Tag Archives | India

India’s NALCO puts Iran Project on hold

By John Lee. India’s National Aluminium Company Ltd (NALCO) has put its overseas projects on hold in order to focus on expanding domestic capacity. The company signed a memorandum of understanding (MoU) with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) last year to explore the possibility of setting up a joint […]

Iran Signed Deal with Gazprom over Farzad B

Iran has signed a basic agreement with Russia’s energy giant Gazprom over the development of Farzad B gas field – a project which the country has for long been negotiating with an Indian consortium. The announcement over Farzad B agreement was made by Iran’s Petroleum Minister Bijan Zanganeh. Zanganeh said in an interview with Argus […]

Talks on Iran’s EEU Membership to Conclude Soon

Timur Suleimenov, Kazakhstan’s minister of economy, said the Eurasian Economic Union (EEU) would finalize talks with Iran over the country’s membership to the union by the end of 2017. “We believe we can come up with something substantial by the end of the year . . . finished talks,” Suleimenov told the Financial Times on […]

Iran Urges Removal of Trade Barriers with India

Iranian Foreign Minister Mohammad Javad Zarif called for efforts to remove the obstacles to trade and banking ties with India. In a meeting with Foreign Secretary of India Subrahmanyam Jaishankar in Tehran, Foreign Minister Zarif expressed the hope for closer relations between Iran and India in light of the history of their mutual cooperation and […]

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Iran Increases Asphalt Production, Seeks Shippers

By John Lee. Iran’s biggest asphalt producer is reported to be planning to boost output by almost 15 percent in the next two years. According to a report from Bloomberg, Hormoz Pasargad Bitumen Products Co. intends to send the increased supply to overseas buyers led by India and the United Arab Emirates (UAE). Managing Director […]

India Seeking to Stop Urea Imports from Iran

Dharam Pal, the joint secretary at India’s department of fertilizer, said the South Asian country plans to boost its urea production in an attempt to revive loss-making factories and end imports from several countries, including Iran. “We are in the process of reviving ailing plants, restart closed units, expand existing projects and build new ones,” […]

Iran Eyes Becoming Regional Hub of Nuclear Medicine

A target at the top of the agenda of the Atomic Energy Organization of Iran (AEOI) is to turn the country into the region’s hub for production of nuclear medicine, Iran’s top nuclear official announced. Addressing a ceremony to mark the National Nuclear Technology Day in Tehran on Sunday, Head of AEOI Ali Akbar Salehi […]

Major Indian Investment in Farzad B Gas Field

Indian state-owned oil company ONGC Videsh plans to invest more than $3 billion to develop Iran’s Farzad B gas field in the Persian Gulf, a report said. ONGC Videsh last month submitted a revised plan to the Iranian government for the field, which the company will be able to develop within five years, Managing Director […]

Plant Eyes Europe as Future Market for MEG Output

Morvarid Petrochemical Plant, a supplier of monoethylene glycol (MEG) in Iran, is planning to expand its export markets to Europe and India. The plant’s managing director, Gholamreza Jokar, said the previous calendar year which ended on March 20 was a favorable year for his company as it bolstered activities at its MEG unit and could […]

India Seeking New Payment Mechanism for Iran Trade

India is exploring setting up a new payments mechanism for trade with Iran, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo. Under previous Western sanctions, India had devised a barter-like scheme acceptable to Washington that allowed it to make some oil payments to […]