Bangladesh to set up Fertiliser Plant in Iran

The Bangladeshi government is reported to be in talks with Iran to set up a fertiliser plant in Iran. According to The Daily Star, either the state-run Bangladesh Chemical Industries Corporation (BCIC) or a private company will be asked to set up the plant through a joint venture, which is expected to manufacture 700,000-1,000,000 tonnes […]

Russia’s Rostec To Enter the Iranian Market

By John Lee. Russian state company Rostec has held talks in Tehran with a view to building technology-based partnerships with Iranian industrial companies. Products involved include Russian-built rotorcraft and aircraft engines, automated control systems and high-tech optical products. The Chief Executive Officer of Rostec, Sergei Chemezov, said: “The Iranian market is one of the most […]

IOEC, Int’l Firms in Negotiations

The Managing director of the Iranian Offshore Engineering and Construction Company (IOEC) hsa said the Iranian firm is in negotiations with foreign counterparts to launch offshore projects based on the newly introduced petroleum contract models (IPC). “IOEC will cooperate as partner or contractor with the international companies,” Gholamreza Manuochehri told Shana. “Some 30 offshore projects […]

Iran ‘Breaks US Monopoly in Oilfield Cement Plugs’

Iran’s Research Institute of Petroleum Industry (RIPI) says it has “achieved the technology to produce cementing plugs used in deep oil and gas wells, breaking the monopoly of American firms in the industry“. “The achievement to manufacture the part locally saves hard currency from being spent abroad,” said RIPI’s head of cement plug project, Talat […]

SCO to consider Full Membership for Iran

By John Lee. The Shanghai Cooperation Organization will consider Iran’s application for full membership immediately after the UN sanctions are lifted, SCO Secretary General Dmitry Mezentsev (pictured) said on Monday. He told the Russian newspaper Izvestia: “The organization wishes success to Iran in the completion of work on Iran’s nuclear program to implement as expeditiously […]

Russia likely to grant $5bn Loan to Iran

By John Lee. Sputnik reports that Russia may extend a $5-billion state export loan to Iran. Russian Industry and Trade Minister Denis Manturov (pictured) said on Tuesday: “We are talking about granting a state loan, naturally under the Iranian government’s guarantee … I think that if all formalities can be agreed upon in the first […]

Oman, Iran to Establish Joint Investment Fund

By John Lee. An Iranian delegation led by the head of the Securities and Exchange Organization (SEO) visited Oman’s Capital Market Authority (CMA) and held several meetings with Omani senior officials of the capital market to establish a joint investment fund. This fund will be a joint venture and Feeder Fund which invests in the […]

The First Gathering of Iran’s e-Business Leaders

The First Gathering of Iran’s e-Business Leaders brought together top Iranian e-Business community members including Iranian Information Technology Organization, E-Business Consortium (Founded by, Digikala, BeepTunes, Netbarg, Aparat, Akhbar Rasmi Media Agency, Anetwork Digital Media Agency, Esam,, Lavan and other high-profile figures in the field of Iran’s e-Business. At the beginning of the ceremony, Khosro […]

9-Month Gasoil Exports to Afghanistan at 133m litres

By John Lee. Iran has exported 133 million litres of gasoil to neighboring Afghanistan from Dogharoon economic zone in the 9 month since the calendar year’s start in March 20. A customs official, Mohammad Mahdi Qaraei, told Shana that 28 export companies exported 96.3 million tons of the item to Afghanistan during the same period. […]

Iran Transfers Enriched Uranium to Russia

The Head of Atomic Energy Organization of Iran (AEOI), Ali-Akbar Salehi (pictured), confirmed on Tuesday the transfer of 11,000 kg of low-enriched uranium to Russia under the July nuclear agreement. As part of the deal, “11,000 kg of enriched uranium was exchanged with 197,000 kg of yellow cake,” Salehi was quoted as saying by Tasnim […]

$40 p/b Oil Market Price for Next Year Budget

Iranian Minister of Petroleum Bijan Zangeneh (pictured) has said the government has suggested the closest figure to the current crude oil market price of around 40 dollars per barrel to draft next year’s budget (21 March 2017 – 20 March 2018). “It is not 35 dollars. So far, 40 dollars has been suggested as the […]

Minister: Iran can Join WTO in 2 Yrs

Iran’s Minister of Industries, Mines and Trade, Mohammadreza Nematzadeh, has said that he is optimistic that Iran can join the World Trade Organization (WTO) within the next two years. The country has been trying to join the WTO since 1995, and was admitted to the organization as an observer in 2005, but following the imposition […]

German Firms Offer $13bn to Iran Petchem Sector

German firms have proposed deals worth over 12 billion euros ($13 billion) for financing petrochemical projects in Iran. “Two leading German companies have indicated their interest to bankroll petrochemical projects as much as €12bn in Iran in the post-sanctions era,” said Abbas Shari-Moqaddam, managing director if National Petrochemical Company (NPC). “Given the recent international developments, […]

Next Year’s Budget based on $35-40 per Barrel

By John Lee. The Head of the Statistical Center of Iran said oil revenues for next year’s budget (21 March 2017 – 20 March 2018) have been based on a forecast of 35-to-40-dollar per barrel, with production being increased up to 2.5 million barrels per day. According to the Ministry of Petroleum, it is possible […]

Tehran Urges New Delhi to Repay Oil Debts

Officials from Iran and India held negotiations in New Delhi on bilateral crude oil transactions during which the Iranian side demanded settlement of oil sale arrears as the Indian side was willing to purchase additional quantities following removal of anti-Iran sanctions, said an official in the National Iranian Oil Company (NIOC). “Settlement of Iran’s unpaid […]

Shahr-e-Rey Power Plant to be Modernised

During a visit this week to Shahr-e-Rey, south of Tehran, President Rouhani said that 4,320bn rials ($140 million) has been allocated for 12 major projects in agriculture, industry, water and waste water, sports, and the environment, all to be completed withing the next two years. While opening the 7th Tehran water treatment plant (WTP), Dr […]

Iran Energy Sector Needs $150bn Investment

Iran’s energy sector will require an investment of $150 billion over the next five years, according to Petroleum Ministry Director General of Strategic Planning, Saied Qavampur. Sputnik quotes him as saying: “In the meantime, the private sector and foreign investors are due to fund 100 billion dollars of the projects. The rest will be financed […]

Iran to be New Skiing Destination

Iran could be the next big destination for skiers, according to a report from The Economist. The resort of Dizin (pictured), for example, has lifts that go to almost 3,600 metres (12,000 feet), and a day pass costs just $20. The country’s tourism organisation wants to boost visitor number from 4-million now to 20-million by […]

Linde Interested in Iran Petrochemical Market

German industrial gases giant Linde says it enter Iran’s petrochemical market once the country’s Joint Comprehensive Plan of Action (JCPOA) is implemented. According to a report from Shana, board member Christian Bruch (pictured) told a panel meeting at the 12th Iran Petrochemical Forum in Tehran: “Iran’s petrochemical sector, given its unparalleled potentialities, can be the […]

Iran Allocates $6bn for Petchem, Refinery Projects

The Director of Investment at Iran’s National Petrochemical Company (NPC) said the National Development Fund (NDF) has allocated 6 billion dollars for petrochemical and refinery projects. “Financing of projects from the fund will be expedited after SWIFT is back,” Amir Hassan Fallah told Shana. He said Japanese, South Korean, and European firms are interested in […]