Iran’s petrochemical industry was privatized more than a decade ago. Today, the government is only paving the ground for the development of petrochemical sector. During years of international sanctions on Iran, the government was of great help to the private sector in its transactions. The signature of a historic nuclear deal between Iran and six…
Minister of Petroleum Bijan Zanganeh said on Tuesday that Iranian oil industry needs $130 billion investment to meet the Sixth Five-Year Economic Development Plan (2016-21) targets. Zanganeh told a televised interview, “We use different methods for financing and there is not the possibility for attraction of all the needed capital through contracts.” On the contract…
An NPC official said Iran’s petrochemical exports to Europe experienced a twofold increase in the first seven months of the current Iranian year as compared with the same period last year. Director of Production Control in Iran’s National Petrochemical Company (NPC) Alimohammad Bosaghzadeh expressed satisfaction towards production volume of Iranian petrochemicals in the first seven…
Iran says it has exported above $300 million worth of medicinal herbs since January. Peyman Yousefi Azar, the director of Medicinal Herbs Department of Iran’s Ministry of Agriculture Jihad, told the domestic media that saffron comprised almost two thirds of the exports. The Damask rose comprised a third of the exports, Yousefi Azar said adding…
The International North-South Transport Corridor (INSTC), which carried out the first test shipment this month between India and Russia, has received a shot in the arm with Germany’s decision to trade with Iran via this connectivity project. Deutsche Bahn has expressed interest in using INSTC and delivering goods from Europe to Iran Deutsche Bahn, a…
Figures released by the Customs Administration of Iran show that the country’s exports from Germany have increased by 25 percent. Iran’s official figures show that the country’s imports from Germany have increased by a quarter in what could be a fresh indication of growing opening in Iran’s post-sanctions business environment. Iran imported $1.27 billion worth…
Iran has signed initial agreements with Germany’s Hermes insurance firm and Swiss Export Risk Insurance (SERV) to provide cover for transactions with Europe. The Export Guarantee Fund of Iran (EGFI) signed the agreements in Lisbon on the sidelines of the annual meeting of Bern Union — an association of private and state export credit insurers…
Deputy oil minister said oil cooperation between Iran and Germany’s Deutsche Bank have been resumed. Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia touched upon lack of cooperation on the part of major European banks with Iran especially as regards oil deals in the post-JCPOA era and added “however, unlike the past when…
Iran-Daily: Western insurers are slowly reaching deals with Iran as they seek to reenter a multibillion-dollar market 10 months after the lifting of international sanctions in January. Iran is now in more active talks with insurers to provide cover in a market valued at $9 billion overall last year and potentially double that in the…
The head of the German Research Foundation (DFG) has said there is no limitation to cooperate with Iran’s National Science Foundation (INSF). The heads of German DFG, Max Planck Society for the Advancement of Science and Iran’s INSF in a meeting stressed the importance of expanding mutual cooperation in science and technology. They also discussed…
