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

Minister: Iran oil production increased 60 percent

IFP Editorial Staff -
Iran’s Oil Minister Javad Owji said oil production in the country has jumped 60 percent in the past 2 ½ years.
Energy

Pakistan says to block any external interference on Iran gas project

IFP Media Wire -
Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar has reiterated that Islamabad will deter external interference when it comes to complying with the terms of a natural gas import contract with Tehran.
Nuclear

1st concrete pouring for Karun nuclear island set for fall: Iran revives dormant power plant

IFP Editorial Staff -
Mohammad Eslami, the head of the Atomic Energy Organization of Iran, announced that the construction of the first nuclear concreting island at the Karun site in southern Iran will commence in the fall.
Economy

Iran, China can increase bilateral trade to above $50bn annually

IFP Editorial Staff -
The head of Iran's Chamber of Commerce says the trade volume between Iran and China is currently 30 billion dollars but the two countries have the potential to increase the figure to 50 billion dollars per year.
Economy

Reoort: Raisi’s administration sets inflation record

IFP Editorial Staff -
Iran’s Ham-Mihan newspaper says the country has experienced its highest inflation in 80 years during the administration of President Ebrahim Raisi’s tenure.
Judiciary

Former Iranian official detained on corruption charges 

IFP Editorial Staff -
The former deputy of the Arvnad Free Zone in southern Iran has been reportedly detained in on corruption charges.
Economy

Official: Iran has become regional economic, industrial hub

IFP Editorial Staff -
Iran’s Minister of Industries, Mines and Commerce Abbas Aliabadi says Iran has turned into a regional trade and industrial hub despite the Western sanctions.
Foreign Policy

President Raisi: Iran cannot be sanctioned

IFP Editorial Staff -
Iranian President Ebrahim Raisi says Western efforts to isolate Iran have failed as the country has resorted to its natural wealth and human resources to make the punitive measures fizzle out.
Foreign Policy

Tehran, Islamabad open new chapter in relations with $10bn trade exchange deal goal

Mahdi Arman -
Iran and Pakistan are set to deepen their strategic ties by setting a 10-billion-dollar objective in their trade exchange and investment, IRNA news agency reported.
Energy

Iran oil exports hit 6-year high amid US sanctions: Report

IFP Media Wire -
Tehran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost, the Financial Times has reported.
Energy

Report: Iran ahead of other OPEC members in terms of rise in crude output in March

IFP Editorial Staff -
The Organization of Petroleum Exporting Countries (OPEC) says Iran took the lead among oil producers in March 2024 when it produced 3 million 188 thousand barrels per day (bpd) of crude, 28,000 bpd more that its output in February.
Transportation

Official: Afghan authorities bully Iranian truck drivers  

IFP Editorial Staff -
The deputy head of Iran’s Association of Truckers Trade Unions says Afghanistan has limited the traffic of the Iranian trucks by bullying and imposing very strict rules for the movement of Iranian trucks in the country.
Energy

Pakistan says reserves right to import gas from Iran despite US objections

IFP Media Wire -
Pakistan has stressed it is within its rights to import natural gas from Iran despite the US objections to fresh attempts by Islamabad to revive a 2009 gas supply agreement with Tehran.
Energy

Iran extends gas export contract with Iraq

Mahdi Arman -
Iran has renewed a contract with Iraq to export gas to its western neighbor for five more years.
Transportation

Holidaymakers flock to cities across Iran during Nowruz

IFP Editorial Staff -
With the advent of the Iranian New Year on Wednesday, holidaymakers across Iran travel to other cities to visit their families and relatives, or find a resort to chillax after a year of hard work, or just zip across the four corners of the country.
Security

Top comdr.: Iran to retaliate in kind if oil tankers stolen

IFP Editorial Staff -
A senior Iranian commander says Iran will retaliate in kind if its petroleum shipments are stolen.
Energy

Iran celebrates 73rd anniv. of oil industry nationalization

IFP Editorial Staff -
Iran is commemorating the 73rd anniversary of its historic nationalization of the oil industry, a landmark event that reshaped the nation's trajectory.
Energy

Minister: Iran signs oil contract worth $13bn

IFP Editorial Staff -
The Iranian petroleum minister says the country has signed the biggest ever contract in the nation’s oil history worth $13 billion.
Energy

Trump reelection not to hinder Iran’s oil sales: Minister

IFP Media Wire -
Iranian Oil Minister Javad Owji says that Tehran’s oil exports won’t be hampered if Donald Trump wins the US presidential elections in November. He also added that sanctions and acts of sabotage have failed to stop the country’s progress in the oil sector.
Energy

Iran issues fresh warning against Kuwait over Arash gas field row

IFP Editorial Staff -
Iran says it believes in ‘integrated and joint’ extraction with Kuwait and Saudi Arabia from the disputed Arash gas field in the Persian Gulf, warning Tehran will start drilling in the field if Kuwait does so.
Incidents

One killed, 3 injured in oil refinery blast in southern Iran

IFP Editorial Staff -
One person was killed and two others were injured in an explosion at an oil refinery in the southern Iranian port city of Bandar Abbas.
Judiciary

Official: ICAO court issues ruling on Ukraine plane crash in favor of Iran

IFP Editorial Staff -
The court that deals with the cases on the International Civil Aviation Organization (ICAO) has issued a verdict on a 2020 Ukrainian plane crash incident over Tehran sky, exonerating Iran from accusations of intentionally downing the airliner, the Iranian vice president for legal affairs announced.
Energy

Iran has potential to become energy hub: President Raisi

IFP Media Wire -
President Ebrahim Raisi expressed Iran’s readiness to become a energy hub, stating that his country could turn into a safe route for the transfer and distribution of natural gas among suppliers and consumers.
Energy

Iranian research institute wins GECF award in Algiers

IFP Editorial Staff -
Iran’s Research Institute of Petroleum Industry (RIPI) has been granted the Gas Exporting Countries Forum (GECF)’s Award for Long-Term Commitment to Natural Gas in recognition of its contribution to the natural gas sector.
Energy

Iran gas production grew 2.5 times more than global average during ten-year period: Oil minister

IFP Media Wire -
Iranian Oil Minister Javad Owji has stated that the country’s natural gas production from 2012 to 2022 saw an average growth of 5.2 percent. He added that the figures show the production volume in Iran was more than 2.5 times the global average growth during this period.
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