (LPG), gasoline and diesel fuel.

According to Managing Director of National Iranian Oil Refining and Distribution Company Abbas Kazemi, Iran needs $14 billion of investment in total to fix and upgrade Tehran, Bandar Abbas, Isfahan, Tabriz and Abadan refineries.

Iranian refineries, he said in February, were operating at a capacity of 500,000 barrels per day, which would rise to 600,000 bpd in the current Persian year.

Iran expected to sign oil refining contracts worth $8.6 billion with a number of Japanese, Chinese and Korean companies, Kazemi said then, adding the biggest deal was reserved for Japan’s Marubeni, Chiyoda and Mitsui companies to upgrade Isfahan refinery at $3.6 billion.

A separate $2 billion contract is about to be signed with South Korea’s Daelim company to boost oil processing capacity at Isfahan refinery, said Kazemi, who is also Iran’s deputy petroleum minister.

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The first major Western energy investment since sanctions against Tehran were lifted will cost up to $5 billion, with production expected to start within 40 months, an Oil Ministry source said, Reuters reported.

The US and other world powers lifted sanctions after the country pledged to roll back its nuclear program.

With the 20-year deal, Total is now returning to Iran, where it first began operating in the 1990s. Total CEO Patrick Pouyanné said in a statement on Monday that the investment would be “in strict compliance with applicable national and international laws”.

The US still has restrictions in place that block most American companies from investing in Iran. And some Western companies have been reluctant to jump in since Iran still faces sanctions that prevent firms from transacting with Iran in US dollars.

Total estimates the first phase of the project will cost around $2 billion. It is taking a 50.1 percent stake in the South Pars project. CNPC will own 30 percent while the other 19.9 percent will go to Petropars.

The project will have a production capacity of two billion cubic feet per day, or 400,000 barrels of oil equivalent per day including condensate, according to Total.

Iran’s Oil Ministry predicts the project will eventually produce gas products worth $54 billion based on current prices. The gas will start flowing into the Iranian market in 2021.

Iran has significantly ramped up its energy production since the sanctions were relaxed.

Figures from OPEC show Iran has boosted its daily crude oil production by more than 33 percent since 2015.

Iran sits on nine percent of the world’s proven oil reserves and 18 percent of the planet’s natural gas, according to data from BP’s Statistical Review of World Energy.

Iran and Qatar share the South Pars field.

Iran has signed a flurry of deals with Western companies over the past year since the easing of international sanctions on Tehran after an accord was reached over its nuclear program.

Iran needs foreign investment to repair and upgrade its oil and gas fields. It also seeks the transfer of technology to its oil industry after a decade of sanctions.

Iran has named 34 companies from over a dozen countries as being eligible to bid for oil and gas projects using the new, less restrictive contract model.

The firms include Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies from China, Austria, Japan and other countries.

Russia’s Zarubezhneft signed an MoU to conduct feasibility studies on two joint fields in the west of the country.

Norway‘s International Aker Solutions Company signed an MoU to modernize Iran’s oil industry.

In May 2016, Austria’s OMV signed an MoU for projects in the Zagros area in western Iran and the Fars field in the south.

South Korean Daewoo Engineering and Construction (Daewoo E&C) signed an MoU to construct an oil refinery in Bandar Jask, on the southern coast of Iran.

Italy’s Saipem signed MoUs to cooperate on pipeline projects, upgrading of refineries and development of Tous gas field in the northeastern province of Khorasan Razavi.

Norwegian oil and gas company DNO said it was the second Western energy company after Total to sign a deal with Iran under which it agreed to study the development of the Changuleh oilfield in western Iran.

Lukoil, Russia’s second biggest oil producer, hopes to reach a decision on developing two new oilfields in Iran.

Germany’s Siemens AG signed an MoU in May to overhaul equipment and facilities at Iran’s oil operations and refineries.

BASF’s Wintershall oil and gas exploration subsidiary signed an MoU with the National Iranian Oil Company in April 2016.

President Rouhani:
Developing South Pars Phase 11 not only an economic contract, but also a scientific, technological, management cooperation

President Rouhani met with the Chairman and CEO of France’s Total company and described South Pars region as an important centre for developing international cooperation with Iran in the field of energy-technology.

In the meeting that was held on Monday in Tehran, Dr Rouhani told Total’s Patrick Pouyanné: “Due to the good potentials and hard-working young men in Iran, the contract of developing Phase 11 of South Pars is not only an economic one, but also a scientific, technological and management cooperation”.

Total CEO: We seek a long-term cooperation with Iran

“The Islamic Republic of Iran and France have always had good relations and cooperation with each other,” he continued saying.

Referring to France’s position in economy and energy technology, he added: “The signing and execution of this contract will be a significant step in development of economic and technological cooperation between the two countries”.

Stating that the 11th administration has attempted to finalise the Joint Comprehensive Plan of Action (JCPOA) to clear the path for economic cooperation between major companies and Iran, the President said: “Fortunately, this political will from the Iranian side and among P5+1 countries paved the way for this agreements with Total”.

President also referred to his Europe and France visit after the signing of JCPOA, adding: “In Paris, there was a good political will among the authorities of both countries to develop cooperation and important agreements were signed between the two countries to deepen ties and cooperation”.

“It is our policy to cooperate with major companies such as Total,” said Dr Rouhani, adding: “Currently, projects in gas and oil worth roughly $200bn are ready to be invested on and major foreign companies can cooperate in these projects”.

“We must work hard to achieve peace and stability in the region serving economic progress and development of the region, because scientific and developmental cooperation can help us combat ignorance and poverty as the bedrocks of terrorism expansion,” he continued.

The President also expressed hope that with the new agreements and cooperation in the field of gas, oil and petrochemicals, Iran and France take considerable steps in developing ties.

During the meeting, the Chairman and CEO of France’s Total company Patrick Pouyanné also expressed happiness over meeting the President of the Islamic Republic of Iran and described the contract as a very important one, saying: “Today, we are very happy that we could finalise and execute the contract with the help of the authorities of the two countries”.

Stating that the JCPOA agreement has paved the way for further development of relations between European countries and Iran, he said: “We are optimistic about our cooperation with Iranian companies”.

“We seek a long-term cooperation with Iran,” continued Pouyanné.

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