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Iran Ranked 138th in Good Country Index

By John Lee. Iran has been ranked 138th out of 153 countries in this year’s Good Country Index, placing it just behind Tonga and Venezuela, and ahead of Antigua. Iraq was ranked last, with Libya second-last. The idea of the Good Country Index to measure what each country on earth contributes to the common good […]

114 Foreign Cos ready for Oil Projects in Iran

114 Foreign Companies Ready to Take Part in Iran’s Oil Projects: Official A member of the Energy Commission of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said 114 foreign companies have announced their readiness to cooperate with the country in its oil projects. Speaking on the sidelines of a visit to the […]

9 Contracts Signed for Enhancing Oil Production

9 Contracts Signed with Local Firms for Maintaining, Enhancing Oil Production National Iranian Oil Company (NIOC) subsidiaries signed 9 contracts with local developers for maintaining and enhancing the production capacity of a number of Iranian oil and gas fields. The deals were signed on Tuesday in a ceremony that was attended by Iranian Minister of […]

New Oilfield Discovered in Southwest Iran

Iran has discovered a new oilfield near the southwestern city of Abadan, Oil Minister Bijan Namdar Zanganeh has said. Speaking to reporters on the sidelines of a cabinet session in Tehran, Zanganeh said workers drilling a well at ‘Minoo’ region near Abadan discovered crude oil on Tuesday morning. “It is the first time we discover […]

New Mechanism to Facilitate Trade with Iran

French, German and UK Foreign Ministers today announced the creation of ‘INSTEX‘, a new mechanism for facilitating legitimate trade with Iran in order to preserve the Iran nuclear deal. Joint statement by the E3 Foreign Ministers Jean-Yves Le Drian (France), Heiko Maas (Germany), Jeremy Hunt (United Kingdom): “France, Germany and the United Kingdom, in accordance […]

Iran, Syria Sign 11 Cooperation Deals

High-ranking officials from Iran and Syria inked 11 agreements, including memorandums of understanding (MoUs), in a bid to boost cooperation between the two countries in diverse areas. The documents were signed during a meeting between Iranian First Vice-President Eshaq Jahangiri and Syrian Prime Minister Imad Khamis in Damascus. Nine MoUs were signed by Iranian and […]

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Iran-Switzerland Payment Channel Ready: Official

The head of Iran-Switzerland Joint Chamber of Commerce announced that a payments channel has been developed and prepared to be inaugurated in a bid to boost bilateral trade between the two countries. In remarks released on Wednesday, Sharif Nezam Mafi said the financial mechanism has been prepared and its operational features have been announced. The […]

France Says SPV to Be Implemented in ‘Coming Days’

The French foreign minister said the special purpose vehicle (SPV), the EU mechanism aimed at facilitating trade with Iran in the US sanctions era, would be established in the “coming days”. The SPV “should be implemented in the coming days”, Jean-Yves Le Drian told the French parliament’s foreign affairs committee, Reuters reported late on Wednesday. […]

2018 – Iran’s “Year of Shame”: Amnesty International

Iran’s ‘year of shame’: More than 7,000 arrested in chilling crackdown on dissent during 2018 The Iranian authorities carried out a shameless campaign of repression during 2018, crushing protests and arresting thousands in a wide-scale crackdown on dissent, said Amnesty International, a year after a wave of protests against poverty, corruption and authoritarianism erupted across […]

Iraq “must not be Reliant on Iran”

By John Lee. The UK’s foreign office minister for the Middle East has reportedly said that Iraq must wean itself off economic reliance on Iran and become more energy self-sufficient. On a visit to Iraq on Sunday, Alistair Burt (pictured) told Reuters: “To expect Iran to have no influence in Iraq is fanciful … What […]

What Iran’s Revolution meant for Iraq

By Bruce Riedel, Brookings Institution. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. What Iran’s Revolution meant for Iraq The collapse of the shah’s government in Iran in early 1979 impacted the entire world but no country was more affected than Iraq. Saddam Hussein’s regime […]

7m Iranians, Iraqis Visit Each Other’s Country Annually

Iran’s Foreign Minister Mohammad Javad Zarif said the fact that each year, 7 million Iraqis and Iranians visit each other’s country is a sign of the two neighboring countries’ close ties. Speaking at a meeting with Iraqi Parliament Speaker Mohammed Al-Halbousi in Baghdad on Monday, attended by the chairmen of the Iraqi parliamentary factions, Zarif […]

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 […]