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Austrian Company signs Study Deal with IDRO

The Industrial Development & Renovation Organization of Iran (IDRO Group) has signed a deal with Austria’s HOT Engineering for carrying out studies on Susangerd Oilfield in Iran. The group had previously signed a cooperation deal with the National Iranian Oil Company (NIOC) for developing the field. The document entails putting together a master development plan […]

Venezuela Eager for Energy Ties with Iran

President of Venezuela Nicolas Maduro called for closer cooperation with Iran by strengthening partnership in the energy industry. Cooperation between the Iranian and Venezuelan oil and gas companies could pave the way for the enhancement of bilateral ties between Tehran and Caracas, Maduro said in a meeting with Iranian First Vice-President Eshaq Jahangiri on Friday […]

How Iran is Winning game of chess in Kirkuk

By Fazel Hawramy for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  For now, Prime Minister Haider al-Abadi has pushed the separatist Kurds back and extended the power of the federal government once again to the areas considered disputed under the […]

Pergas Submits Proposal for Developing Irans Karanj Oilfield

Pergas Consortium, a group of international oil and gas companies, submitted its development proposals for Karanj Oilfield, a reservoir in Khuzestan Province. Bijan Alipour, managing director of the National Iranian South Oil Company, made the statement on the sidelines of a meeting with Pergas officials, including Colin Rowley, in Tehran on Tuesday, the National Iranian […]

Iran sees Challenge of Kurdish Referendum as Opportunity

By Ali Hashem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Up until the last day before the Sept. 25 Kurdish independence referendum, Iran was still dealing with the event with a sense of disbelief and with the misconception that it would be called off […]

Iranians rail against Apple, Google over pulling of Apps

By Holly Dagres, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Imagine trying to hail an Uber on a street corner only for the Uber app on your iPhone to suddenly stop working. That’s what happened to some Iranians when Apple pulled Snapp, a popular […]

Iran, Turkey move to re-establish Role as Regional Backbone

By Ali Hashem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran and Turkey are among the oldest rivals in the Middle East. This rivalry between the former Ottoman and Persian empires has calmed in recent decades, yet, with the spark of the Arab Spring, the two […]

Iranians find shortcut to EU visas

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. Iranians who wish to travel to the European Union face myriad challenges, in particular obtaining visas. Indeed, the state of political relations between Tehran and the EU states has made the visa application process […]

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Iran needs New Development Vision

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Since the end of the Iran-Iraq War in 1988, Iran’s development policies and investment plans have been formulated in so-called five-year plans (5YPs), with the first one starting in 1989. Five 5YPs have been […]

Video: Has Rouhani succeeded in reforming Iran?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Iranian President Hassan Rouhani came into power in a landslide victory in 2013 on promises of reform and social and economic progress. Although Rouhani’s administration succeeded in negotiating the 2015 nuclear deal, many […]

Why Iranian Govt’s Debt Problem isn’t going away

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. The administration of Iran’s President Hassan Rouhani made three decisions on Jan. 30 that officials say will financially shore up commercial banks until the end of the Iranian fiscal year on March 20. However, the […]

Iran to Build New Gas Export Pipeline to Iraq

By John Lee. The Planning Director of the National Iranian Gas Company (NIGC) has said that Iran has started work on the second pipeline for exports of natural gas from Iran to Iraq. Hassan Montazer Torbati (pictured) said construction of the pipeline to south Iraq had begun on a Build-Operate-Transfer (BOT) contract. The first pipeline […]

UN warns: Prisoners of Conscience at Risk of Death

Raising alarm over the health of several prisoners of conscience in Iran, who have been on a prolonged hunger strike contesting the legality of their detention, the United Nations expert on the human rights situation there urged the authorities to “immediately and unconditionally” release all those who have been arbitrarily arrested, detained and prosecuted for […]

Heavy Fines for Illegal Moneychangers

By John Lee. Financial Tribune reports that many illegal bureaux de change in Iran have received heavy fines. The director general for banking regulations, licensing and anti-money laundering at the Central Bank of Iran (CBI), Abdolmahdi Arjomandnejad, said: “The authorities have taken legal measures against those who fail to obtain licenses for their currency exchange […]

Why does Rouhani suddenly want to ‘rename’ Iran’s Currency?

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. The Iranian government’s passing of a bill on Dec. 7 to change the national currency unit from the rial to the toman — equivalent to 10 rials — has triggered charges that the administration had […]

Iran Invited to Invest in Kyrgyzstan Hydropower Plants

Kyrgyzstan’s National Energy Holding Company has urged Iran to invest in Upper Naryn Cascade hydropower plants, Kambar-Ata-1 HPP, the company said on Friday. Officials of the company said during a Kyrgyzstan-Iran business forum on Friday that Iran has been invited to invest in construction of the power plants. Kyrgyzstan’s hydropower capacity is estimated at 142 […]

Indonesia’s Pertamina to Import LPG from Iran in 2017

Indonesia’s Pertamina said the energy company is expected to sign an agreement to import Iranian liquefied petroleum gas (LPG) in 2017. “It is highly likely we will import again from the National Iranian Oil Company,” Pertamina spokeswoman Wianda Pusponegoro told reporters, according to Reuters. Pertamina plans to import up to 12 cargoes, each of which […]

How Trump can deal with Iran-GCC Conflict

While many aspects of President-elect Donald Trump’s foreign policy beliefs were murky on the campaign trail, one overarching theme stood out: that the United States has done far too much to underwrite free-riding allies the world over. “Our allies must contribute toward the financial, political and human costs of our tremendous security burden,” Trump declared […]

Iran Has No Intention to Cap Oil Output: Oil Minister

Iranian Oil Minister Bijan Namdar Zanganeh said Iran has no plans to freeze its oil production at current levels. “It’s not our agenda to reach agreement in these two days,” Zanganeh told Bloomberg Television in an interview Tuesday. The Iranian oil minister is attending an informal meeting underway between members of the Organization of the […]

Austria’s OeKB Increases Iran Trade Financing

By John Lee. The Central Bank of Iran (CBI) says Austrian export credit agency OeKB has raised its cover for Iran transactions from 280 million euros to 1 billion euros. The announcement by Austrian Minister for Finance Hans Jörg Schelling (pictured) came during a meeting with CBI Governor Valiollah Seif in Vienna. Schelling said his […]