India Ready to Invest $20bn in Farzad B Gas Field

Indian Oil Minister Dharmendra Pradhan said his country is ready to make an investment of $20 billion in the development of Iran’s Farzad B gas field in the Persian Gulf. Iran and India can swiftly improve their bilateral relations in the oil and gas sectors in the new (post-sanctions) era, Pradhan said at Iran-India Joint […]

Total Oil Deal: Other Oil Majors to return to Iran?

By Maysam Bizaer, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will Total deal pave way for other oil majors’ return to Iran? French energy giant Total SA is back in Iran, six years after it was forced to halt its operations due to nuclear-related […]

France’s Faurecia Forms 2 Joint Ventures in Iran

Faurecia SA, a France-based automotive equipment supplier, has set up two new joint ventures in Iran in an attempt to strengthen its industrial presence in the Islamic Republic following a lasting nuclear deal between Tehran and world powers, a report said. Emissions control systems will be developed and produced for the Iranian market under a […]

Iran to buy 10 Ships from S Korea

The Islamic Republic of Iran Shipping Lines (IRISL) and South Korea’s Hyundai Heavy Industries Co. are expected to sign a major contract whereby Iran will buy ten ships from the major South Korean shipbuilding company. Under the expected contract, valued at US$650 million, with IRISL, Hyundai will build four 14,400 TEU container ships and six […]

OPEC Deal seen as Victory over Saudi Arabia

By Changiz M. Varzi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian media praises OPEC deal as victory over Saudi Arabia After seven months of negotiations, OPEC agreed to cut production in order to boost the price of oil, while exempting Iran, Nigeria and Libya […]

Telepizza Targets 200 Store in Iran

Spanish-based Telepizza, the leading non-US pizza delivery company by number of stores, has announced its arrival in Iran in March 2017 via a strategic master franchise alliance with its partner Momenin Investment Group and the objective of 200 stores in 10 years. This will mean opening some 20 establishments per year and an investment of […]

India’s UCO Bank to Open Branch in Iran

Indian government-owned bank UCO is going to open a branch in Tehran before the end of the year, Iranian Foreign Minister Mohammad Javad Zarif said. According to Tasnim dispatches, addressing a joint meeting of Iranian and Indian business people in New Delhi on Saturday, Zarif quoted a top Indian Central Bank official as saying that […]

New Zealand Firms to Visit Iran

New Zealand’s Minister of Trade Todd McClay will lead the Oceanian country’s first trade mission to Tehran in 12 years. New Zealand’s government announced in a statement that it is sending McClay at the head of a senior-level business delegation to Iran on Friday. “There is enormous opportunity for Iran and New Zealand to work […]

Iran, Romania sign $700m Energy Deal

By John Lee. Iranian Foreign Minister Mohammad Javad Zarif has signed an agreement with Romania to build a 1,000-megawatt power station near the Iraqi border. The project signed between Pichak Sanat Ilam Company of Iran and the Romanian side calls for investment of up $700 million, 70 percent of which will be sourced by the […]

Germany’s Munich Re eyes Iran Market

By John Lee. The President of Central Insurance of Iran has said that Germany’s Munich Re, the world’s biggest reinsurance company, is considering providing its services to Iran. During a visit to Germany to discuss the prospects of post-sanctions investment opportunities in Iran by insurance companies, Abdul-Nasser Hemmati emphasized that top officials from Munich Re […]