Iraq gives Iranians Visas Free of Charge

Iraq has begun issuing entry visa for Iranians free of charge in a reciprocal move under a deal. Iranians travelling to Iraq can now obtain visa free of charge. The Iraqi cabinet of ministers said the decision that took effect on April 1 has been made as a reciprocal move which had been agreed upon […]

Iran “ready to Expand Gas, Power Trade with Iraq”

President Hassan Rouhani has called for Iran and neighbouring Iraq to expand their gas and electricity dealings and boost bilateral trade to $20 billion, state TV reported, despite difficulties caused by US sanctions against Tehran. “The plans to export electricity and gas and hopefully oil continue and we are ready to expand these contacts not […]

Zangeneh Appoints Deputy for Research, Technology

Iranian Minister of Petroleum Bijan Zangeneh issued a decree appointing Saeid Mohammad Zadeh as his deputy for engineering, research and technology affairs, replacing Habibollah Bitaraf. By entrusting Mr. Mohammad Zadeh with the post, Mr. Zangeneh delegated a number of tasks to his new research deputy including developing technological relations with universities and research centers in […]

Iran, Iraq agree on Development of Joint Oilfields

Iran and Iraq have reached an understanding on the joint development of the Naft Shahr and Khorramshahr oilfields, Iranian Minister of Petroleum Bijan Zangeneh has announced. Speaking on Sunday, during a visit to the Energy Industries Engineering and Design (EIED), an affiliate to the Oil Industries’ Engineering and Construction (OIEC), the official said: “There are […]

Blockchain Startup could Transform Traffic in Iran

By Maziar Motamedi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. How this Blockchain Startup could help people Transform Traffic in Iran As the transportation industry continues to grow around the globe, traffic congestion remains as one of the most significant, largely unresolved issues of […]

US labels IRGC as Terrorists

Today, the US Secretary of State Mike Pompeo (pictured) has announced his intent to designate the Islamic Revolutionary Guard Corps (IRGC), including its Qods Force, as a Foreign Terrorist Organization (FTO) under section 219 of the Immigration and Nationality Act. This designation is a historic step to counter Iran-backed terrorism around the world. The IRGC […]

Nokia may Reduce its Iran Business

By John Lee. Finnish telecom equipment maker Nokia has said it may have to reduce its business in Iran due to the reimposition of US sanctions. In a statement to the markets, the company said: “We continuously monitor international developments and assess the appropriateness of our presence and business in various markets. “The US’ unilateral […]

Will Iraq lose Shatt al-Arab to Iran?

By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will Iraq lose its benefits from Shatt al-Arab River to Iran? Iranian President Hassan Rouhani visited Baghdad March 11 to endorse the two countries’ renewed commitment to the 1975 Algiers Agreement regarding the shared border […]

Iraq “Needs to Buy Iranian Electricity for 3 Yrs”

Iraqi Parliament Speaker Mohammed al-Halbusi said he hopes the United States will keep waiving sanctions on energy imports from neighboring Iran, noting that the Arab country will need to purchase electricity from the Islamic Republic for three years. In November last year, Washington granted a 45-day waiver on electricity to the Arab country and extended […]

Iran GDP Shrinking

By John Lee. A new report from the World Bank Group forecasts real GDP growth (at constant market prices) of -1.6 percent for the year to the end of March 2019 in Iran, falling further to -3.8 percent next year: Economic growth in Iran continued to slowdown in the first quarter of 2018/19 (April-June) as […]

Floods: Evacuation of 70 Villages

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The Iranian government has ordered the evacuation of 70 villages threatened by flooding. A state of emergency has been declared in many southern provinces. Al Jazeera’s Raheela Mahomed reports:

New Career Opportunities in Iran

By John Lee. The United Nations has advertised new jobs in Iran: Adviser (Trafficking in Persons and Smuggling of Migrants), UNODC – Office on Drugs and Crime GIS and Remote Sensing, FAO – Food and Agriculture Organization of the United Nations LFS Project Manager, Norwegian Refugee Council (NRC) Monitoring & Evaluation Assistant , Norwegian Refugee Council […]

US Disrupts IRGC Front Company Network

United States Disrupts Large Scale Front Company Network Transferring Hundreds of Millions of Dollars and Euros to the IRGC and Iran’s Ministry of Defense Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against 25 individuals and entities, including a network of Iran, UAE, and Turkey-based front companies, that have transferred over a billion dollars and euros to the Islamic […]

New Sanctions on Entities linked to Iran Nuclear Weapons Effort

U.S. Government Sanctions Organizations and Individuals in Connection with an Iranian Defense Entity Linked to Iran’s Previous Nuclear Weapons Effort The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), together with the U.S. Department of State, designated 14 individuals and 17 entities today in connection with Iran’s Organization of Defensive Innovation and […]

PEDEC Outlines Priorities

The CEO of Petroleum Engineering and Development Company (PEDEC) outlined the company’s priorities in the new Iranian calendar year which starts on March 21. According to PEDEC, Touraj Dehghani said accelerating the development of joint oil fields was top on PEDEC’s agenda in the new Iranian year. He said: “This year, given the special conditions […]

South Pars Gas Output to Hit 750 mcm by Late 2019

Iranian Minister of Petroleum Bijan Zangeneh said the country’s gas production capacity from the supergiant South Pars gas field would cross 750 million cubic meters per day by late 2019. Addressing a ceremony to officially launch phases 13 and 22-24 of the major joint gas field, that was held in the presence of the Iranian […]

Iran Launches New Phases of South Pars Gas Field

Iran’s president inaugurated four new phases of the large South Pars gas field in the southern province of Bushehr on Sunday. Accompanied by the minister of oil and other top officials, President Hassan Rouhani inaugurated the phases 13, 22, 23 and 24 of the South Pars gas field. Each of the new phases has a […]

Iran sitting on 200 Undeveloped Oil/Gas Reservoirs

There are currently over 200 undeveloped oil and gas reservoirs in Iran, an official has said. According to the National Iranian Oil Company (NIOC), Director of NIOC’s Integrated Planning Karim Zobeidi said that a total of 42.4% of Iran’s oil reservoirs and 10% of the gas reservoirs have been depleted so far. Speaking on Monday […]

Iran’s Non-Oil Exports Hit $40bn in 11 Mths

The head of Iran’s Trade Promotion Organization (TPO) announced that the country’s non-oil exports over the first 11 months of the current Iranian year (March 21, 2018 – March 20, 2019) have reached 40 billion dollars. Speaking to the Islamic Republic of Iran Broadcasting (IRIB) on Thursday night, Mohammad Reza Moudoudi said the non-oil exports […]

Tehran’s Quality of Living Ranking …

By John Lee. Tehran has been ranked in 199th place in the Mercer 2019 Quality of Living Survey. This puts it just ahead of Karachi in Pakistan and Caracas in Venezuela, and just behind Luanda in Angola and Dar es Salaam in Tanzania. Vienna again retains the top spot; Zurich and Vancouver follow in second […]