Tag Archives | Russia

Russia Hosting Conference on Iran-North Caucasus Cooperation

An international conference about ways to boost economic relations between Iran and the North Caucasus region opened in the Republic of North Ossetia-Alania in Russia on Tuesday. The international event is underway in North Ossetian State University in Vladikavkaz, the capital city of the Republic of North Ossetia-Alania, and will last for two days. The […]

NIOC, Gazprom sign LNG deal

Russian gas giant Gazprom has signed a initial agreement with the National Iranian Oil Company (NIOC) for cooperation in the production of liquefied natural gas (LNG). As the official website of Gazprom announced, this would be part of a larger plan for cooperation that concentrates on the development of Iran’s gas fields “with subsequent transportation […]

North-South Corridor Economically Viable: Russian President

Russian President Vladimir Putin said that North-South Corridor is economically viable, adding that Tehran, Moscow and Baku plan to enhance their cooperation on the corridor. In a joint news conference following the second trilateral summit of Iran, Russia and Azerbaijan in Tehran on Wednesday, Putin said the three countries intend to have good cooperation on […]

NIOC, Rosneft eye $30bn in Oil, Gas Projects

The head of Russia’s state-controlled oil giant Rosneft said it has signed a road map with the National Iranian Oil Company (NIOC) to implement “strategic” projects in Iran. Igor Sechin said on Wednesday that the deal paved the way for legally-binding documents to be signed within a year, according to Reuters. The output from the […]

Iran, Russia ink 6 Oil MoUs

Iran and Russia has signed 6 oil memoranda of understanding (MoUs) in Tehran, the Iranian deputy petroleum minister for international affairs and trading said. Amir Hossein Zamaninia told Shana on Wednesday that the first deal, signed by Iranian Minister of Petroleum Bijan Zangeneh and his Russian counterpart Alexander Novak, outlines strategic Tehran-Moscow cooperation on energy […]

Iranian Banks Slowly Reconnect to the World

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. A recent string of “financing agreements” that various governments and international banks have signed with Iran indicates that Tehran is finding solutions to leave behind the bottlenecks in financing its international projects. The question […]

New Work Begins at Bushehr Nuclear Plant

The excavation process for the construction of new sites for the second and third reactors of Bushehr nuclear power plant in southern Iran began on Tuesday. The project kicked off in a ceremony at Iran’s southern port city of Bushehr, attended by Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi, nuclear […]

Iran 3rd in World for Exploration Capacity

Iran is ranked as the third country in the world, after Russia and Iraq, for enjoying exploration capacity, according to the United States Geological Survey (USGS). Addressing an upstream forum at the 3rd Iranian Petroleum and Energy Club Congress and Exhibition in Tehran, Director of Exploration at the National Iranian Oil Company (NIOC) Seyed Saleh […]

Lukoil, NIOC sign MoUs on Caspian Sea Oil Project

The National Iranian Oil Company (NIOC) and Russian energy giant, Lukoil, have signed two MoUs for carrying out geological studies on oil projects in the Caspian Sea. The documents were signed in Moscow in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh and Lukoil Managing Director Vagit Alekperov in Moscow […]

US “Unable to Stop Irans Oil Exports”

If the US reimposes sanctions on Iran’s oil sector without the support of Europe, China and Russia, it will see grudging and uneven compliance by international energy companies and will not be able to stop crude flows that returned to the market in 2015, according to sanctions expert Elizabeth Rosenberg, Platts reported. “Grudging compliance does […]

Iran World’s Third Largest Natural Gas Producer

Iran has been named the worlds third largest natural gas producer in 2016, according to the International Energy Agency (IEA). The IEA in its report said Iran had produced 190 billion cubic meters (bcm) of gas last year which it said was 5.3 percent of world’s total. The agency in its report said the US […]

Russia lends €1.2bn for Iranian Power Plant

By John Lee. Russia’s state-owned Vnesheconombank (VEB) has reportedly agreed to lend Iran’s Bank of Industry and Mines €1.2-billion over five years for the development of the  1,400-MW Hormozgan thermal power plant. According to PressTV, Russian President Vladimir Putin said in February that Moscow would grant a total of €2.2 billion to Iran for two […]

Iran’s Top Diplomat Due in Russia Wednesday

Iranian Foreign Minister Mohammad Javad Zarif will travel to Russia on Wednesday for a series of diplomatic talks with Russian officials, a spokesperson said. Heading a delegation, Zarif is going to visit Russia’s southwestern city of Sochi, Iranian Foreign Ministry Spokesman Bahram Qassemi announced. The senior Iranian diplomat is scheduled to leave Tehran for Sochi […]

Talks on Iran-EAEU Partnership in Final Phase

Russia’s First Deputy Prime Minister Igor Shuvalov said talks with Iran over its partnership with the Eurasian Economic Union (EAEU) are nearing an end. “We are in talks with Singapore and we are close to conclusion of negotiations with Iran,” Shuvalov said on Wednesday, the Tass news agency reported. Iran and the EAEU negotiated for […]

Iran, India “Probably Part Ways” on Farzad B

Iran has started preliminary talks with Russians to develop Farzad B but negotiations also carry on with the Indians who have long coveted the giant gas field, Iranian Oil Ministry stated. “For the development of the Farzad B field, we are pursuing three separate paths in parallel, but none of the options is definite yet,” […]

Russian Companies Submit Plans to Develop Iran Oil Fields

Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have submitted plans to the National Iranian Oil Company (NIOC) to develop oil fields in Iran. Zarubezhneft representatives outlined their plans to increase the recovery rate of oil from the Aban and West Paydar fields, Iran’s Ministry of Petroleum announced on Monday. A memorandum of understanding for […]

Iran’s New Industrial Policy to “Transform Political Economy”

By Esfandyar Batmanghelidj, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. New Industrial Policy Poised to Transform Iran’s Political Economy This past summer, the Industrial Development and Renovation Organization of Iran (IDRO) concluded landmark agreements with French automaker Renault and transportation giant Alstom as well […]

Lukoil, Pertamina propose Plans to Develop Mansouri Oil Field

Proposed plans by Russia’s Lukoil and Indonesia’s Pertamina to develop the Bangestan reservoir of Mansouri oil field have been reviewed by the National Iranian Oil Company’s (NIOC) Supreme Council of Reserves. The Council made comments on the plans and the improvement of the quality of the study and the reduction of existing uncertainties, which ultimately […]

Russneft eyes Oil Ties with Iran

Russian oil refining major Russneft has signaled keenness to enhance oil ties with Iran especially in crude oil swap projects, an official said. Amir Hossein Zamaninia, Deputy Petroleum Minister for international affairs and trading, said the Russian company has also indicated its willingness to join development projects in Iran’s oil fields including the Azadegan, Maroon, […]

Gazprom Neft Presents Oilfields Studies to NIOC

Russia’s Gazprom Neft has submitted the result of its studies on Iran’s Changouleh and Cheshmeh Khosh oilfields to the National Iranian Oil Company (NIOC). Officials from the company presented the studies to the NIOC at a meeting with Gholamreza Manouchehri, deputy for development and engineering of the company, and senior executives from the Petroleum Engineering […]