Tag Archives | Japan

Iran-Related Oil Consultancy Accused of Corruption

By John Lee. An oil consultancy company founded by an exiled Iranian has been accused of widespread bribery and corruption in the oil industry, including in Iraq and Libya. An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil channelled huge bribes to government […]

France’s Total to Develop Shared Oilfield in Iraq

By John Lee. Iran has reportedly signed an agreement with France’s Total to develop the South Azadegan oil field, which is shares with Iraq. Iranian Oil Minister Bijan Zangeneh (pictured) is quoted as saying that both parties have agreed to keep the details of agreement confidential, adding that the French firm is now “studying its […]

Over 200 Foreign Investors Active in Iran Capital Market

The number of foreign shareholders in the capital market of Iran is now more than 200, the Managing Director of the Central Securities Depository of Iran (CSDI) has said. Last month 9 natural shareholders from Romania, Russia, South Africa, Italy, Britain (2 people), Kuwait, Pakistan, and Afghanistan received their codes to be active in the […]

Will French Carmakers rev up Iran’s Auto Industry?

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. In his first trip abroad following the Jan. 16 implementation day of the Joint Comprehensive Plan of Action, Iran’s President Hassan Rouhani toured Italy and France, where he signed major deals with Airbus SAS […]

Japan Refiners and Banks Resume Iran Trade

By John Lee. Japanese oil refiners have started making oil payments to Iran through the Asian country’s largest lender, the Bank of Tokyo-Mitsubishi UFJ (BTMU). Tokyo lifted sanctions against Iran last month; BTMU can now process Iranian oil payments for Japanese refiners both in the yen and euros, according to Platts. The bank handled most […]

Iran Debtors Ready to Settle Oil Debts

Iran says foreign oil firms are ready to settle their debts to Iran, probably in euros. Iranian Minister of Petroleum Bijan Zangeneh told a press conference on Tuesday that Greece’s Hellenic Petroleum, Italy’s Saras and Royal Dutch Shell owe Iran about $4 billion, which will be paid back to Iran in euros. Shell has said […]

Linde, Mitsui plan $4bn investment in Iran

By John Lee. German industrial gases company Linde and Japan’s Mitsui Chemicals are planning to invest $4 billion into petrochemical projects in Iran. Linde is considering investment in several Iranian projects, including Damavand Petrochemicals, in cooperation with Japan’s Mitsui, Marzieh Shah-Daei projects director at the A spokesperson for the National Petrochemical Company (NPC) told Press […]

Japanese Firms Looking at Iranian Opportunities

By John Lee. Nikkei Asian Review reports that Japanese companies are eager to return to Iran, but adds that the risk of doing business in the volatile region is also not lost on anxious corporate chiefs. Tokyo lifted sanctions on Iran on Friday, and Japanese automakers, including Toyota, Nissan and Mazda aim to quickly restart exports, […]

Japan Lifts Nuclear Sanctions on Iran

By John Lee. Japan lifted its sanctions on Iran on Friday. Chief Cabinet Secretary Yoshihide Suga (pictured): “Japan would like to strengthen our cooperative relationship with Iran further and contribute to the peace and stability of the Middle East through our traditional friendly relationship with Iran.” Reuters reports that Japanese companies, including those in the […]

Suzuki Eager to Return to Iran

By John Lee. The President of Japan’s Suzuki Motor Corporation said on Thursday that it is considering re-entering the Iranian market: Toshihiro Suzuki told reporters: “We signed a licensing deal with Iran Khodro Industrial Group for local production in 2005. With the recent easing of sanctions, we’d like to consider restarting our business there.” Under […]

Renault-Nissan ‘Ready’ for Iran

By John Lee. The head of the Renault-Nissan alliance has said the company is ready to expand its manufacturing footprint in Iran once sanctions are lifted. Carlos Ghosn (pictured) told reporters that the company will be “extremely careful” in how it proceeds, but added, “Iran is a very promising market … Today it’s more than […]

Iran Allocates $6bn for Petchem, Refinery Projects

The Director of Investment at Iran’s National Petrochemical Company (NPC) said the National Development Fund (NDF) has allocated 6 billion dollars for petrochemical and refinery projects. “Financing of projects from the fund will be expedited after SWIFT is back,” Amir Hassan Fallah told Shana. He said Japanese, South Korean, and European firms are interested in […]

Iran talking to Six Countries to Buy Aircraft

PressTV reports that Iran is in talks with six countries to purchase new commercial aircraft to renovate the country’s aviation fleet after the removal of sanctions. The Secretary of the Association of Iranian Airlines, Maqsoud As’adi-Samani (pictured), told the Tasnim news agency: “After the Vienna agreement, chief executives or sales managers of all aircraft manufacturers […]

Iran gives 30-day visas at airports

By John Lee. Iran is to start issuing 30-day visas for tourists from 58 countries upon arrival at its airports. The Persian-language newspaper Donya-ye Eqtesad says the visas can be extended by 15 more days. Foreign tourists could previously get 14-day visas at Iran’s airports and their visas could not be extended. Eligible countries are: […]

Japan Tobacco buys Iranian Cigarette Maker

Japan Tobacco International (JTI) has reportedly bought an Iranian cigarette maker in an attempt to reinforce its position as the market leader in a country prior to the expected relaxation of sanctions. The Financial Times reports that JTI Pars, its Iranian subsidiary, recently acquired the privately owned Arian Tobacco Industry (ATI) for an undisclosed amount. […]

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 […]

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 […]