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Iran signs Development of Esfandiar Oilfield

The Iranian Offshore Oil Company (IOOC) and a Norwegian-Austrian company have signed a preliminary agreement for the development of the offshore Efandiar field, IOOC Managing Director Saeed Hafezi [Saeid Ha’fezi] (pictured) says. “The initial confidentiality agreement has been signed, the MDP (master development plan) prepared and sufficient data exchanged. We are only waiting for the […]

China to Incorporate Iran’s Nanotechnology

The Iran Nanotechnology Initiative Council (INIC) has opened an office in the Chinese city of Suzhou, with the aim of strengthening its communications with China in the field of nanotechnology. INIC Secretary General, Saeed Sarkar (pictured), said “we will be able to offer our nano-products to the world through China”, and that he hoped to […]

Iran wants Long Term Contracts with China

Iran’s First Vice-President, Eshaq Jahangiri, said on Tuesday that Iran was prepared to boost cooperation with China in the energy sector. In a meeting in Tehran with Zhang Yi, the head of China’s State-owned Assets Supervision and Administration Commission (SASAC), he added that Tehran is ready to sign long term contracts in the oil and […]

Will Boycott Stifle Iran’s Auto Industry?

By a Correspondent in Tehran, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will boycott campaign put the brakes on Iran’s auto industry? Just as Iranian authorities are preparing for a post-sanctions economic revival, another problem has emerged. A group of Iranian citizens has launched […]

Iran, Iraq to Boost Trade

By John Lee. Iranian Economy Minister Ali Tayyebnia said that trade between Iran and Iraq is currently estimated at $12 billion when transit and tourism are taken into account, and that Tehran and Baghdad expect to increase the figure to $20 billion in the near future. The statement followed a meeting with Iraqi Finance Minister […]

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Russia, Iran to Sign S-300 Contract Soon

By John Lee. Russia and Iran will sign an agreement for the delivery of advanced Russian-built S-300 anti-aircraft missile systems “soon,” Russian Deputy Foreign Minister Sergei Ryabkov reportedly said on Wednesday at the Russian Arms Expo 2015. He added that all political questions involved in the Iran S-300 deal have been solved, a possible reference […]

4 More US Senators Back Iran Deal

By John Lee. Four US Democratic senators announced on Tuesday that they would back President Obama’s nuclear deal with Iran. This would give Obama enough votes to ensure that he would not be forced to veto a Republican resolution disapproving the accord. The four senators are Richard Blumenthal of Connecticut, Maria Cantwell of Washington, Gary […]

Iran Needs up to 400 New Planes

By John Lee. Iran’s Transport Minister, Abbas Akhoundi (pictured), has estimated that the country could need 400 new planes. According to the report from CNN, Airbus and Boeing are in negotiations to rebuild the Iranian air fleet. Mohammad Khodakarami, director of Iran’s Civil Aviation Organization, said: “We have an active fleet of only 150 and […]

German Firm to Fund Iranian Wind Farm

By John Lee. A German-Iranian company has reportedly signed an agreement to build a 48-megawatt wind farm in southwestern Iran. Development Environment Arvand Company will fund the 40-million-euros ($46-million) project in the Arvand Free Trade Zone in Iran’s Khuzestan province. Project Manager Frank Riesbeck told Bloomberg that turbine shipments are due to begin in January, […]