Tag Archives | Japan

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 […]

Japan Donates $6.9m to Iranian Projects

The Government of Japan has allocated $6.9 million to five projects in Iran. The assistance, aimed at building a “tolerant and stable society” in the region, will go to the following projects over the next five years: United Nations Development Programme (UNDP): $1 million towards the restoration of Lake Urmia “via local community participation in […]

Shell, Total likely to cooperate on Azadegan Oilfield

By John Lee. Mehr News Agency reports that Britain’s Shell and France’s Total are likely to form a consortium with an Iranian company to develop the Azadegan oilfield (pictured). An official at Iran’s Petroleum Engineering and Development Company (PEDEC) says the National Iranian Oil Company (NIOC) has so far signed four MoUs or confidentiality agreements […]

Iran in Talks with Japan to Optimize Oil Refining

Iran is finalizing negotiations with two major Japanese companies to improve the efficiency of Tehran’s aging refineries, an official announced. In an interview with Tasnim, Abbas Kazemi, managing director of the National Iranian Oil Refining and Distribution Company (NIORDC), said Iran has been in talks with Japanese and South Korean companies to optimize oil refining […]

Iran to Launch First New-Style Oil Tender in 4 Wks

A senior Iranian oil official announced that the development of a big oilfield in the southwestern province of Khuzestan will be put to tender for the first time under a new model of oil contracts, known as Iran Petroleum Contract (IPC), within up to four coming weeks. The project to develop South Azadegan oilfield, would […]

Japan’s Inpex to Study Major Iranian Oil Field

Inpex Corporation, Japan’s top energy developer, has signed a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) to carry out studies on the development of the South Azadegan oil field, located in the southwestern province of Khouzestan, a report said. Inpex is a strong candidate for the project after signing an MoU […]

Iran Approves 29 Int’l Companies for Oil Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. According to the report by the oil ministry’s news website Shana, 29 companies, including Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies […]

FMs Consider Renovating Power Plants with Japanese Loan

Foreign ministers of Iran and Japan have discussed plans for renovation of two thermal power plants in Iran, to be financed by Japan. Speaking at a joint press conference with his Iranian counterpart in Tokyo on Wednesday, Japan’s Foreign Minister Fumio Kishida said negotiations have been held on renovation of two thermal power plants in […]

Iranian Dam Threatens Iraqi Kurdistan’s Sirwan River

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian Dam Threatens Iraqi Kurdistan’s Legendary Sirwan River When neighbouring Iran tested their new dam recently, levels on an important Iraqi Kurdish river dropped four meters. Locals fear when the […]

Japanese Businesses assured Safe Investment in Iran

Iran’s Foreign Minister Mohammad Javad Zarif provided Japanese business people and merchants with reasons why Iran is a perfectly safe place for investment. The top Iranian diplomat, who is in Japan on the final leg of an Asian tour, attended a meeting of Iranian and Japanese business people in Tokyo’s Hotel Okura on Wednesday. Highlighting […]

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Azadegan Oil Field to Be Put Out to Tender

The deputy head of the National Iranian Oil Company (NIOC) said the country plans to put the development of the South Azadegan oil field out to tender, dismissing reports that the project will be awarded to France’s oil giant Total without its participation in the bid. “The NIOC has no intention to entrust the development […]

Police deny License Plates for U.S.-made Cars

By John Lee. Iranian police have reportedly stopped issuing number plates for cars made in the United States. Police spokesman Saeed Montazerolmahdi is quoted as saying: “All American-made and U.S.-brand vehicles, including Honda and Toyota, are banned from receiving number plate services by the police. “The General Board of Police made this decision in July […]

How Iran’s Auto Industry became a Political Football

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian hard-liners have launched a new attack on the administration of President Hassan Rouhani, this time focusing on the country’s automotive industry. At an Oct. 25 parliamentary hearing, the Industries and Mines Committee grilled […]

Japanese Traders Eye Iranian Oil

Reuters reports that Japanese traders are looking to resume oil imports from Iraq, possibly by the end of this year. According to the report, Japanese firms have so far avoided Iranian crude due to a lack of internationally acceptable insurance coverage, but are looking at ways of using cover provided by the Japanese government. Buyers […]

US, Japanese Banks to Fund Boeing Sales to Iran

US plane manufacturer Boeing has reached an agreement with an American bank to provide financing for Iran’s purchase of airliners in cooperation with a Japanese bank, an informed source announced. The informed source at Iran’s government said according to an agreement between Boeing and a US bank, the purchase of the civil aircraft will be […]

Japan to Fund Iranian Petchem Projects

Japan has reportedly agreed to fund the development of some petrochemical projects in Iran. A deal has been signed between the Persian Gulf Petrochemical Industries Company (PGPIC) and Japan’s Marubeni to provide as much as €320 million for the development of PGPIC’s petrochemical projects, IRNA reported. The financing will be done through a mechanism known […]