Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.
Tehran is ready to promote cooperation with Minsk in areas such as standardization, bourse, exports of techno-engineering services and holding exhibitions and providing related services.
An Iranian MP did not rule out the possibility of a contractual penalty delay on Pakistan after it failed to honor its obligations under a joint gas pipeline project with Iran.
Tehran and Minsk enjoy growing relations in the political and economic sectors, but both sides must take more serious steps to further strengthen their economic ties, said Jahangiri.
A report released by the Central Bank shows that Iran’s economy posted 4 percent growth in the first half of the year [started March 2014].
A slump in prices is temporary and it will be “difficult, if not impossible” for OPEC to curb its oil production amid a glut, said Ali Al-Naimi, Saudi Arabia’s oil minister.
A consignment of linear low density polyethylene (LLDPE), measuring 2,000 tons with a total value of over $2 million, will be shipped to Belgium next week.
Under a 5-phase joint venture between Iran and Kuwait a steel mill is to be set up in the Persian Gulf Special Mineral Industry Zone in southern Iran.
It is not hard for Iran and South Africa to raise their non-oil trade to $2 billion if their business sectors earnestly get down to business.
Elias Naderan, a principlist MP, says government coffers rely on revenues generated by the government’s monopoly over oil industry and other natural resources.