Latest Business News in Iran – News and reports about all things to do with commerce, trade, banking and industry in Iran and the world. Covering ongoing developments, market news, contracts, joint ventures, trade delegations, chambers of commerce, manufacturing, labour news and resource management.
Iran’s Persian Gulf Star Oil Company (PGSOC) in the southern Iranian port city of Bandar Abbas has increased its refining capacity from 36 thousand barrels at inauguration over six years ago to 455 thousand barrels, the company’s director said on Wednesday.
The newly-appointed Saudi ambassador to Iran says the kingdom eyes expansion of petrochemical cooperation with Iran, according to the Iranian Oil Ministry.
Iran’s oil minister, Mohammad Javad Owji reaffirmed Tehran’s commitment to its share in the Arash gas field in the Persian Gulf, vowing not to exceed the agreed-upon production levels.
Iranian Vice President for Science, Technology and Knowledge-based Economy Rouhollah Dehghani, who is in the Cuban capital Havana to take part in the G77+China Summit, called on the nations of the global south for further cooperation to move beyond selling raw materials and resources by shifting towards digital economy.
The Biden administration has issued a blanket waiver for international banks to transfer six billion dollars in blocked Iranian assets from South Korea to Qatar with no concern about Washington's sanctions.
Iran's Foreign Minister Hossein Amirabdollahian has stated that a recent agreement reached to unblock the country’s frozen funds in South Korea will open a new chapter in the two country’s relations.
Images have been posted on the cyberspace suggesting the Russian-made Yak-30 combat-training aircraft has been imported into the country and joined the Air Force.
Iran and Russia have signed a five-year cooperation agreement on the standardization of products traded between the two countries, in particular non-industrial goods and halal products, the Iranian Embassy in Russia has announced.
A former Iranian diplomat has warned government officials of the consequences of ignoring economic development at home while pushing for the defense and military agenda.
Iranian Foreign Minister Hossein Amirabdollahian has called for a final agreement with India for implementing the Chabahar Port project, in southeast of Iran.
In a shocking revelation, the Prosecutor of Tehran has announced the investigation into a major embezzlement case involving a staggering amount of 29 thousand billion rials in one of Tehran's state banks.
Iran officially resumed gas production at Phase 11 of South Pars, the world's largest gas field in the Persian Gulf, after a 20-year delay in a ceremony on Monday attended by President Ebrahim Raisi.
Iran believes a dispute with neighboring Kuwait surrounding a gas field in the Persian Gulf is not a big problem as Ali Asghar Khaji, a senior aide to the Iranian foreign minister says, adding the issue can be resolved given the good relations between the two countries.
Iranian Oil Minister Javad Oji says since the start of the current administration in Iran two years ago, 33 half-completed projects have been inaugurated using a $12 billion investment.
China's ambassador to Iran says the two countries are at the peak of their cooperation, voicing hope that with the efforts of the Iranian and Chinese presidents, bilateral relations will improve more than ever.
An American-owned oil tanker long suspected of carrying Iranian crude oil began offloading its cargo near Texas late Saturday, tracking data shows. Tehran has previously warned against any move to discharge the cargo.
Tehran has received the “necessary guarantees” that its assets blocked abroad due to the US sanctions will be unblocked under an agreement mediated by regional friends, Iranian Foreign Ministry Spokesperson Nasser Kanaani told reporters on Monday.
While Iranian officials have rejected reports that the government is planning to increase gasoline prices at the pump, unofficial sources have not ruled out the price hike.
Iran and Armenia have signed a new agreement to export Iranian gas to the former Soviet republic. The agreement was signed in a ceremony in the Armenian capital Yerevan with Majid Chegini, Iran’s Deputy Oil Minister, and Mehdi Sobhani, Iran’s Ambassador To Armenia and Sanusian, Armenian Minister of Regional Management and Infrastructure being in attendance.
The Iranian Foreign Ministry says the process of releasing billions of dollars from the assets of the Islamic Republic of Iran, which were illegally seized in South Korea by the United States for several years, has begun.
The head of National Iranian Oil Company and deputy petroleum minister says Iran’s production of crude oil will surpass 3.5 million barrels per day by the end of September in a new blow to US sanctions on the Islamic Republic.
Iranian Foreign Minister Hossein Amirabdollahian will leave Tehran for Pretoria, South Africa, later on Wednesday to take part in a joint economic commission scheduled to be held on Thursday after a three-year pause due to COVID-19 outbreak.
