Ministers Secretly Warn PM on Economy, but Why?

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Four ministers from the administration wrote a letter to President Hassan Rouhani (pictured) warning him that Iran’s economic situation could turn into a “condition of crisis” that would take many years to recover from. […]

Spanish Firms Considering Projects in Iran

IRNA reports that Spanish companies have begun analyzing tenders for participation in infrastructure and development projects in Iran to be implemented in the course of the next year. According to Spainish political daily The Diplomat, Iranian officials have declared the country’s readiness for partnership with foreign firms in 121 infrastructure and development projects worth more […]

Iran to Supply Water Treatment Materials to Iraq

By John Lee. Iraq‘s Ministry of Construction and Housing and Public Municipalities is reported to be about to sign a contract worth 10 billion Iraqi dinars ($8.6 million; 260 billion Iranian rials) with an Iranian company to buy chlorine and alum for water purification. Tariq al-Kikhany said that in view of the cholera epidemic that […]

Molaie Appointed Iranian Ambassador to Austria

Ebadollah Molaie has been appointed Iranian Ambassador to Austria, the Iranian Foreign Ministry said on Monday. The appointment proposed by Foreign Minister Mohammad-Javad Zarif and approved by President Hassan Rouhani. Moalie has a PhD in Politics, and served as deputy Iranian ambassador to Berlin, Director-General of Foreign Ministry’s Department of North and East Europe, Advisor […]

Can Iran Shield its Embattled Auto Sector?

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. Last week, a group of lawmakers from the Iranian parliament’s Industries and Mines Commission introduced a motion to further raise import duties on passenger cars. The underlying assumption is that Iran’s 48-year-old auto industry […]

French Companies Eye Iranian Market

Senior officials from more than 150 French companies visited Tehran recently to discussed investment prospects in oil, gas and other sectors. Eric Festa, the director general of Total E&P Iran, said that the company currently has to comply with international sanctions on Iran, but told Iran Daily: “Following the lifting of the embargoes, we will […]

Iran to Buy 500 New Passenger Planes

By John Lee. Iran’s Minister for Roads and Urban Development, Abbas Akhoundi (pictured), has said that Iran plans to buy 500 new passenger planes by the end of 2016. He told reporters that negotiations with top aircraft companies are already underway. (Source: IRNA)

Iran to Build 2nd Oil, Gas Export Terminal in Jask

The Secretary of the Supreme Council of Iran’s Free Trade, Industrial, and Special Economic Zones said the country’s second terminal for exporting oil and gas after the Kharq Island in the Persian Gulf will be constructed in the Jask port, southern Hormozgan province. Introducing the government’s plans to develop the coastal strip of Makran along […]

No Plan for Foreign Investment at S Azadegan

An official in the Petroleum Engineering and Development Company (PEDEC) said Iran has no plan, for the moment, to delegate development of its rich South Azadegan oil field to foreign contractors. “Domestic firms are busy with the projects,” Mahmoud Marashi (pictured), contractor of the field’s development, told Shana. “We will do our best to achieve […]

Iran Invites Foreign Firms to Develop Oil and Gas

By John Lee. Iran’s deputy Oil Minister has said that the country is inviting foreign investors to actively develop its energy industry after the expected easing of sanctions. Rokneddin Javadi (pictured) told Reuters: “We welcome all oil companies, including the Americans, that meet Islamic Republic’s requirements to invest in Iran. We welcome competition among foreign […]

Senergy Working on Oil Deals despite Sanctions

Iran’s Research Institute of Petroleum Industry (RIPI) quotes a representative of the Britiah company LR Senergy as saying that the company has been active in Iran despite the western sanctions, and is in the process of signing new contracts. “We are in the process of signing agreements. The current sanctions regime does not stop us […]

European Unis Link with Iran Energy Research

The Research Institute of Petroleum Industry (RIPI) and DBUII consortium of universities will discuss prospects of research cooperation on the sidelines of the Second International Conference on Technological Opportunities (ICTO) in Oil and Gas Industry which opens in Tehran this week. DBUII, comprising TU-Delft University of Technology in Netherlands, Bergen University in Norway, Ultrecht University […]

Progress at South Pars Phase 19

The operator of the Phase 19 development of South Pars gas field has said that the SPD 19C platform of the phase is now complete, and 500 million cubic feet/day of sweet gas will be supplied to the national gas network to meet domestic demand. The 19C platform can recover one billion cubic feet of […]

$8bn Profit Waiting Iran’s Foreign Investors

President of the Research Institute of Petroleum Industry (RIPI) said international firms and investors will turn a profit of 8 billion dollars after removal of the sanctions against Iran. “It is estimated that with implementation of the (nuclear) Joint Comprehensive Plan of Action (JCPOA), a market worth 8 billion dollars will be before international firms […]

Iran Cabinet Passes New Oil, Gas Contracts Bill

The Iranian cabinet approved the Petroleum Ministry’s draft international contracts by endorsing the general terms, organization, and pattern of the new upstream oil and gas documents introduced as Iran Petroleum Contract (IPC). Increasing of oil and gas production capacity especially in joint fields, adoption of modern procedures, signing contracts with authorized companies in exploration, development, […]

US Firms ‘Likely to Attend’ Oil Contracts Conference

The Managing Director of the National Iranian Oil Company (NIOC) said the US companies are likely to take part in the upcoming conference to unveil Iran’s new oil contracts in Tehran. “There is no clear picture about their participation, but the chance can’t be ruled out,” Rokneddin Javadi (pictured) told Shana. “The government has laid […]

Malaysia’s Petronas Visits Iran

Experts and managers from the Iranian Central Oil Fields Company (ICOFC) and Malaysian oil and gas company Petronas met on Wednesday to exchange ideas and share experiences. The visiting Malaysian delegation presented its experience in the international markets after which participants discussed organizational, training and management procedures. Building on bilateral relations between Iran and Malaysia, […]

Major Diplomatic Spat between Iran and Bahrain

Bahrain has recalled its ambassador from Iran on Thursday, and ordered Tehran’s envoy to leave within 72 hours. In a strongly-worded statement, the Bahraini Foreign Ministry said the decision was made “in view of [Iran’s] evil attempts and practices through which it aims to fuel sectarian sedition and impose its hegemony on the entire region”. […]

What Rouhani’s done to Fight Corruption

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. There has been a lot of talk in Iran about fighting administrative and financial corruption over the past decade. Yet, corruption has not diminished. Rather, the phenomenon has continued to plague the Iranian economy. […]

Iran Khodro Exports Break Records

By John Lee. Iranian vehicle maker Iran Khodro (IKCO) has exported over 6,000 vehicles to the international markets in the first half of the current Persian calendar year surpassing the car manufacturer’s export record throughout last year. IKCO ‘s Deputy for Export and International Department, Saeed Tafazzoli said IKCO’s main foreign site is located in […]