Tag Archives | featured

UN Concerned by Rising Number of Executions in Iran

Expressing his “deep sadness” at the recent execution by Iran of two juvenile offenders, United Nations Secretary-General Ban Ki-moon today noted with concern the alarming increase in executions in the country over the last decade. “Over 700 executions are reported to have taken place so far this year, including at least 40 public, marking the […]

Prague ready to Invest in Infrastructure Projects

The Charge d’Affaires of the Czech Republic to Iran, Peter Stephen, has said that Czech investors and companies are ready to undertake development and infrastructural projects in the Islamic Republic. Speaking to officials in Alborz Province, Stephen said the lifting of economic sanctions against Iran will bring more Czech companies to the country. The Czech […]

Japanese Firms want Increased Ties with Iran

The Japanese Foreign Minister Fumio Kishida (pictured) has said that there are an increasing number of Japanese companies which want to resume cooperation with Iran’s oil firms in the post-sanction era. “Today, we exchanged views on expansion of economic ties,” he told Shana following a meeting with Iranian Petroleum Minister Bijan Zangeneh during which they […]

NPC, Mitsubishi Discuss Petchem Ventures

Iran’s Deputy Petroleum Minister for Petrochemical Industry Abbas Shari-Moqaddam [Abbas Shari Moghadam], and the Senior Executive Vice President of Mitsubishi Corporation’s Chemical Group, Takahisa Miyauchi, exchanged views on the possibility of the Japanese firm’s participation in Iran’s projects. The CEO of the National Petrochemical Company (NPC) welcomed Mitsubishi’s interest in presence in Iran and said […]

Petroleum Minister Underlines Anti-Corruption Drive

The Minister of Petroleum, Bijan Zangeneh, has called for the fight against financial corruption across the country urging the ministry’s staff to be careful to provide an honest service. “Due to large amounts of monetary transactions in the oil industry, there is the possibility of corruption. The money in the oil belongs to the public […]

Rouhani Outlines Plans for Growth

President Rouhani described the new plans and policies of the government for economic growth, the most important foreign relations plans, and regional and global issues in a live television interview. “People are getting ready to show their respect to the culture of Ashura which is the culture of dignity, freedom, and resistance against injustice and […]

India Pays $700m in Iran Oil Dues

By John Lee. A group of Indian refiners has paid the second instalment of $700 million to Iran to clear part of their outstanding oil dues, according to a report from The Economic Times. Essar Oil paid $338 million, while Mangalore Refinery and Petrochemicals (MRPL) remitted $299 million, IOCBSE paid another $60 million, and Hindustan Petroleum […]

Canadians Accused of Exporting Rail Equipment to Iran

By John Lee. Two Canadians accused of illegally selling railway equipment to Iran appeared in court in Montreal on Wednesday. Michael Allen (67) and Hugo Dreckmann (75) were ordered to return to court on 19th February, 2016. The two, directors of Romic Marc Rail, are accused of illegally exporting nearly $10 million worth of American-made railway equipment to Iran, […]

Video: Iran Reveals Underground Missile Bunkers

From PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. This is the first time Iranian media are allowed there. Military officials say the tunnels are dug some 500 meters into high mountains. The Commander of Aerospace Force of Iran’s Islamic Revolution Guards Corps […]

Jet Engine Falls Off during Iran Flight

By John Lee. AFP reports that a Boeing 747 operated by Iran’s Mahan Air lost an engine shortly after takeoff from Tehran on Thursday. The flight, with 300 passengers on board, was destined for Bandar Abbas in southern Iran when one of its engines crashed into a nearby field, forcing the jumbo to return and […]

Iran to Launch over 50 New Oil Projects

Iran says it plans to introduce more than 50 new oil projects to international investors in what will be a key part of the country’s plans to boost oil production in an emerging post-sanctions era. Seyed Mehdi Hosseini, head of Iran’s Oil Contracts Restructuring Committee, has emphasized that the projects will comprise exploration and production […]

Kuwait may Import Gas from Iran

By John Lee. The Chief Executive of the Kuwait Petroleum Corporation (KPC) has said that his company has conducted negotiations with both Iran and Iraq to import gas. Nizar Al-Adsani (pictured) said in a statement: “Kuwait is in need of gas for power plants … [but] up until now we have not agreed on the […]

World’s Biggest Tour Firm Eyes Iran

By John Lee. Germany’s TUI Group, the world’s largest leisure, travel and tourism company, is reported to be considering investment in Iran. The minister of economic affairs, labor and transport for the federal state of Lower Saxony in Germany, Olaf Lies, told PressTV that preliminary negotiations have been held for the multinational tour operator to […]

Thailand to Assemble Toyotas for Iran

Toyota has announced that it will begin shipping cars to Iran from its assembly facilities in Thailand. Local press reports say that the Japanese auto maker will begin exporting fully-built vehicles to Iran in the coming weeks. It has not been announced which vehicles will be shipped from Thailand. (Source: Financial Tribune)

Iranian Parliament backs Nuclear Deal

Iran’s parliament has approved the deal on its nuclear programme. The official IRNA news agency said the deal was passed with 161 votes in favour, 59 against and 13 abstentions. However, parliament insisted that international inspectors would have only limited access to military sites. The Joint Comprehensive Plan of Action (JCPOA), finalised in July after […]

Extra Drilling Rigs to Boost South Azadegan

Twelve more drilling rigs will be added to the existing giant towers in the South Pars oil field in southern Iran upon signing of contracts with domestic and foreign firms, said an official in the Petroleum Engineering and Development Company (PEDEC). “The equipment will be installed by yearend. In the meantime, we expect activities to […]

British, Japanese Insurers visit Iran

The Chairman and CEO of the Iran Insurance Company has hosted representatives of the British United Insurance Brokers (UIB) and Japanese insurer, Sompo. The purpose of the meeting was to increase the level of interaction in the post-sanctions era, to develop reinsurance, to provide reinsurance coverage requirements, and to improve the coverage especially in property […]

FlyBaghdad Starts Iran Flights

By John Lee. Iraq’s youngest airline, FlyBaghdad, is to start flying between Iraq and Iran, according to a report from Gulf News. The airline’s Regional Commercial Manager, Mohammad Abdali, told the news agency that the Iraqi-owned airline will start flights from Baghdad International Airport to Tehran, Isfahan and Mashhad on October 16. He added that […]

Shell Delegation in Iran for Oil Talks

A delegation from global energy giant Royal Dutch Shell is visiting Iran for talks with the country’s oil officials. The delegation, which arrived in capital Tehran on Friday , will stay in Iran for four days, the local media reported. They are also scheduled to have separate meetings with Iran’s key banks, the Iran-UK Chamber […]

Private Sector Cash to Pump Iranian Gas to Iraq

The pipeline to carry gas to Iran’s western and northwestern regions as well as exporting it to neighboring Iraq will start soon with BOT (Build-Operate-Transfer) financing from Bank Pasargad, the bank’s CEO has said. “We have increased our investment for the development of oil, gas, refining, and petrochemical industries. The contract to finance the Iraq […]