Business

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.

Energy

Iran to increase South Pars gas production by 100 mcm

Emad Askarieh -
Iran's oil minister has said that as promised before the country will increase its gas production from South Pars by 100 million cubic meters [per day] by yearend [March 2015].
Energy

Rafsanjani urges OPEC cooperation to prevent further drop in oil prices

Emad Askarieh -
Chairman of the Expediency Council Akbar Hashemi Rafsanjani has urged OPEC members to stand united and prevent further drop in oil prices.
Asia

Foreign direct investment in South Asia

IFP Editorial Staff -
Iran, the fifth country in the region in terms of foreign investment absorption, stands a good chance of attracting more capital from abroad.
Economy

Iran allots $15.2b to develop joint oilfields with Iraq

Emad Askarieh -
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.
Economy

12th joint commission with Belarus in March

Emad Askarieh -
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.
Economy

Iranian parliament Committee to study Iran-Pakistan gas project delay

Emad Askarieh -
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.
Economy

Iran, Belarus set to boost economic ties amid West bans: VP

Emad Askarieh -
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.
Energy

Iran raises daily gas output by 70m cubic meters

Emad Askarieh -
Oil Minister Bijan Namdar Zanganeh has said that Iran's gas output has surpassed 70 million cubic meters and is estimated to reach 100 million by year-end.
Energy

Iran sets its sights on joint oil fields

Emad Askarieh -
The Iranian government has devised special plans for the joint oil fields, trying to raise the country’s crude output in four years.
Hard News

Iran hits 66% copper production target

Emad Askarieh -
In order to boost copper production capacity, new investment and development plans are inevitable, said a senior industry ministry official.
Economy

Iran’s economy grows 4 percent in six months

Emad Askarieh -
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].
Energy

By 2040 countries lacking nuclear-generated electricity will fall apart

Emad Askarieh -
Production of nuclear energy is cheaper than wind and solar energies and is not tied to any specific climatic conditions.
Energy

Iran becomes the ninth member of an exclusive club of nations tapping geothermal energy

Emad Askarieh -
Almost a dozen areas across Iran are suitable for generation of geothermal energy.
Selected

Iran’s changed flight routes benefit neighboring countries

Emad Askarieh -
Foreign companies are willing to sell their air navigation products to Iran following nuclear talks between Tehran and P5+1.
Economy

Saudi comments add to market volatility

Emad Askarieh -
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.
Energy

Saudi Arabia serving Western States by Surplus Production

Emad Askarieh -
Chief of Staff of the Iranian Armed Forces Major General Hassan Firouzabadi has said that Saudi Arabia has decreased crude prices to place pressure on regional countries which are fighting ISIL terrorists.
Energy

Iran FM blasts ME countries on falling oil prices

Emad Askarieh -
Iran’s foreign minister has said that Tehran is ready to promote all-out ties with Iraq, adding that Iraq’s progress and security is intertwined with that of Iran.
Economy

Iran to resume petchem exports to Europe

Emad Askarieh -
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.
Economy

We need to attract foreign investment: Iranian deputy trade min.

Emad Askarieh -
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.
Energy

Zanganeh denies Iran, Russia ‘oil bartering’

Emad Askarieh -
Iran's oil chief Bijan Namdar Zanganeh has ruled out reports that Tehran has signed a deal with Russia to barter oil for essential goods.
Energy

With oil prices in free fall, an OPEC extraordinary meeting is likely: Iranian oil minister

Emad Askarieh -
Consensus among all members will determine whether or not an extraordinary meeting of OPEC should be held in case global oil prices continue to drop, said the Iranian oil chief.
Economy

Iran, S. Africa eye $2 billion trade; a dream that can come true

Emad Askarieh -
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.
Economy

Dependence of government’s public funds on oil should end: MP

Emad Askarieh -
Elias Naderan, a principlist MP, says government coffers rely on revenues generated by the government’s monopoly over oil industry and other natural resources.
Energy

Iran to unveil 40 great oil projects at London conference

Emad Askarieh -
The oil projects are mainly in connection with South Pars and West Karoun oil fields and could fetch $40 billion worth of investment.
Economy

Business as usual after 20 years; A German delegation is in Iran

Emad Askarieh -
A German trade delegation is in Tehran to talk business with Iranian officials and size up investment opportunities in the country.
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