Tuesday, March 19, 2024

Business

Iran celebrates 73rd anniv. of oil industry nationalization

Iran is commemorating the 73rd anniversary of its historic nationalization of the oil industry, a landmark event that reshaped the nation's trajectory.

Minister: Iran signs oil contract worth $13bn

The Iranian petroleum minister says the country has signed the biggest ever contract in the nation’s oil history worth $13 billion.

Trump reelection not to hinder Iran’s oil sales: Minister

Iranian Oil Minister Javad Owji says that Tehran’s oil exports won’t be hampered if Donald Trump wins the US presidential elections in November. He also added that sanctions and acts of sabotage have failed to stop the country’s progress in the oil sector.

Iran issues fresh warning against Kuwait over Arash gas field row

Iran says it believes in ‘integrated and joint’ extraction with Kuwait and Saudi Arabia from the disputed Arash gas field in the Persian Gulf, warning Tehran will start drilling in the field if Kuwait does so.

One killed, 3 injured in oil refinery blast in southern Iran

One person was killed and two others were injured in an explosion at an oil refinery in the southern Iranian port city of Bandar Abbas.

Official: ICAO court issues ruling on Ukraine plane crash in favor of Iran

The court that deals with the cases on the International Civil Aviation Organization (ICAO) has issued a verdict on a 2020 Ukrainian plane crash incident over Tehran sky, exonerating Iran from accusations of intentionally downing the airliner, the Iranian vice president for legal affairs announced.

Iran has potential to become energy hub: President Raisi

President Ebrahim Raisi expressed Iran’s readiness to become a energy hub, stating that his country could turn into a safe route for the transfer and distribution of natural gas among suppliers and consumers.

Iranian research institute wins GECF award in Algiers

Iran’s Research Institute of Petroleum Industry (RIPI) has been granted the Gas Exporting Countries Forum (GECF)’s Award for Long-Term Commitment to Natural Gas in recognition of its contribution to the natural gas sector.

Iran gas production grew 2.5 times more than global average during ten-year period: Oil minister

Iranian Oil Minister Javad Owji has stated that the country’s natural gas production from 2012 to 2022 saw an average growth of 5.2 percent. He added that the figures show the production volume in Iran was more than 2.5 times the global average growth during this period.

Pakistan says US sanctions ‘may not apply’ to gas pipeline project with Iran

Pakistan’s caretaker energy minister has stated Washington’s anti-Tehran sanctions, imposed over its nuclear program, may not apply to the Iran-Pakistan gas pipeline as Islamabad was going to start work on the project within its territory and connect to the neighboring country.

Iran says beats sanctions, economic growth exceeds 6 percent

The Iranian economic and financial affairs minister says the country experienced a growth rate of over 6 percent in economy during the past year.

Envoy: Taliban invest $35mn in Iran’s Chabahar

The Taliban administration in Afghanistan has invested 35 million dollars in Iran’s southeastern port city of Chabahar on commercial, residential and administrative projects, the Iranian special envoy to Kabul announced.

IMF revises up economic growth projection for Iran in 2023

The International Monetary Fund (IMF) has revised up its previous economic growth projection for Iran in 2023, attributing it to a higher-than-expected increase in Tehran’s oil output.

Russian economic delegation heading for Tehran: Iran ambassador

Iran’s ambassador to Moscow says a major Russian economic delegation is heading to Iran.

Iran says Israel was behind recent gas pipeline explosion

A recent blast that hit gas pipelines in Iran has been perpetrated by the Zionist regime, Oil Minister Javad Owji told reporters on Wednesday.

Official says Iran in talks with several countries to set up joint free zones

Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has said negotiations are underway between Tehran and 21 states to launch joint free zones.

VP warns Iran to take ‘reciprocal action’ if its ships are seized by US

Iran’s Vice President for Legal Affairs Mohammad Dehqan has stressed that the country will reciprocate if its ships are seized illegally, as the United States acknowledges the confiscation of Iranian oil.

Official says Iran’s trade with SCO states climbed 5.5%

Tehran’s international trade with the Shanghai Cooperation Organization (SCO) has increased to over $37 billion in the first 10 months of the current Iranian calendar year starting on March 21, 2023, an Iranian official has stated.

President Raisi says tourism industry can rid Iran of dependence on petrodollars

Iranian President Ebrahim Raisi has stressed the necessity to enhance the tourism industry to diversify the sources of national income and diminish the country’s reliance on oil.

IMF says Iran’s economy registered 5.4% growth last year

The International Monetary Fund (IMF) in its latest report put Iran’s economic growth in 2023 at 5.4 percent.

Iran’s oil exports increased 50% last year despite US sanctions: Report

A new report shows that Iran’s oil exports rose by half in 2023 despite sanctions imposed on Tehran by Washington.

Iran, Turkey pledge to enhance bilateral trade following president Raisi’s visit

Tehran and Ankara have jointly declared their commitment to augmenting bilateral trade while also pledging collaborative efforts to achieve peace in West Asia.

Official: Iran’s non-oil exports hit $36bn

Iran’s non-oil exports have reached $36bn over the past nine months.

Iran: Natural gas exports to Iraq underway as planned

Iran says exports of natural gas to neighboring Iraq continue as planned, denying reports of a halt in the process.

Official: Iran, Russia left SWIFT system

Tehran and Moscow have officially switched from the West’s SWIFT financial clearing system to a direct interbank transfer mechanism, the deputy head of the Central Bank of Iran (CBI) has stated.

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