Iran, Russia, Turkey Sign $7bn Drilling Deal

Turkey’s Unit International announced it has signed a $7 billion agreement with Iran’s Ghadir Investment Holding and Russia’s state-owned Zarubezhneft to drill for oil and natural gas in Iran. In a statement, Unit said the three companies had invested a total of $7 billion for the drilling, which would take place at three oil fields […]

Iran “Freezes Assets of BBC Persian Staff”

The BBC has said that Iranian authorities have frozen the assets of BBC Persian staff in Iran. BBC World Service Director Francesca Unsworth said the order was preventing staff from selling or buying property, cars and other goods. The service, which broadcasts on TV, on radio and online, is banned in Iran. More from BBC […]

DNO Submits Plan for Changouleh Oil Field

The National Iranian Oil Company (NIOC) has received a proposal from Norway’s DNO oil and gas operator for the development of Changouleh Oil Field, a major one in western parts of the country. Gholam-Reza Manouchehri, the deputy for development and engineering affairs of NIOC confirmed that DNO’s proposed plan for the development of Changuleh oil […]

The real footprint of the IRGC in Iran’s economy

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Iranian economy consists of three distinct sectors: public, private and semi-state — which includes religious, revolutionary, military foundations and cooperatives, as well as social security and pension funds. Experts agree that as a […]

Omani Delegation Visits Iran for Trade Talks

An Omani trade delegation paid a visit to the southeastern Iranian southern port city of Jask, Hormozgan province, to discuss ways to improve economic ties between the two nations, a report said. Headed by Khamis bin Abdullah al Farsi, the director general of commerce at Oman’s Ministry of Commerce and Industry, the mission held a […]

Talent Continues to Leave Iran in Droves

By Zahra Alipour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Seven exceptionally talented Iranian math students lost their lives in a bus crash on March 17, 1998. One of them was enrolled at Tehran University, while the others were studying at Sharif University of Technology. […]

Iran in Talks with Airbus to Buy 45 Medical Helicopters

Iran’s Deputy Transport Minister Asghar Fakhrieh Kashan said Tehran is in negotiation with European aircraft maker Airbus to purchase 45 helicopters for civilian use. “The Health Ministry is planning to order 45 HEMS (Helicopter Emergency Medical Service) helicopters and the purchase is being negotiated by the Ministry of Roads and Urban Development,” Fakhrieh Kashan said […]

Iran to Hold Exhibition in Istanbul in October

An exhibition of Iranian products and goods is planned to be staged in the Turkish city of Istanbul in late October, according to the Iranian Embassy in Turkey. The Iran Solo Exhibition will open on October 25 and last until October 28, the commercial attaché of the embassy, Hamid Zadboum announced. It will be launched […]

Iran steps up Pressure on Iraqi Kurds to Halt Referendum

By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran and the Kurdistan Regional Government (KRG) have become entangled in a war of words as the referendum on Iraqi Kurdistan’s independence nears. Both sides are now making veiled threats, which — if they […]

Iran-US Bilateral Trade Drops by 29% in 6 Months

The total value of trade exchanges between Iran and the US over the first half of 2017 has decreased by 29 percent, according to the latest data released by the US Census Bureau. The bilateral trade between the Islamic Republic and the US from January to June amounted to $77.2 million, showing a 29% drop, […]