Cabinet to Revise Oil Contracts

Members of an Iranian parliamentary commission have persuaded the administration officials to revise the new model of oil contracts with foreign customers, an MP announced. Asadollah Qarakhani, member of the parliament’s energy commission, told Tasnim that the commission has discussed the oil contracts in detail. Following a series of objections to the new contracts raised […]

Why Iran’s Bond Market isn’t Attracting the Money

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Why Iran’s Bond Market isn’t Attracting the Money it Needs Despite efforts by Iranian authorities to draw multinational companies to the 9th International Exhibition of Exchange, Bank and Insurance held July 10-13 in Tehran, the […]

Iran in Talks with Mitsui, Total on $60bn Investment

A senior Iranian oil official said the country is in talks with Japan’s Mitsui Chemicals and France’s oil giant Total SA to attract $60 billion in foreign investment. Iran’s National Petrochemical Company (NPC) plans to increase its output capacity to 150 million metric tons a year by 2016 to prepare the ground for more foreign […]

Iran to Finalize Gas Export to Georgia in Weeks

Iran to Finalize Project to Export Gas to Georgia in Weeks A project on exporting Iranian gas to Georgia will be finalized within the next two months, an Iranian official announced Monday. According to managing director of National Iranian Gas Exports Company (NIGEC), Alireza Kameli, Tehran is seriously working on the gas export project. He […]

US can’t seize Manhattan Tower “owned by Iran”

A US court has said that the government cannot seize a 36-story Manhattan office tower originally built by the Shah of Iran, whose owners it claimed were fronts for the Iranian government. According to Reuters, the court also found that hundreds of victims of alleged “terrorist acts” linked to Iran could not force the owners […]

€300m Deal to Build Citroëns in Iran

France’s PSA Group, and SAIPA, Citroën‘s historic partner in Iran since 1966, have signed a framework agreement to create a joint-venture to produce and sell Citroën vehicles in Iran. The French company says this 50/50 joint venture lays the foundations for a strategic partnership between the two companies. It will cover the entire value chain, […]

Indonesia to Import LPG from Iran

Indonesia plans to import liquefied petroleum gas (LPG) from Iran amid a shortage of LPG supplies in various regions of the country. The Indonesian government will import 588,000 tons of LPG during the 2016 to 2017 period through state-owned oil and gas company Pertamina, Antara News reported on Monday. Director of Pertamina Dwi Soetjipto said […]

UK warns Dual Nationals of Detention Risk in Iran

The UK has updated its travel advice on Iran, warning its citizens, especially those with dual Iranian nationality, of a risk of being arbitrarily detained. The Guardian reports the move appears to result from a stalemate over the fate of at least two British-Iranians currently detained in Tehran. One of those, 37 year old charity […]

Iran, Austria to cooperate on Tech Projects

An Austrian delegation of science and technology experts visited the vice-presidency for science and technology in Tehran on Thursday, according to Mehr News Agency. “Since last year, Iran has been visited by numerous Austrian delegations which has led to decent interactions in scientific and technologic areas,” said Ali Morteza Birang, Deputy Science Vice-President for International […]

Iran to Return to Global Bond Markets?

By John Lee. Bloomberg reports that Iran is considering a return to international debt markets for the first time since 2002. Economy Minister Ali Tayebnia (pictured) told the news agency that he expects Iran to secure a credit rating in the “near future,” a step that could help attract investors in Iranian government bonds. He […]