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<div>Rise in Asia's crude oil imports from Iran</div>

Tehran (ISNA) -Imports of Iranian crude oil by major buyers in Asia rose in July from a 14-month low in the previous month, as purchases from South Korea surged by nearly 30% and those from China held steady, offsetting declines from Japan and India.

China, India, South Korea and Japan together imported 1.52 million barrels per day in July, government and ship-tracking data showed. While imports rose from the previous month, they were down 7.1% from a year earlier, Reuters reported.

Iran is aiming to raise oil output to around 4 million bpd by the end of the year from around 3.8 million bpd in recent months.

For the first seven months of 2017, purchases by Asia's main buyers were still up 16.6% from the same period in 2016 at just under 1.7 million bpd.

Iran was exempted from an agreement by the Organization of Petroleum Exporting Countries to reduce output by 1.2 million bpd, a victory for Tehran that has argued it needs to regain the market share it lost under western sanctions over its nuclear program.

The latest data showed South Korea's imports of Iranian crude rose 26.7% in July to 368,935 bpd. Chinese purchases were up slightly to 568,719 bpd.

Japan's trade ministry on Monday released official data showing its Iranian imports fell for a third straight month in July.

Iran's Oil Minister Bijan Namdar Zanganeh said this week the county's crude production has stabilized at 3.8 million barrels per day with exports at 2.6 million barrels.

End Item

Foreign countries to allocate 22-billion-euro line of credit for Iran

Tehran (ISNA) – The governor of Central Bank of Iran announced that lines of credit worth 22 billion euros will be allocated to Iran in coming days for implementation of various projects.

“Austria, Denmark, Italy and some other countries will open a 22-billion-euro line of credit for Iran in coming days” the CBI governor Valiollah Seif said.

Mentioning that a separate eight-billion-euro LOC has been recently signed with South Korea, he noted, “These lines of credit will led to further investment and a rise in production and employment in Iran”.

“Iran would have never obtained these outstanding achievements, if the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) was not signed” Seif stressed.

CBI governor also stress the need to follow up compliance of Iran’s economic activities with international standards referring to adequate international banking ties as a necessary prerequisite to the process.

“More than 750 broker relations have been formed following JCPOA implementation thanks to assistance provided by the Iranian Foreign Ministry,” he continued.

The official stated that Central Bank of Iran was in talks with several foreign counterparts to open joint account in a bid to alleviate the need for foreign exchange in transactions.

End Item

Iran Khodro to finalize deal with Nissan Motor for Datsun cars

Tehran (ISNA) - Iran Khodro (IKCO) is expected to finalize a deal with Nissan Motor Co for production of low-budget Datsun cars, the largest Iranian automaker’s CEO Hashem Yekezare announced.

"We will enter into a contract with Japan’s Datsun in the next few months,” he said.

The contract will be signed before the end of the current Persian year in March 2018, Yekezare added.

Nissan has already said it would send so-called knockdown kits, to be assembled locally, rather than finished autos to Iran and that the automaker was looking to export kits for several thousand vehicles a year. 

IKCO’s talks with Nissan for production of affordable cars of high quality began in early 2016, with the Iranian automaker targeting Datsun cars in the price range of $11,500.

The production of Datsun cars can potentially enable IKCO to phase out its dilapidated models in the same price category including the Peugeot 405.

Datsun is a resurrected brand targeting emerging markets. Nissan quit using the Datsun brand in 1981 but revived the nameplate in 2013 for increasing sales to Indonesia, India and Russia.

End Item

Iran’s mining products exports increase by 18 pct

سرقینی / صنعت

Tehran (ISNA) - Iran's deputy minister of industry, mine and trade announced that the export of mining industries has increased 18 percent in the first four months of the Iranian fiscal year ( stared from 21 March).

"The export of iron ore concentrate, copper and industrial minerals, the copper and steel, cement, ceramics and glass industries has experienced a growth of 18 per cent," Iranian deputy minister of industry, mine and trade said.

He added that the signing of the Joint Comprehensive Plan of Action (JCPOA) between Iran and the P5 + 1 group had an effective role in reducing mineral prices.

End Item

Tehran has the highest growth rate of viability among cities in the world

Tehran (ISNA) - According to the Economist, in terms of viability, Tehran had the highest growth rate in 2017 in the world’s cities, secretary of Iran Urban Economics Scientific Association (IUESA) said.

“New urban management should strengthen the positive and strong aspects of Tehran’s metropolitan viability, including infrastructure, public transportation, health, security, participation and social cohesion,” secretary of IUESA Seyyed Mohsen Tabatabaei Mozdabadi added.

Noting that cities’ viability and sustainability are both attractive and at the same time undeniable necessity for the future of human urban life, he said, “viability is, in fact, the achievement of good urban planning or sustainable development, and it includes many other concepts, such as quality of life, ecological sustainability, vitality, equality, justice, security, participation, health, etc.”

Stating that across the world, governments, institutions, institutions, planners and researchers are all looking to find ways to build viable cities, the official added, “These cities consume less energy and resources, have more cohesive communities, show innovation and creativity, and offer better living conditions”.

Mentioning that the Economist in its annual reports examines the viability status of the world’s cities based on numerous social, economic, and environmental factors, and ranks them, he further said, “Cities like Vancouver, Melbourne, Vienna, and Toronto are at the top of the world’s most viable cities every year”.

“In the 2011 report, 7 cities in Australia and Canada were among the top 10 cities in the world on the viability, which have maintained this trend by 2017, with only slight changes in their rankings,” Tabatabaei said.

Stressing that in 2011, among 10 cities at the end of this table, with 140 cities, there were cities such as Harare, Dhaka, Lagos and Karachi, and Tehran ranked 133, he said, “but in the 2017 ranking, Tehran with its six steps made its way from the lowest ten cities and ranked 127th . Among the cities of the world, it has had the highest growth rate in terms of viability, so that a city like Dubai has a lower growth index than Tehran”.

“This growth trend is promising. This growth indicates that moving in the path of sustainability and viability in the metropolis of Tehran is positive and, of course, needs to be accelerated further,” Secretary of IUESA went on to say.

He counted the highest decline in 140 cities in Damascus, Syria, Ukraine and Detroit in the United States, and said, “one of the reasons for the growth and improvement of Tehran in the field of viability in recent years is undoubtedly the infrastructure and transportation, which over the years has been a step forward in promoting public transport and increasing metro and BRT lines. In addition, issues related to citizenship participation have also been effective in this regard”.

“Tehran has a much more favorable situation in some of the indicators of viability, such as security and health, and is located among the cities like Kuala Lumpur, Moscow and Dalian,” he added.

End Item

Iran is expected to sign 10 new oil deals by March: oil minister

Tehran (ISNA) – Iranian oil minister Bijan Namdar Zanganeh announced that Tehran is expected to sign 10 new oil deals by the end of this fiscal year in March 2018.

"This is our assumption and we can't give an exact number. But we are engaged in serious negotiations that could lead to some 10 new oil deals by the year end," Zanganeh said.

According to the oil minister, Iran has been holding serious talks with various potential suitors based on the oil ministry’s priorities.

“All the negotiations are proceeding smoothly in a way that none of them impedes the others,” he asserted.

Asked about the ministry’s priorities, Zanganeh noted that development of South Pars oil layer, as well as Azar, Sohrab, Ab Teymour, Mansouri and Azadegan oilfields are top priorities for the time being.

“The general terms of the new deals have been finalized, but technical details for each field should be thrashed out respectively,” the minister said.

“Each field has its own technical complexities thus needs specific documentation, so we couldn’t apply one field’s documents to others,” he added.

“Technical aspects must be clear to make discussing financial issues and investment procedures possible,” Zanganeh went on to say.

End Item

Trading 520 thousand tonnes of commodities on IME

Tehran (ISNA) - During weekdays ending up to August 24, approximately, 520,965 MT of commodities worth over 193.9 million USD were traded in Iran Mercantile Exchange.

According to the report from IME International Affairs and PR, last week, on the domestic and export metal and mineral trading floor of IME, 205,742 MT of various products worth close to 47.3 million USD were traded.

On this trading floor, 165,000 MT of iron ore, 34,426 MT of steel products, 6,170 MT of copper, 140 MT of molybdenum concentrates as well as 6 MT of precious metal concentrates were traded.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 259,867 MT of different commodities with the total value of 127.7 million USD were traded.

On this trading floor, more than 104,594 MT of bitumen, 55,454 MT of polymer products, 65,200 MT of VB feed stock as well as 8,500 MT of lube-cut oil, 23,587 MT of chemical products, 270 MT of sulfur, 1,012 MT of base oil and slack waxes and 1,250 MT of insulation were traded.

Moreover, on the agricultural trading floor of IME, 49,423 MT of various commodities worth over 16.8 million USD were traded. On this trading floor, 3,938 MT of feed barley, 37,659 MT of wheat, 6,600 MT of sugar, 600 MT of maize, 550 MT of meals and 83,000 day oil chicks were traded by customers.

It is worth noting that during the first week of August, the side market of IME witnessed trading of 2,000 MT of potash (potassium chloride), 8,000 day-old chicks, 100 MT of raw milk, 3,000 MT of metal scrap and 825 MT of phosphate concentrate.

End Item

<div>India Essar's July oil imports from Iran up 24% on month</div>

Tehran (ISNA) – India increased imports of Iranian crude oil by 24 percent in July from the previous month.

The Indian oil company Essar shipped in 152,000 barrels per day (bpd) of Iranian crude in July compared to 122,000 bpd in June.

However, according to the tanker arrival data obtained from trade sources and ship-tracking services on the Thomson Reuters terminal, Essar Oil shipped in 18.3 percent less oil from Iran in July compared with a year ago, at about 152,000 bpd.

In the first seven months of the year, the refiner received 4.8 percent less oil from Tehran at about 151,300 bpd, the data showed. 

Russian oil major Rosneft and partners closed a $12.9 billion purchase of Indian refiner Essar Oil on August 21, giving them a foothold in one of the world’s fastest growing oil users.

Essar Oil's new owners will settle over 2 billion euros ($2.4 billion) owed to Iran for past oil purchases.

End Item

FM: Iran Hopes for Strong Partnership with Japan in All Fields

TEHRAN (FNA)- Iranian Foreign Minister Mohammad Javad Zarif underlined his country's enthusiasm for strong partnership and cooperation with Japan in all arenas, specially political and economic fields.

Zarif made the remarks in a meeting with Japanese Prime Minister's Special Envoy Masahiko Koumura in Tehran on Wednesday.

During the meeting, Zarif pointed to the agreements singed between Iran and Japan on development of economic relations, and expressed the hope that Japan would turn to be Iran's strong partner in the fields of politico-economics, such as transport, energy, oil and gas.

He also pointed to recent agreements on financing energy projects in Iran, and said preliminary works on these projects are underway and Iran believes the two countries could be good partners.

Zarif reminded Iran's principled stances on opposing usage or threatening to use nuclear weapons, and underscored the necessity for settlement of disputes peacefully and need for cooperation among important countries of the region in reducing tensions.

Masahiko Koumura, for his part, voiced pleasure for political, economic consultations with Iranian officials, and praised Iran's role in the region.

Japan respect Iran for commitment to its obligations, he added.

Koumura, heading a high-ranking delegation, arrived in Tehran on Tuesday and met President Hassan Rouhani on Wednesday.

He is due to meet and consult with other political and economic officials of Iran during his 3-day stay in Iran.

In relevant remarks last month, Japanese Minister of Economy Hiroshige Sekō stressed Tokyo’s plans for developing economic cooperation with Iran and providing the necessary supports in this regard.

"We are looking for broadening of economic and trade ties with Iran," the Japanese envoy said in a meeting with Iranian Deputy Foreign Minister Seyed Abbas Araqchi in Tokyo.

Sekō also voiced Japan’s strong support for the successful implementation of Iran’s nuclear deal, dubbed a Joint Comprehensive Plan of Action (JCPOA).

 

 

 

 

Official: Iran Resolved to Expand Bilateral Ties with Azerbaijan

TEHRAN (FNA)- Iranian President's Chief of Staff Mahmoud Vaezi underlined Tehran's resolve to expand mutual cooperation with the Republic of Azerbaijan.

"We call for expediting implementation of joint projects and previously agreed-upon plans between the two sides," Vaezi said in a telephone conversation with Azerbaijan's Economy Minister Shahin Mustafayev in Tehran on Tuesday.  

Mustafayev, for his part, praised the two countries’ efforts in expanding bilateral relations in the past four years, voicing hope for further development of Tehran-Baku cooperation during President Rouhani’s second term in office.

He further expressed his country’s resolve to implement the signed agreements with Iran as soon as possible and to launch new projects with the Islamic Republic to improve bilateral ties.

In relevant remarks in late May, Iranian President Hassan Rouhani in a message to his Azeri counterpart Ilham Aliyev called for broadening of bilateral relations in different fields.

"I hope that the good relations between the two countries will develop at bilateral, regional, and international levels," Rouhani said in his message to congratulate Azerbaijan Republic Day.

"I sincerely congratulate you, the government and the nation of Azerbaijan on the occasion of Azerbaijan's Republic Day," the Iranian president added.

 

 

 

 

<div>Oil Minister: Brazil Eyeing Iran's Crude Supply for New Refinery</div>

TEHRAN (FNA)- Iranian Oil Minister Bijan Zangeneh announced that Brazil wants Iran to supply crude needed to feed that country's refineries.

"Brazilian Energy Minister Fernando Coelho Filho has asked for supply crude oil for one of that country's oil refineries," Zangeneh told reporters after meeting his Brazilian counterpart.

The Iranian oil minister said that the first focus of the talks between the Iranian and Brazilian delegations inviting the state company of Brazil, Petrobras, by Iran to participate in the oil and gas projects of the country.

"The Brazilian side is committed to send a group of Petrobras to Iran and within a few months a group of Brazilian industrialists will visit Tehran to discuss the expansion of cooperation and the construction of oil equipment," he added.

In relevant remarks in December, an energy official announced that Brazil is interested to invest in Iran's downstream oil sector and cooperation in deep waters.

Director General of the Europe, American and Caspian Neighbors Affairs Department at Ministry of Petroleum Hossein Esmaili said that Brazil has also called for contribution into Iranian energy projects.

Esmaili said the Brazilian delegation had in its Sunday meeting with Iranian officials reached agreement on formation of a joint energy committee for the purpose.

He said Iran welcomes cooperation with Brazilian top companies. "Further talks in that respect will continue."

Brazil is the most important economic partner of Iran in Latin America and volume of their economic relations is estimated to be about two billion dollars.

 

 

 

 

<div>Iran Eyeing Investment in India's Projects</div>

TEHRAN (FNA)- Iranian businessmen and industrialists are planning to take part in development projects of India, an official said.

Enhancement of Iran business engagement in India to generate an annual income of four trillion dollars is a major goal Tehran is following to achieve, an Iranian official at Tehran Chamber of Commerce, Industries, Mines and Agriculture said on Tuesday.

"Iranian and Indian businessmen can be pioneers in developing the economic diplomacy between Tehran and New Delhi," Bahman Eshqi, Secretary General of Tehran Chamber of Commerce said.

He reiterated that India is seeking to attract foreign investments and apparently no other country in the vicinity of India is more capable than Iran to become a source of investment for New Delhi.

As the second most populous country in the world and the seventh largest by area, India is in need of energy to develop its economy, the trade official said.

He underlined that Iran can easily and securely meet the energy needs of India.

Experts are of the view that Iran and India can capitalize on the Chabahar joint development project as well as the North-South Corridor to boost the volume of trade exchanges between the two nations.

North–South Transport Corridor is a sea, rail, and road route expected to facilitate and boost exchange of goods between India, Russia, Iran, Europe and Central Asia.

 

 

 

 

Iran, South Korea Hold 5th Economy Forum in Seoul

TEHRAN (FNA)- The 5th Iran-South Korea Economic Cooperation Forum opened in Seoul, media reports said.

The 5th Iran-South Korea Economic Cooperation Forum dubbed as "Economy and Industry of Iran is underway in the South Korean capital with the aim of broadening trade and commercial cooperation between the two countries, South Korea's media reported.

The Iranian delegation to Seoul is headed by Chairman of Commercial Study and Research Institute of the Industry Ministry Mohammad Reza Razavi.

Iran's Ambassador to South Korea Hassan Taherian in a speech addressing the inauguration ceremony reminded the importance of strengthening economic cooperation, specially in post-JCPOA era between Iranian and South Korean companies, specially in the fields of investment and technology transfer.

He also pointed to strengthening international interactions, and said that such interactions will play effective role in accelerating economic development and growth speed.

Razavi, for his part, said that Iran's strategic capabilities are in direction of strengthening internal and regional security and economic development.

He reminded that economic movement, access to high growth rate, job creation, investment security either domestic or foreign is among axes, which the 12th government of Iran is paying attention to.

Ina relevant development in early August, South Korea’s SK Engineering and Construction Co (SKEC) signed a 1.6-billion-euro agreement with Iran to upgrade the country's Tabriz Oil Refining Company.

South Korean National Assembly Speaker Chung Sye-kyun, who attended President Hassan Rouhani’s swearing-in ceremony, oversaw the signing between SKEC, Tabriz Oil Refining Company and National Iranian Oil Engineering and Construction Company (NIOEC).

The purpose of the signing of the agreement, which is about to be signed into a contract in the near future, is to convert the furnace oil produced at the Tabriz refinery to products of higher value according to Euro 5 standard.

Export-Import Bank of Korea will finance the project which includes upgrades to desulfurization equipment as well as gasoline, diesel and other facilities.

The Tabriz oil processing plant, built in 1976, is among the Iranian refineries which are in dire need of upgrade and modernization.

 

 

 

 

Iranian Envoy Proposes Replacement of Security-Oriented Approach with Trade-Oriented Policies in Region

Iranian Envoy Proposes Replacement of Security-Oriented Approach with Trade-Oriented Policies in Region

TEHRAN (FNA)- Iran's envoy to Kuwait proposed the regional states to increase trade interactions instead of adopting a security-oriented approach as the region needs economic growth.

"It is appropriate for the regional states to put on their agenda a trade-oriented rather than a security-oriented approach which merely specifies the borders and increases the sensitivities; if so, all the regional states can benefit from its profits," Iranian Ambassador to Kuwait Ali Reza Enayati said on Tuesday.

"If we conclude that the region needs economic growth and continue our activities based on certain patterns of economic cooperation, this approach can boost the level of interaction and cooperation among the regional states by focusing on economic and trade issues," he added.

In relevant remarks in March, Iranian Foreign Minister Mohammad Javad Zarif expressed the hope that Tehran's relations with the neighboring states, specially the Persian Gulf Arab littoral nations, would improve after the recent visits by President Hassan Rouhani to Oman and Kuwait.

"Our most important priority is our ties with neighbors, but we haven’t been able to make much success due to the Saudi regime's policies. We are after constructive relations with all neighbors, including Saudi Arabia," Zarif told reporters on the sidelines of a cabinet meeting in Tehran.

"Of course, after the president's visits to Oman and Kuwait and my trip to Qatar, God willing, the ground will be prepared for improving the relations," he added.

His remarks came after Spokesman of the Iranian Government Mohammad Baqer Nobakht underlined that his country is eager to further develop relations and cooperation with the Persian Gulf littoral states.

"The Kuwaiti Emir's envoy had earlier come to Iran and said that the Persian Gulf littoral states intend to improve ties with Iran, and Iran's position is also clear in this regard and we have always been interested in peace and stability (in relations) with the neighboring states," Nobakht told reporters in Tehran in the same month.

 

 

 

 

<div>Russian Firms Submit Plans to Develop Iran's Oilfields</div>

TEHRAN (FNA)- Three major Russian oil companies have submitted their plans to the National Iranian Oil Company (NIOC) to develop Iran's oilfields, the oil ministry announced.

Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have voiced their readiness to help Iran develop its oilfields.

Zarubezhneft representatives outlined their plans to increase the recovery rate of oil from the Aban and West Paydar fields, the ministry said.

Iran has signed a memorandum of understanding with Zarubezhneft to study the two fields which Iran shares with Iraq.

The Russian company signed another MoU with the National Iranian South Oil Company (NISOC) in July this year to conduct technical studies on the Shadegan and Rag Sefid fields.

Rag Sefid was discovered in 1964 and is estimated to hold 16.5 billion barrels of reserves. Production from Shadegan near Ahvaz started in 1988 and the field is currently producing 70,000 barrels of oil a day.

Last month, Turkey’s Unit International signed a $7 billion agreement with Zarubezhneft and Iran's Ghadir Investment Holding to explore oil and natural gas development opportunities in Iran.

Gazprom Neft has also submitted its plan to develop Changouleh and Cheshmeh Khosh fields under an MoU signed with NIOC in December last year.

Located 80 km northwest of Dehloran city, the Changuleh oil field is situated in the Northwestern part of the North Dezful basin in the Lorestan province.

Lukoil and Indonesia’s Pertamina individually proposed plans to develop the Bangestan reservoir of the Mansouri oil field southeast of Ahwaz.

 

 

 

 

<div>France's Alstom to Invest &amp;euro;1.2b in Iran's Railway Arak Pars Wagon</div>

TEHRAN (FNA)- Alstom Company of France voiced readiness to help Iran develop its railway system through investments worth 1.2 billion euros for manufacturing wagon cars, the company's representative in Iran Vincent Douret said.

"The cooperation contract is to be signed by the Industrial Development and Renovation Organization (IDRO), Trans Russ Company and France's Alstom to manufacture passenger wagons, metro carriages and spare parts in Arak Pars Wagon complex," Douret said in a meeting with Governor General of Markazi Province Mahmoud Zamani Qomi in the Central city of Arak on Monday.

Aral Pars Wagon Company was founded in 1975 and is the largest manufacturer of locomotive, cargo and passenger wagons and metro carriages in the Middle East.

In relevant remarks in late July, former Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh announced Paris has concluded a contract with Tehran to develop Iran's railway system.

"The agreement was signed to make contribution to investment, technology transfer, production and export, and the maximum use of domestic capabilities," Nematzadeh said.

He said that it is estimated that 1,000 train cars will be manufactured with the participation of French Alstom company and with regard to their main share in this agreement.

"We also desired to export the cars in addition to supplying domestic needs," Nematzadeh said.

The Iranian minister said that the joint agreement to manufacture suburban and regional metro trains was signed between IDRO, Alstom, and Iranian Rail Industries Development Co (IRICO) with shares 20, 60, and 20 percent shares in the agreement, respectively.

Alstom, a French multinational company, operating worldwide in rail transport markets, is active in the fields of passenger transportation, signaling and locomotives, with products, including suburban, regional and metro trains.

 

 

 

 

Iran Sees Major Rise in Goods Transit Volume

TEHRAN (FNA)- Iran reported an increase of about a quarter in the transit of goods in its key transportation points, a sign that may show the country’s trade activities are growing.

Figures released by Iran’s Road Maintenance and Transportation Organization (IRMTO) showed that above 4.17 million tons of goods had been moved through 32 active land and maritime borders over a period of five months from the start of the current Iranian year (March 21, 2017).

Accordingly, the IRMTO announced in a statement that the figure was higher than the same period last year by 24 percent.

The bulk of goods transported through border points included non-oil products such as fuel oil, textiles, auto parts and food products at a total volume of 2.78 million tons.

Oil products comprised around 1.22 million tons of total good transited through borders.

The IRMTO further added in its statement that Shaheed Rajaei Port in the southern city of Bandar Abbas remained Iran’s most important port through which 35 percent of the country’s total trade activities had taken place.

In relevant remarks in early March, Deputy Managing Director of Iranian Railway Company Hossein Ashouri said that the transit of commodities through the country's rail network has nearly hit 1 million tons in the last eleven months.

"A total of 950,000 tons of goods were transited through railway network in the first eleven months of the current Iranian calendar year (March 20, 2016-February 20, 2017)," Ashouri said.

He said that Iranian Railway has set a record in transit of goods in the current Iranian year (will end on March 20) as relocation of fertilizers and aluminum grew by 20 percent.

 

 

 

 

Oil Minister: Iran to Hold Serious Talks with Int’l Companies in 4 Months

TEHRAN (FNA)- Iranian Oil Minister Bijan Zangeneh announced that intensive trade talks will be held with a large number of international companies in the coming months.

"Convergence among member-states of the Organization of Petroleum Exporting Countries (OPEC) has increased rather than being reduced," Zangeneh said.

Asked about launch of oil swap through Caspian Sea to Iran, the Iranian oil minister said that Iran is currently engaged in buying oil from Turkmenistan and Kazakhstan and Azerbaijan are willing to cooperate.

Regarding oil sales to Russia, he said, “We have no problem and that’s them who should take necessary measures."

In relevant remarks in late July, Zangeneh underlined that Asian and European companies were in talks about Iran’s oil and gas development projects which would potentially need $200 billion worth of investment.

He reiterated that Iran was already planning to absorb 65 percent to 70 percent of the amount from abroad.

 

 

 

 

5% Growth Expected in Iran this year

By editor on in Industry

By John Lee.

The Central Bank of Iran (CBI) has forecast economic growth of at least five percent for the current Iranian calendar year, which ends on 20th March 2018.

CBI Governor, Valiollah Seif (pictured), is quoted as saying.

“Most of the economic sectors have improved remarkably during the current fiscal year … therefore the country will register at least a five percent economic growth by the end of the year.”

Iran registered growth of 12.5 percent during the previous Iranian year, but much of this was attributed to the rise in Iran’s oil exports following the relaxation of sanctions.

(Source: Xinhua)

Iranian Exports to Turkey Up 80% in 7 Months

Tags: Central Bank of Iran (CBI), featured, GDP, growth

Iranian Exports to Turkey Up 80% in 7 Months

By editor on in Industry

The total value of Iran’s exports to Turkey during the first seven months of the current year has increased by 80 percent, compared to the same period last year, data released by Turkey showed.

Iran exported $4.5 billion worth of goods to Turkey from January to July 2017, indicating an 80% increase compared to a year earlier, in which the figure amounted to $2.5 billion, according to the Turkish Statistical Institute.

The total value of bilateral trade between the two neighboring countries over the mentioned period has also witnessed a 16 percent increase, reaching $6.3 billion.

Trade between Iran and Turkey from January to July 2016 had stood at $5.4 billion.

Oil and gas are Iran’s main exports to Turkey, according to the report.

In April last year, Iran and Turkey signed eight memorandums of understanding (MoUs) to strengthen bilateral cooperation in various areas.

The cooperation documents were signed in a ceremony in Ankara attended by the two countries’ presidents.

The documents covered a range of fields, including higher education, social security, plant maintenance services and standardization.

(Source: Tasnim, under Creative Commons licence)

Russian Companies Submit Plans to Develop Iran Oil Fields

5% Growth Expected in Iran this year

Tags: exports, featured, Turkey

Russian Companies Submit Plans to Develop Iran Oil Fields

By editor on in Oil & Gas

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 Zarubezhneft’s study of the two fields which are shared with Iraq was signed on July 22 last year.

The Russian company signed another MoU with the National Iranian South Oil Company (NISOC) in July this year to conduct technical studies on the Shadegan and Rag Sefid fields.

Last month, Turkey’s Unit International signed a $7 billion agreement with Zarubezhneft and Iran’s Ghadir Investment Holding to explore oil and natural gas development opportunities in Iran.

Russian companies have signed a record number of oil and gas contracts with Iran since the lifting of sanctions on Iran in early 2016.

Gazprom Neft has also submitted its plan to develop Changouleh and Cheshmeh Khosh fields under an MoU signed with NIOC in December last year.

Located 80 km northwest of Dehloran city, the Changuleh oil field is situated in the northwestern part of the North Dezful basin in the Lorestan province.

Lukoil and Indonesia’s Pertamina individually proposed plans to develop the Bangestan reservoir of the Mansouri oil field southeast of Ahwaz.

(Source: Shana)

Iran Keen to Cement Ties with South Africa

Iranian Exports to Turkey Up 80% in 7 Months

Tags: Aban oil field, Changouleh field, Cheshmeh-Khosh field, Dehloran, featured, Gazprom, Gazprom Neft, Ghadir Investment Company (GIC), Indonesia, Lukoil, National Iranian Oil Company (NIOC), National Iranian South Oil Company (NISOC), Pertamina, Rag Sefid oilfield, Russia, Shadegan Oilfield, Turkey, Unit International, West Paydar oil field, Zarubezhneft

Iran Keen to Cement Ties with South Africa

By editor on in Industry

Iranian President Hassan Rouhani said it is the Islamic Republic’s unwavering policy to promote relations with all African nations, South Africa in particular.

Speaking at a meeting with Speaker of the National Assembly of South Africa Baleka Mbete in Tehran on Saturday, President Rouhani described Tehran-Pretoria relations as “cordial and growing”.

He further pointed to the Iranian nation’s support for the South African anti-apartheid struggle led by Nelson Mandela and hailed the development of the ties between the two countries after the 1979 Islamic Revolution.

“The Islamic Republic of Iran is willing to strengthen relations with African countries, especially South Africa, in all areas,” the Iranian president added.

Mbete, for her part, said Pretoria is firmly resolved to boost relations with Tehran in all spheres, particularly parliamentary ties.

Expansion of relations with African nations in all political, economic and cultural fields is top on the agenda of Iran’s foreign policy.

Iranian President Hassan Rouhani, who was re-elected back in May, has repeatedly stressed his government’s interest in boosting relations with the African states.

(Source: Tasnim, under Creative Commons licence)

Brazilian Firms keen on Iranian Oil Projects

Russian Companies Submit Plans to Develop Iran Oil Fields

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There are currently very few countries in the world with Irans conditions and opportunities for investment. After decades of sanctions and separation from international markets, Iran is now ready to take advantage of these opportunities.

These days the top story of some of the worlds most important news media states, Now that a general agreement has been reached on the nuclear issue between Iran and the P5+1, international investors are lining up behind Irans closed doors, ready to enter this countrys market. Once Irans doors open to international financial activities millions, or maybe billions of dollars will flow into the country Economic players in Iran are waiting with open arms for international investors.How to invest in iran Blog is proud to present you with information about Iran and its investment opportunities, standing by your side as a consultant, and a strategic partner, creating the groundwork for a satisfactory experience in Iran.

Welcome to Iran, an investment paradise for years

Global Investment was founded with a single vision, to help small to large enterprises with their strategic entry into the Iranian market by providing unmatched services for companies across all major industries. We can help you enter the hotspots of the market and will support and guide you toward a success story that remains rock-solid for the years to come.

We deliver exceptional insight and advice based on the highest standards of consulting practice using our 10 years of experience in the field. Our perfect blend of proprietary market entry solutions, strong local connections and expertise will assist you with maximizing your business potential in Iran. You can take advantage of our “real touch of the market” and break down entry barriers into the market. We make sure that you avoid making the wrong deals and provide you with Do’s and Don’ts of doing business in our country.

Join The Ultimate And Irreplaceable Experience Now.

Just define your interests, We will promote the best investment opportunities for you

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