Latest Business News in Iran – News and reports about all things to do with commerce, trade, banking and industry in Iran and the world. Covering ongoing developments, market news, contracts, joint ventures, trade delegations, chambers of commerce, manufacturing, labour news and resource management.
The Organization of Petroleum Exporting Countries (OPEC) says Iran took the lead among oil producers in March 2024 when it produced 3 million 188 thousand barrels per day (bpd) of crude, 28,000 bpd more that its output in February.
The deputy head of Iran’s Association of Truckers Trade Unions says Afghanistan has limited the traffic of the Iranian trucks by bullying and imposing very strict rules for the movement of Iranian trucks in the country.
Pakistan has stressed it is within its rights to import natural gas from Iran despite the US objections to fresh attempts by Islamabad to revive a 2009 gas supply agreement with Tehran.
With the advent of the Iranian New Year on Wednesday, holidaymakers across Iran travel to other cities to visit their families and relatives, or find a resort to chillax after a year of hard work, or just zip across the four corners of the country.
Iran is commemorating the 73rd anniversary of its historic nationalization of the oil industry, a landmark event that reshaped the nation's trajectory.
Iranian Oil Minister Javad Owji says that Tehran’s oil exports won’t be hampered if Donald Trump wins the US presidential elections in November. He also added that sanctions and acts of sabotage have failed to stop the country’s progress in the oil sector.
Iran says it believes in ‘integrated and joint’ extraction with Kuwait and Saudi Arabia from the disputed Arash gas field in the Persian Gulf, warning Tehran will start drilling in the field if Kuwait does so.
The court that deals with the cases on the International Civil Aviation Organization (ICAO) has issued a verdict on a 2020 Ukrainian plane crash incident over Tehran sky, exonerating Iran from accusations of intentionally downing the airliner, the Iranian vice president for legal affairs announced.
President Ebrahim Raisi expressed Iran’s readiness to become a energy hub, stating that his country could turn into a safe route for the transfer and distribution of natural gas among suppliers and consumers.
Iran’s Research Institute of Petroleum Industry (RIPI) has been granted the Gas Exporting Countries Forum (GECF)’s Award for Long-Term Commitment to Natural Gas in recognition of its contribution to the natural gas sector.
Iranian Oil Minister Javad Owji has stated that the country’s natural gas production from 2012 to 2022 saw an average growth of 5.2 percent. He added that the figures show the production volume in Iran was more than 2.5 times the global average growth during this period.
Pakistan’s caretaker energy minister has stated Washington’s anti-Tehran sanctions, imposed over its nuclear program, may not apply to the Iran-Pakistan gas pipeline as Islamabad was going to start work on the project within its territory and connect to the neighboring country.
The Taliban administration in Afghanistan has invested 35 million dollars in Iran’s southeastern port city of Chabahar on commercial, residential and administrative projects, the Iranian special envoy to Kabul announced.
The International Monetary Fund (IMF) has revised up its previous economic growth projection for Iran in 2023, attributing it to a higher-than-expected increase in Tehran’s oil output.
Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has said negotiations are underway between Tehran and 21 states to launch joint free zones.
Iran’s Vice President for Legal Affairs Mohammad Dehqan has stressed that the country will reciprocate if its ships are seized illegally, as the United States acknowledges the confiscation of Iranian oil.
Tehran’s international trade with the Shanghai Cooperation Organization (SCO) has increased to over $37 billion in the first 10 months of the current Iranian calendar year starting on March 21, 2023, an Iranian official has stated.
Iranian President Ebrahim Raisi has stressed the necessity to enhance the tourism industry to diversify the sources of national income and diminish the country’s reliance on oil.
