Total Azar Oilfield Output Crosses 500k Barrels

The total amount of crude oil recovered from Azar Oilfield has exceeded half a million barrels, an official with the Petroleum Engineering and Development Company (PEDEC) said. Keyvan Yarahmadi, operator of the field’s development project at PEDEC, said production from the field is expected to reach 30,000 b/d by the end of the month of […]

Iran Khodro ups Capacity at Iraq Plant

By John Lee. Iran Khodro (IKCO) has said that 2,500 units of its Samand model (pictured) are expected to be produced this year in its Iraq plant. The site at Iskandariya has been upgraded with new equipment, and now has the capacity to make 45 to 50 cars per day. (Source: IKCO)

Iran provides $66bn Loans to Mining, Industry

By John Lee. Iran has reportedly allocated loans amounting to over $66 billion to the mining, industry and trade sectors in the year just finished. Mohammad Reza Nematzadeh, Minister of Industry, Mines, and Trade, was quoted as saying that $46 billion in banking facilities were earmarked for mining and industry sectors while over $20 billion […]

Why Region should prepare for long Saudi-Iranian Confrontation

By Saeid Jafari, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Ties between Iran and the Gulf Cooperation Council (GCC) have been strained for years. Incidents such as the stampede during the Hajj pilgrimage in 2015, in which hundreds of Iranian pilgrims were crushed to […]

Total to Finalize South Pars Deal “within Weeks”

Iran says it expects France’s Total to finalize an agreement over the development of a key natural gas project in the country’s south in less than a month. Amirhossein Zamaniniya, Iran’s deputy petroleum minister for international affairs and trading, was quoted by domestic media as saying that Total had been waiting to see whether there […]

Can Iran stop Iraqi Kurdistan Independence?

By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News.  As talk of an independence referendum for Iraq’s Kurdistan Regional Government (KRG) grows, Iran’s role is becoming more visible, especially that of Qasem Soleimani (pictured), the powerful commander of […]

President opens 17 projects in Qazvin

President Rouhani opened 17 industrial and infrastructural projects in Qazvin province. At the ceremony that was held on Sunday in the city of Qazvin, the centre of Qazvin province, Dr Rouhani opened the projects through videoconferencing. The projects were in the field of polymer and plastic production, wood, agriculture, animal husbandry, irrigation systems, park, gas […]

$500m Exports of Knowledge-Based Products in 3 Yrs

Iranian Minister of Science, Research and Technology Mohammad Farhadi said the country has exported more than $500 million worth of knowledge-based products over the past three years. Speaking to reporters in Tehran on Monday on the sidelines of the 5th Laboratory Equipment and Chemicals Exhibition (Iran Lab 2017), Farhadi said over 10,000 products have been […]

Zangeneh: Minimum Risk of New Sanctions

International companies should seize new opportunities for investment in Iran’s economic and energy sectors despite the talks about new sanctions in the wake of increasing political tensions between Tehran and Washington, a top oil official says. “If there are new restrictions, it will not affect the deals that are concluded after the easing of restrictions […]

Indigo Invests in Iranian Fast Moving Consumer Goods

Indigo Holdings plc, the Middle East focused Investment Company that provides investors with exposure to early stage businesses, has invested IRR 10,000,000,000 (Ten billion Rial), approximately £200,000, in FMCG, the recently established online retail delivery business of Yaran Daryan, the Iranian convenience store chain. Indigo has acquired a 15% equity stake in FMCG at a […]