Ilam Refinery Suppling Quality Sulfur for Export

Ilam Refinery, which runs on sour gas, supplies valued items like quality sulfur, while injecting refined gas to the national distribution network for domestic consumption. According to the National Iranian Gas Company (NIGC), Shahryar Daripour, CEO of the refinery, said that over a billion cubic meters of gas was processed in the facility annually, adding […]

IFCC Indigenizes GHP System

Iran Fuel Conservation Company (IFCC) has domestically manufactured a geothermal heat pump (GHP) system. According to an official with the company, Aqil Barati, the system is highly energy efficient and plays a key role in reduction of greenhouse gases. Today, with the ever-increasing demand for air conditioning and, consequently, an increase in the need for […]

Kish Gas Field Development Awarded to POGC

The CEO of Pars Oil and Gas Company (POGC) has said his company was officially awarded development project of Kish Gas Field. According to POGC, Mohammad Meshkinfam said that the project was aimed at production of 85 mcm/d of natural gas from the field. The field, located 30 kilometers off the eastern coast of Lavan Island, […]

Development Fund to Get 20% of Iran’s Oil Money

Members the parliamentary select committee to study budget law signed off on a measure which determines the share of the National Development Fund of Iran (NDFI) from all oil export revenues at 20 percent in their latest open session on Sunday. According to ICANA, Mohammad Mahdi Mofatteh, spokesperson of the committee, said that during deliberation on […]

Iranian Amb to UK summoned over Zaghari-Ratcliffe

The British foreign secretary, Jeremy Hunt, has summoned the Iranian ambassador, Hamid Baeidinejad, to demand that Nazanin Zaghari-Ratcliffe (pictured), the British-Iranian woman held by Tehran, is given proper medical treatment. The dual national, who was sentenced to five years in prison for espionage, has started a hunger strike after her interrogators tried to persuade her […]

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Health Program Manager, Relief International Programme Associate, UNDP – United Nations Development Programme National Professional Officer, WHO – World Health Organization ICLA Assistant (CVAT), Norwegian Refugee Council (NRC) HR & Admin Manager, Norwegian Refugee Council (NRC) HR and Administration Officer, Norwegian Refugee Council (NRC) […]

Iran Drought: Lawmakers Fight over Water Share

By Ehsan Bodaghi for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News. Iran Drought turns Political as Lawmakers Fight over Water Share Eighteen lawmakers representing constituencies from the central Iranian province of Esfahan, where water scarcity has reached an alarming state, have […]

NPC Endorses Protectionism: Official

An official with the National Petrochemical Company (NPC) said the company was keen on facilitating supply of petrochemical items and equipment from domestic manufacturers. According to the company, Ghodratollah Farajpour, the director of production control at NPC, said plans were devised by NPC to maximize provision of items and equipment from domestic manufacturers in the […]

RIPI Joins Refinery Project in Qeshm

The Research Institute of Petroleum Industry (RIPI) has signed an agreement with a private company to join a refinery project in Qeshm Free Trade Zone. The deal is aimed at cooperating in investing, designing, constructing and commissioning an oil refinery in Qeshm Free Trade Zone. The agreement was signed on Saturday based on which RIPI […]

Iran, India to Start Banking Exchange in Coming Days

India’s Ambassador to Iran Saurabh Kumar said the two countries are set to begin banking transactions in coming days as New Delhi has agreed to grant tax exemption to banks trading with Tehran. During a meeting in Tehran on Monday evening, Kumar and Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati exchanged views […]

Iran Falls in Ease of Doing Business Index

By John Lee. Iran has been ranked 128th out of 190 countries in the World Bank‘s recent Doing Business 2019 report, down from 124th place the previous year. Top of the list were New Zealand, Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Libya ranked 186th, with Iraq 171st. Doing […]

Iran “Seeks to Block Instagram”

By John Lee. Officials in Iran are reportedly trying to ban Instagram due to what it deems “immoral” content. According to Israeli news agency Haaretz, Twitter, Facebook and the encrypted messaging service Telegram are all already banned in Iran. Many Iranians use a virtual private networks (VPNs) to get around the ban. More here. (Source: Haaretz)

New NIOC CEO Appointed

Iranian Minister of Petroleum Bijan Zangeneh has appointed Masoud Karbasian as the new CEO of the National Iranian Oil Company (NIOC). Karbasian has replaced Ali Kardor as NIOC CEO who stepped down from his post because of retirement. (Source: PEDEC)

Health Minister Resigns

By John Lee. President Hassan Rouhani has reportedly accepted the resignation of Minister for Health Hassan Qazizadeh Hashemi (pictured). Hashemi resigned following a disagreement over proposed cuts to health spending. According to Iran’s PressTV, Rouhani appointed Saeed Namaki as acting Minister. (Source: PressTV) (Picture credit: Tasnim, under Creative Commons licence)

Official Hails Growing Trend in Iran’s Exports to Iraq

The secretary general of Iran-Iraq joint chamber of commerce highlighted an upward trend in the export of Iranian products to Iraq. In a meeting with Iranian and Iraqi trade delegations, Hamid Hosseini pointed to a growing trend in Iran’s exports to the Arab country, saying its daily value stands at $45 million and sometimes reaches […]

Iraq ‘Not Obliged’ to Abide by US Sanctions on Iran

Iraq’s foreign minister said that his country is “not obliged” to abide by sanctions imposed by the US against Iran and would be pursuing options to continue bilateral trade. On December 20, the US granted Baghdad a 90-day extension to a waiver on abiding by the sanctions that were re-imposed on the Islamic Republic in […]

Iraq Emerges as Iran’s Top Export Destination

Iraq has emerged as Iran’s top export destination in the current Iranian year, an official announced. The director of the export bureau of Iran’s Customs Office, Ali Akbar Shadmani, said the value of the country’s exports since the beginning of the current Iranian year (March 21, 2018) has surpassed $30 billion, with Iraq being the […]

Iraqi Dinar may replace US Dollar in Iran-Iraq Trade

Iranian ambassador to Baghdad said Iran and Iraq are weighing plans to eliminate US dollar in trade transactions and also lift visa requirements for citizens of the two countries. Speaking at a TV program on Saturday night, Iraj Masjedi said Tehran and Baghdad are considering plans to use Iraqi dinar for trade transactions or develop […]

Iraq offers to Mediate between Trump, Iran

By Laura Rozen for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iran Business News. Concerned that tensions between Iran and the United States could blow back onto Iraq, a senior Iraqi diplomat said today that Iraq would be willing to facilitate dialogue between […]

Wildfires Ravage Marshlands on Iran-Iraq Border

By Shaghayegh Rostampour for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. A mother covers her daughter’s mouth and nose with her headscarf as they rush through the heavy smog that blankets a crowded street. She stops to cough, but then […]