Tag Archives | Oman

Officials Discuss Closer Iran-Oman Trade

Authorities from Iran and Oman in a meeting in Muscat explored avenues for stronger trade links between the two neighbors. Heading an economic delegation, Iranian Deputy Foreign Minister Morteza Sarmadi held a meeting with Oman’s Minister of Commerce and Industry Ali bin Masoud Al Sunaidi in Muscat to discuss the ways for economic cooperation and […]

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Iran Ready for Free Trade with Regional Countries

Head of Iran’s Trade Promotion Organization (TPO) Mojtaba Khosrotaj said the Islamic Republic is prepared to establish preferential tariffs and free trade with some regional countries, particularly Afghanistan, Pakistan, and Oman. Speaking at a meeting of a working group on the development of non-oil exports of the southeastern province of Sistan and Balouchestan, Khosrotaj underlined […]

Cargo Line Opened between Qatar, Turkey via Iran

Qatar has opened a land and sea cargo line with Iran and Turkey in a bid to reduce the Arab country’s cargo shipping costs by 80 percent, a report said. Former editor-in-chief of Qatar’s al-Sharq newspaper, Jaber Al-Harmi, said via twitter that the Persian Gulf Arab state has opened a land and sea cargo line […]

Omani Delegation Visits Iran for Trade Talks

An Omani trade delegation paid a visit to the southeastern Iranian southern port city of Jask, Hormozgan province, to discuss ways to improve economic ties between the two nations, a report said. Headed by Khamis bin Abdullah al Farsi, the director general of commerce at Oman’s Ministry of Commerce and Industry, the mission held a […]

Rouhani leads Iran’s Return to Wheat Exports

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran is among the top wheat consumers in the world. Consumption per capita in the country is estimated at 167.6 kilograms (369 pounds) per year, almost three times the global average of some 67 kilograms […]

Total seeks $4bn Stake in South Pars Gas Gield

Total is seeking a 50 percent stake in a $4 billion project in Iran’s giant South Pars gas field, the French energy firm said in a regulatory filing detailing talks held with Iranian officials on several projects in 2016. Total signed a preliminary deal for the South Pars project last year, becoming the first Western […]

Iran, Norway in Oil Talks

Norway’s oil industry can invest in Iran’s upstream development projects and also collaborate with Iranian companies to adopt enhanced oil recovery (EOR) methods to boost recovery rate from Iranian oilfields, an official says. Gholamreza Manouchehri, deputy head of National Iranian Oil Company (NIOC), made the statement while addressing a panel on “Iran and Norway Upstream […]

Construction of Iran-Oman-India Pipeline “Imminent”

An official with New Delhi-based South Asia Gas Enterprise Pvt Ltd (SAGE) said that the implementation of a plan to build an undersea gas pipeline to export Iran’s gas via Oman Sea and Indian Ocean to India is imminent. “With the sanctions being lifted, that has definitely changed the game, and the level of interest […]

Tehran-Muscat Trade Increases to $1bn in 2016

Oman’s Minister of Commerce and Industry Ali bin Masoud al-Sunaidy said the volume of trade exchange between Tehran and Muscat increased to as high as $1 billion in 2016 compared to the same period in 2015. “Bilateral trade between Oman and Iran exceeded $1 billion by the end of October last year. In 2015, it […]

Russia Signs Deal to Develop Iranian Oil and Gas Fields

High-ranking officials from Iran’s oil ministry and the giant Russian oil and gas company Gazprom have signed a major deal on Tuesday to promote cooperation in the development of two oil fields in western Iran. In a ceremony on Tuesday attended by Iranian Oil Minister Bijan Namdar Zanganeh and Russian Energy Minister Alexander Novak, the […]

Iran, Oman, IOCs study Gas Exports

By John Lee. Platts reports that senior officials from the National Iranian Gas Exports Company (NIGEC) have met with Oman’s oil ministry and three international oil companies — Shell, Total and Korea Gas Corporation (KOGAS) — to look at the potential to pipe gas from Iran to Oman. They held a two-day meeting in Tehran […]

Iran, Oman Launch Passenger Shipping Line

Iran and Oman launched the first direct passenger shipping line between the southeastern port city of Chabahar and Oman’s capital of Muscat, an Iranian deputy minister announced. The first shipping line for maritime travels between Iran and Oman was inaugurated at Chabahar on Wednesday in a ceremony attended by Roads and Urban Development Minister Abbas […]

Three Foreign Banks to Open in Iran

By John Lee. Three foreign banks are reported to be opening representative offices in Iran. Peyman Ghorbani, Vice Governor of the Central Bank of Iran (CBI) told Bloomberg that Oman’s Bank Muscat SAOG, Woori Bank of South Korea, and India’s UCO Bank Ltd. are all in the process of establishing a presence in Tehran. He declined to […]

Iran Considers Power Export to Oman via Submarine Cable

An Iranian deputy minister unveiled plans for export of electricity to Oman via submarine power cables. Speaking at a press conference in Tehran on Tuesday, Deputy Energy Minister Hooshang Falahatian said initial studies have been conducted on the construction of an undersea power line to export electricity to Oman. According to the official, Tehran and […]

Oman Considers Direct Flights to Mashhad

Oman Air said it will establish a direct flight route to Iran’s northeastern holy city of Mashhad in the near future. “Oman Air will be adding another destination in Iran, happy to be flying to Mashhad soon,” the Omani airline announced in a post published on its Twitter account on Sunday, Times of Oman reported. […]

Bank Muscat to Open Branch in Tehran

The Central Bank of Oman (CBO) has approved the request from Bank Muscat, Oman’s largest lender by market value, to open a representative office in Iran, a report said. The approval makes Bank Muscat one of the first foreign financial firms to establish a presence in Iran following the recent implementation of the Joint Comprehensive […]

Iran in Dialogue to Process LNG in Oman: Minister

Iran has started discussion with Oman on using spare capacity of Oman LNG, to process Iranian gas for exports, local media reports said quoting officials. Addressing the annual media briefing in Muscat, Mohammed bin Hamad Al Rumhy (pictured), minister of oil and gas, said that Oman LNG has a spare capacity of 1.5 million tonnes […]

KOGAS may build Iran-Oman Subsea Gas Pipeline

Tehran and Seoul are in talks over the possibility that the Korea Gas Corporation (KOGAS) may construct an undersea gas pipeline that would link Iran and Oman. According to a report carried by South Korea’s Pulse News on Wednesday, National Iranian Oil Company (NIOC) and National Iranian Gas Export Company (NIGEC) may sign a memorandum […]

Oman signs MoU with Iranian Ports

The biggest port in the sultanate of Oman has signed a memorandum of understanding (MoU) with the Iranian ports of Shahid Rajaee (pictured) and Chabahar (Chah Bahar). Arranged with the Ports and Maritime Organization of Iran (PMOI), the agreement with the Port of Salalah envisages close cooperation to facilitate growth in shipping, trade and commerce […]

Bank Muscat to open Office in Iran

By John Lee. Bank Muscat has issued a statement saying that it is in the process of establishing a representative office in Iran. “We will ensure full compliance with all local and international regulatory requirements. We will inform the market once all regulatory approvals are in place,” the bank said. According to Reuters, the announcement […]