Tag Archives | Japan

Renault Will Not Leave Iran in Face of More US Sanctions

Carlos Ghosn, Chairman and CEO of the Renault-Nissan Alliance, said the French carmaker would not “leave Iran” even if Washington re-imposed new sanctions against Tehran. “Obviously if it becomes impossible to deal with Iran we will put a plan together for the suspension of our business there, but that’s not at all to say that […]

Japan Opens Letter of Credit for Methanol Project

Japan is planning to open letters of credit worth up to €230 million for construction of Iran’s Apadana Persian Gulf Petrochemical Plant, which will need 462 million euros in finances for completion, the plant’s managing director says. Touraj Arounaqhi said a portion of the required investment will be supplied by Japanese companies to Persian Gulf […]

Iran Sees Japan as Strong Trade Partner

Iranian Foreign Minister Mohammad Javad Zarif hailed the recent agreements signed with Japan, saying the two countries can forge a strong political and economic partnership given the high level of security and stability in Iran. The Iranian foreign minister and the Japanese prime minister’s envoy, Masahiko Komura, discussed a range of issues in a meeting […]

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Possible Japan Budget Hike to Tap Iran Oil Opportunities

An official with Japan’s Ministry of Economy, Trade and Industry (METI) has requested an 11% hike in its budget for acquiring exploration and upstream development-stage assets in fiscal 2018-19 as the country is looking at oil opportunities in Iran, a ministry official said. The official said that METI has asked for a $552.8 million budget […]

Inpex to Return to Azadegan Oil Field?

Japan’s biggest oil and gas explorer Inpex Corp might participate in a tender to develop the Azadegan oil field in southwestern Iran and form a consortium with other foreign oil firms to that end, a high-ranking Iranian official said. If Inpex gets involved in the Azadegan again — after giving up its stake in the […]

Japanese FM Calls for Closer Tehran-Tokyo Economic Ties

Japanese Foreign Minister Taro Kono underscored the importance of enhanced bilateral relations between Tehran and Tokyo in various fields, economy in particular, following the removal of anti-Tehran sanctions. Japan’s policy towards the Islamic Republic continues to be based on the development of all-out ties with Tehran, Kono said in a meeting with Iran’s Deputy Foreign […]

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Mitsubishi to Introduce Hybrid Electric Cars to Iran

Japan’s Mitsubishi Motors will introduce the plug-in-hybrid version of its Outlander sport utility vehicle to the Iranian market as early as fall, a report said. The redesigned Outlander, which curbs use of the conventional engine in favor of the twin electric motors, will be built in Japan and shipped to Iran, according to the report […]

NIOC Inks MoU with Toyo, Petropars

The National Iranian Oil Company (NIOC) has signed a memorandum of understanding (MoU) with a consortium comprising Japan’s engineering major Toyo and Petropars Company for rehabilitation of facilities and upgrading of gas production of Salman Oilfield. Signed on Monday, the document was inked by Gholamreza Manouchehri, deputy for development and engineering at NIOC, Hamid Akbari, […]

Iran Petchem Holding Talks with Japan for Tech Transfer

Iran’s Parsian Oil & Gas Development Group Co. (PODGC) is holding talks with a Japanese company for receiving the technical savvy for production of ethylene glycol from natural gas, PODGC director said. Mohammad Ebrahim Yousef Zadeh said the item is produced based on ethylene which is a pretty costly raw material for ethylene glycol production. […]

Iran to Enhance Tourism Ties with East Asians

Iran is going to hold talks with Japan, South Korea and China to facilitate tourism, a vice president said. The country is contemplating easing visa restrictions for tourist trips to Japan, South Korea, and China, Head of Iran’s Cultural Heritage, Handicrafts and Tourism Organization Zahra Ahmadipour told Tasnim. Delegations from the three countries are scheduled […]

Inpex Considers Bidding to Develop Iranian Oil Field

Inpex, Japan’s largest upstream company, announced that it plans to bid in a tender recently launched by Iran to develop the country’s Azadegan oil field. “Inpex is in the process of gathering information and conducting updates as necessary. Inpex will consider its response once the tender is published and the terms and conditions pertaining to […]

NIOC signs $615m Deal with Tubacex

By John Lee. The National Iranian Oil Company (NIOC) has signed Iran’s first oil contract of the post-sanctions era with an international consortium comprising Spain’s Tubacex and Iran’s Isfahan Steel Company [Foolad Isfahan Company]. Associated Press reports that the deal worth US$615 million, and says the Spanish-Iranian consortium will provide oil pipes for a network […]

European, Asian Firms “Ready to Fund Iran’s Plane Purchases”

Iran’s Deputy Minister of Road and Urban Development for International Affairs Asghar Fakhrieh Kashan said several major institutions from Europe and Asia have expressed readiness to fund the country’s purchases of planes from global aviation giants Airbus and Boeing. Nine financial institutions from Norway, Denmark, Ireland, Britain, China and Japan are ready to fund the […]

Mitsubishi Eyes Broader Work in Iran

Japan’s Mitsubishi is making efforts to broaden its activities in Iran, a top official with the company said. Kiyoshi Kiyokawa of Mitsubishi Chemicals said the Japanese firm would also enhance its interaction with its present customers in Iran. He said his company was attending Iran’s ongoing oil show in order to broaden its activities in […]

PGPIC, ITOCHU ink Polyethylene Sales Deal

The Persian Gulf Petrochemical Industries Company (PGPIC) and Japan’s ITOCHU Corporation have signed a deal for sale of polyethylene to the Japanese firm. The document was signed on the sidelines of the 22nd Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show-2017) on Sunday. Based on the deal, PGPIC will supply international markets […]

Japanese Grant gives hope for Recovery in Lake Urmia

New Japanese grant gives hope for sustained recovery in Lake Urmia Water – albeit thinly spread – is now covering a significant amount of the lake’s formerly dried-out surface. Much more than it was two years – or even one year – ago.  And while the lake’s biosphere is still in critical condition, there have […]

Oil Majors Present Development Plans for Iranian Oil Projects

Six international oil giants have completed their surveys and submitted plans to the National Iranian Oil Company (NIOC) for developing oil and gas reservoirs, chief executive officer of the NIOC has said. “Russia’s Lukoil, Indonesia’s Pertamina, Japan’s Inpex, French energy giant Total S.A. and Denmark’s Maersk Group are among the majors which have provided NIOC […]

IRISL signs MOU with Kamigumi, Suzue

By John Lee The Islamic Republic of Iran Shipping Lines (IRISL) has reportedly signed a memorandum of understanding with the Japanese logistics and transport companies Suzue and Kamigumi, covering the construction of dry ports in Iran and investments in Iranian ports. According to Tehran Times, the MOU will become operational after conducting the required studies and […]

Iran, Malaysia Agree to Trade in Yen, Yuan

Iran and Malaysia have agreed to use Japanese yen and Chinese yuan in their bilateral trade, a senior Iranian banking official said. We welcome the eagerness of Malaysian banks to open accounts in Iranian commercial banks in the South Asian country’s currency, Ringgit, Deputy Governor of the Central Bank of Iran (CBI) for Currency Affairs […]

Japan, Iran to Cooperate on Banking

Japan’s Financial Services Agency (FSA) has reached an agreement on banking supervision with the Central Bank of Iran (CBI). An exchange of letters between the two bodies is intended to facilitate supervision and sound functioning of banking organizations in their respective countries. Under the agreement, the authorities will provide relevant information to their counterpart regarding […]