Monday, December 5, 2022

Business

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

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.

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

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.

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

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.

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

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.

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

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.

Iran resumes flights to Najaf as calm returns to Iraq

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.

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

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.

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

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. 

Iran, Russia to complete Garmsar-Incheh Borun railway

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.

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

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

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.

Iran and Nigeria sign energy deals

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.

Minister: Iran, Russia start using national currencies in transactions

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.

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

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.

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

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.

Tehran-Karbala train to start next week

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.

Iran, Russia sign automotive deals worth €700mn

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.

Iraq’s Kurdistan Region PM says local govt. open to closer economic cooperation with Iran

The prime minister of Iraq’s Kurdistan Region says the local government is prepared to increase economic cooperation with Iran, especially the neighboring Iranian province of West Azarbaijan.

Oil minister: Russia developing 7 oil, natural gas fields in Iran

Iran’s oil minister says Russia is leading the development projects of seven oil and natural gas fields in Iran and the two sides are negotiating on contracts for 14 other fields.

Iranian oil minister says Tehran ready to meet Europe’s energy needs in winter

Iran’s Oil Minister Javad Oji says the Islamic Republic has a good capacity to produce oil and gas and their commodities and is thus capable of partly relieving the energy shortage in the world.

Official: 40% of Iran’s aviation fleet grounded

The head of the Civil Aviation Organization of Iran (CAOI) says only 60 percent of the country’s ageing fleet hit by US-led sanctions is operational.

Minister: Iran, Russia set to expand ties in industrial sector

Tehran and Moscow are ready to further develop their cooperation in shipbuilding, aviation and automobile industries, according to the Iranian minister of industry, mines and trade.

Official: Iran will start biggest exhibition presence in Moscow Monday

A spokesman for Iran’s Ministry of Industry, Mining and Commerce says the country’s biggest exhibition presence will kick off on Monday in Moscow.

‘Value of Iran-Iraq trade to reach $9bn mark by year end despite US sanctions’

The chairman of the Iran-Iraq Chamber of Commerce says the value of trade between Tehran and Baghdad will reach the 9-billion-dollar mark in seven months, despite the tough US economic sanctions in place against Iran.

Report reveals billion-dollar corruption in Iran’s steel factory

The Iranian parliament has released a scathing report involving a 3-billion-dollar corruption case in a mega-scale steel company’s management and financial transactions after a 19-month investigation.

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