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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.

Economy

Raisi: Iran and Uzbekistan want to expand trade ties

IFP Editorial Staff -
Iran’s President Ebrahim Raisi says his administration’s top priority is to interact with neighbors and regional countries.
Energy

Former Iran official: Further delay in JCPOA signing means Iran will lose oil markets

IFP Editorial Staff -
The Iranian oil ministry’s former director of international affairs says further delay in the revival of the 2015 nuclear deal, JCPOA, means Iran will lose oil markets.
Energy

Official: Sabotage behind fire at Iranian oil field, production to resume soon

IFP Editorial Staff -
An Iranian oil official says the fire that briefly engulfed the Shadegan oil field in the southern province of Khuzestan was caused by an act of sabotage, and that the site will resume production operations soon.
Transportation

Police: Road accidents in Tehran leave 600 deaths annually

IFP Editorial Staff -
At least 600 people die and 20 thousand people are injured every year in traffic-related accidents in the Iranian capital Tehran, according to a traffic police official.
Economy

Official: Iran-ECO trade up 40 percent

IFP Editorial Staff -
The spokesman of the Islamic Republic of Iran Customs Administration reports a 40-percent rise in the country’s exports of non-oil commodities to members of the Economic Cooperation Organization (ECO) in the first five months of this year, compared to the same period in 2021.
Energy

Iran’s new power plant to generate 6,000 MW of electricity by next year

IFP Editorial Staff -
The deputy head of Iran’s thermal electricity company says 6,000 MW will be added to the country's power plant capacity by the summer peak of the next Persian year of 1402.
Economy

Iran’s trade with SCO surges by 31%

IFP Editorial Staff -
The spokesman for Iran’s Customs Organization says the country's trade with members of the Shanghai Cooperation Organization in the first five months of the current Iranian year of 1401 was valued at 17 billion dollars.
Economy

Poll: 87% of investors have no ‘clear picture’ of Iranian economy’s future

IFP Editorial Staff -
An opinion poll finds that a majority of investors in Iran do not have a “clear” picture of the country’s future, given the economic woes facing the Islamic Republic, saying they are now “walking the razor’s edge.”
Economy

Official: Iran’s 5-month trade with neighbors exceeds $20bn

IFP Editorial Staff -
Over 33 tons of goods worth 20.6 billion dollars have been exchanged between Iran and its neighboring counties during the past five months, showing a significant rise compared to same period last year, the spokesperson of Iran’s customs administration says.
Energy

Minister voices Iran’s readiness to supply oil and gas to market

IFP Media Wire -
Iranian Oil Minister Javad Owji expressed Tehran’s readiness to supply oil and gas to the global market irrespective of politics and help improve energy security in the world.
Energy

“Iran has never used its gas and oil as leverage”

IFP Editorial Staff -
A senior advisor to the Iranian negotiating team in Vienna, Mohamamd Marandi, has criticized the Western policy of sanctions vis-à-vis Iran, saying the Islamic Republic has never used its oil and gas as leverage despite that it sits on huge reserves of them.
Energy

NIOC: Iran’s daily oil production capacity to top 4 million barrels in months

IFP Editorial Staff -
The head of the National Iranian Oil Company (NIOC) says the country will increase the capacity of daily crude production by 200,000 barrels to reach a total of 4,038,000 by the end of this Persian calendar year.
Energy

Former Iranian official: Europe eyes Iran, Venezuela oil, gas

IFP Editorial Staff -
A former official with Iran’s ministry of oil says Europe is pinning its hopes on gas supplies from Iran and Venezuela, both under US-speared sanctions, to replace the Russian gas before the winter.
Transportation

Iran resumes flights to Najaf as calm returns to Iraq

IFP Editorial Staff -
Iran has resumed its flights to the Iraqi city of Najaf hours after officials announced the reopening of land borders to the country, as calm returns to the Iraqi capital following a wave of deadly violence there.
Energy

Iran launches $1bn worth of project at South Pars gas field, in Persian Gulf

IFP Editorial Staff -
Iran’s oil minister says one billion dollars’ worth of projects became operational in the massive South Pars gas field on Monday, adding that another two billion dollars’ worth of projects will be launched in the near future.
Energy

Idle phase of Iran South Pars gas field to produce energy after 20 years

IFP Editorial Staff -
Iran’s oil minister says Phase 11 of South Pars gas field in the Persian Gulf which has been idle without any production for 20 years will produce 10 million cubic meters of gas in the winter of this year. 
Transportation

Iran, Russia to complete Garmsar-Incheh Borun railway

IFP Editorial Staff -
Iran and Russia are set to expedite their cooperation in railway transportation by financing and completing electrification of a vital route in Iran, an official with Iran’s Ministry of Transportation says.
Economy

Central bank chief: Iran, Russia using national currencies in trade

IFP Editorial Staff -
The head of the Central Bank of Iran (CBI) says Tehran and Moscow have already started using their national currencies in certain fields of trade and are set to de-dollarize other sectors of their commercial relations as well.
Economy

Economy minister: Iran’s oil income 5 times more than last year

IFP Editorial Staff -
Iran’s minister of economy and finance says the Islamic Republic’s oil income has increased five-fold compared to last year and eleven-fold compared to the year before despite unrelenting US-led sanctions, raising hopes that many of the economic hardships in the country will soon be tackled.
Energy

Iran and Nigeria sign energy deals

IFP Editorial Staff -
Iranian Oil Minister Javad Owji says he is hopeful cooperation with Nigeria in the energy sector will improve following the signing of several deals between the two countries.
Economy

Minister: Iran, Russia start using national currencies in transactions

IFP Editorial Staff -
Iran's minister of industries, mining and trade says the country and Russia have started doing business in their national currencies, namely rial and ruble.
Nuclear

AEOI head: Iran seeking production of 10,000-megawatt nuclear power

IFP Editorial Staff -
The head of the Atomic Energy Organization of Iran (AEOI) says construction of a 10,000-megawatt nuclear power plant to generate electricity in line with production of clean energy is high on the agenda for the Iranian atomic energy organization.
Energy

Oil minister: Iran to set new gas production record at South Pars this year

IFP Editorial Staff -
Iranian Oil Minister Javad Owji highlights the development projects underway at the South Pars gas-condensate field and says the country will set a new record this year in the volume of production at the key field shared with Qatar in the Persian Gulf.
Transportation

Tehran-Karbala train to start next week

IFP Editorial Staff -
Pilgrims of the Iraqi holy city of Karbala can travel from the Iranian capital Tehran via train from next week, the Iranian railway transportation company said.
Industry

Iran, Russia sign automotive deals worth €700mn

IFP Editorial Staff -
Iranian and Russian car manufacturing companies have signed 12 cooperation deals worth 700 million euros on the sidelines of an international automobile exhibition in the Russian capital Moscow.
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