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Economy

German Chemical Giant Seeks Catalyst Technical Savvy from Iran

German Chemical Giant Seeks Catalyst Technical Savvy from Iran

TEHRAN (FNA)- German petrochemical heavyweight BASF has ordered 180 tons of methanol synthesis catalyst from Iran's Petrochemical Research and Technology Company (PTRC).

According to the National Petrochemical Company (NPC), Esmaeil Ghanbari, PTRC managing director, said the item was 10 years in the making by PTRC and its quality has been approved by BASF as superior to its production and hence has ordered purchase of 180 tons of the catalyst.

"We are pretty glad that development of petrochemical industry via domestic technologies has become a strategic approach in the country," Ghanbari said.

He further added that BASF is also seeking to purchase the technical knowhow of building the item from PTRC, adding, "We are planning to mass-produce the item." 

 

 

 

 

Economy

Iran 5-Month Gas Exports up 64% Y/Y

Iran 5-Month Gas Exports up 64% Y/Y

TEHRAN (FNA)- Iran's export of natural gas rose by 64% in the first 5 months of the current Iranian calendar year which began on March 21.

Director of International Affairs at the National Iranian Gas Company (NIGC) Behzad Babazadeh said Iran has brought its gas exports to neighboring Iraq from 7 mcm/d to 14mcm/d over the first 100 days of President Rouhani's second term in office.

"NIGC is required to send only 7mcm/d of gas to Iraq but it has risen the gas export volumes to the country in summer due to their demand," he said.

Based on a gas export deal between Tehran and Baghdad, Iran can increase the volume of exports to 35 mcm/d which will be possible once Iran Gas Trunkline VI (IGAT VI) as well as new phases of the supergiant South Pars Gas Field come online, he added.

Moreover, the country's gas exports stood at 50 mcm/d during the 5 months which us 64% more than the same period last year.

 

 

 

 

Economy

Iran Produces 715 mb of Oil from West Karoon Joint Fields

Iran Produces 715 mb of Oil from West Karoon Joint Fields

TEHRAN (FNA)- The National Iranian Oil Company (NIOC) says Iran has recovered over 715 million barrels of oil from the joint field located in West Karoon region, west of the country.

Director of Integrated Planning and Director at NIOC Karim Zobeidi said 87 billion barrels of in-place crude oil is estimated to be in the region's reserves of which over 715 million barrels have been recovered by Iran so far, SHANA reported.

The fields' average recovery rate is 15% and 13 billion barrels of oil can be recovered from the region, he added. 

 

 

 

 

TEHRAN (FNA)- Industrial Development and Renovation Organization of Iran (IDRO) and Turkey's ÇUTAŞ Co. signed a Memorandum of Understanding on environmental issues and urban waste management.

Deputy head of IDRO Group for the development of advanced industries and energy megaprojects Fardad Daliri attended the signing ceremony for the said Memorandum of Understanding on waste management and asserted that industrial, commercial, agricultural and urban wastes are among the most serious problems for industries and urban development.

Asserting that modern technologies can be used to arrive at a nature-friendly solution for the disposal of waste by burning it and turning it into ash, Daliri added “after conducting the necessary research, Turkey will submit a report on this type of cooperation, investment and transference of technology to IDRO Group.”

In a relevant development in late November, a memorandum of understanding (MoU) was signed between Iran and Turkey in a Joint Economic Commission meeting to further cooperation between the two states.

Iran’s Ministry of Industry, Mine and Trade announced that the MoU was signed at the end of the 26th meeting of Iran-Turkey Joint Economic Commission by Iranian Industry, Mine and Trade Minister Mohammad Shariatmadari and Turkish Economy Minister Nihat Zeybekci.

The two ministers also inked a cooperation agreement in the field of technical-engineering. They agreed to cooperate on transfer of technical-engineering services and help their trade in the sector to hit $10 billion per year.

The 26th summit was convened at the Trade Promotion Organization of Iran in Tehran on November 26-27, 2017.

Transit facilitation was one of the most important issues discussed at the meeting. The memorandum signed between the two sides is entitled “transportation and transit facilitation.” This agreement will pave the way for more economic and trade relations between Iran and Turkey.

In a relevant development in October, high-ranking Iranian and Turkish officials in a meeting in Tehran signed four cooperation agreements.

The documents and Memoranda of Understanding (MoUs) which were endorsed in the presence of Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyip Erdogan are related to the two countries' customs and banking ties as well as cooperation between their national libraries and state TV and radio organizations.

After the meeting, President Rouhani underlined that the banking ties between the two countries will further expand and they will increase trade relations using their own national currencies.

 

 

 

 

TEHRAN (FNA)- Tehran and Islamabad have considerably broadened their trade exchanges by trying to remove obstacles to business activities, Iranian Ambassador to Islambadad Mehdi Honardoust announced.

"The situation has been improving as bilateral trade rose by 31 percent last year," Honardoust said on Sunday, addressing a group of officials of Karachi Chamber of Commerce and Industry (KCCI) in Karachi.

The Iranian ambassador said both countries have many commonalities that could not be found between any other countries of the entire region.

“There is a huge potential for cooperation between Iran and Pakistan,” he added.

Honardoust said Iran is keen to develop its relations with Pakistan by focusing on enhancing trade that has continued to grow each year.

In relevant remarks in November, Honardoust underlined that Tehran and Islamabad are resolved to further broaden and strengthen bilateral relations and mutual cooperation.

There are huge potentials for cooperation between the two powers of the region, “with good neighborly ties and whole history of friendship and fraternity”, Honardoust said in an interview with Pakistan's English daily 'The Nation'.

He said Iran and Pakistan are determined to boost relationship, which was “completely opposite to the Western apparatus, creators of division among Muslim societies, which unfortunately has been evident in recent years. The Muslim societies have been under fire of division, which is exactly being pursued by foreign elements.”

 

 

 

 

TEHRAN (FNA)- Major Iranian steelmakers exported 4.56 million tons of semi-finished and finished steel products during the first eight months of the current Iranian year (March 21-Nov. 21), registering a 27% growth compared with last year’s corresponding period, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported.

The IMIDRO data, released this week, are included in a preliminary report on large-scale exports. A more comprehensive and detailed version, including smaller private mills’ performance, often follows in about two weeks' time by the Iranian Steel Producers Association.

Iranian steelmakers’ shipments were continuously on the rise month-on-month save for the seventh and the second month of the Iranian year, respectively.

Khuzestan Steel Company zoomed past all rivals in the period under review, as it exported 1.73 million tons of slab, bloom and billet, up 57% year-on-year.

KSC has sustained a double-digit growth each month so far this year.

The steelmaker located in the southwestern Khuzestan Province, exports to 13 countries. About half of the exports go to the Middle East and North Africa region. Other major export destinations are located in the Far East and Americas.

Isfahan Steel Company was the second biggest exporter during the eight months, with 742,375 tons of beam, rebar, coils and other products shipped overseas, up 83% YOY.

Rebar made up 103,717 tons of ESCO’s overall exports, dropping 3% YOY. It was followed by beam and coil with 72,195 tons and 39,963 tons respectively. Beam shipments were down 30% YOY, while coil exports surged 996%. Steel products listed as "other" made up 526,500 tons of all the exports, up 177% YOY.

Beam and rebar shipments were down, while coil exports recorded a 454% YOY upsurge to 2,800 tons.

Hormuzgan Steel Company retained its spot as the third largest exporter by shipping 777,897 tons of slabs, up 5% YOY. The steelmaker’s exports in the eighth month rose by 8% YOY to 152,738 tons.

As a subsidiary of Iran’s largest steelmaker Mobarakeh Steel Company, HOSCO has outperformed its parent company in exports for five months in a row so far this year.

Mobarakeh took the fourth spot as it exported a total of 727,381 tons of hot and cold-rolled, acid-washed, tin-plated, coated, checkered and galvanized flat steel during the eight months, down 41% YOY.

Together with its subsidiaries, MSC is the largest flat producer in the Middle East and North Africa region, accounting for 1% of Iran’s GDP.

South Kaveh Steel Company came next, as its billet exports stood at 458,000 tons.

Khorasan Steel Company was next with 61,542 tons of rebars exported, up 20% YOY.

Iran Alloy Steel Company took the next rank with 54,553 tons of rebar shipments, up 85% YOY.

As part of the 20-Year Vision Plan (2005-25), the Iranian steel industry aims to become the world’s sixth largest steelmaker by reaching an output capacity of 55 million tons per year by the deadline (2025).

Exports are expected to reach 8 million tons in the current fiscal year, which ends on March 20, 2018.

 

 

 

 

By editor on in Industry

By John Lee.

Iran has been ranked 124th out of 190 countries in the World Bank‘s recent Doing Business 2018 report, down from 120th place the previous year.

Despite the fall in the rankings, the report notes that over the previous year Iran improved access to credit information by reporting data on credit payments from an automobile retailer.

Top of the list were New Zealand, Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Iraq ranked 168th, with Libya 185th.

Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures labor market regulation, which is not included in this year’s ranking.

(Source: World Bank)

BASF seeks Catalyst Technical Savvy from Iran

Tags: Denmark, Doing Business Index, Eritrea, featured, New Zealand, Singapore, Somalia, Venezuela, World Bank

By editor on in Industry

German petrochemical heavyweight BASF has ordered 180 tons of methanol synthesis catalyst from Iran’s Petrochemical Research and Technology Company (PTRC).

According to the National Petrochemical Company (NPC), Esmaeil Ghanbari, PTRC managing director, said the item was 10 years in the making by PTRC and its quality has been approved by BASF as superior to its production and hence has ordered purchase of 180 tons of the catalyst.

“We are pretty glad that development of petrochemical industry via domestic technologies has become a strategic approach in the country,” Ghanbari said.

He further added that BASF is also seeking to purchase the technical knowhow of building the item from PTRC, adding, “We are planning to mass-produce the item.”

(Source: Shana)

Former Central Bank boss denies meeting Zarrab

Iran Falls in Ease of Doing Business Index

Tags: BASF, featured, Germany, National Petrochemical Company (NPC), Petrochemical Research and Technology Company (PTRC), petrochemicals

From Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News.

Iran’s former Central Bank head Mahmoud Bahmani, reacting to Iranian-Turkish tycoon Reza Zarrab’s recent statements in a US court, says he never met with Zarrab.

In his testimony in a New York trial, Zarrab, who was arrested in the United States on March 19, 2016, explained how he helped Iran bypass US sanctions. He said he had meetings with Bahmani and had ties with former Iranian President Mahmoud Ahmadinejad.

During Ahmadinejad’s 2005-2013 presidency, Iran was under heavy sanctions over its nuclear program. Following the 2015 Joint Comprehensive Plan of Action, all nuclear-related sanctions against Iran were lifted.

In an interview with the semi-official ISNA news agency Dec. 12, Bahmani said he had had no meetings with Zarrab.

“I emphasize that I neither had a meeting nor any ties with him. I also don’t think that Mr. Ahmadinejad had a meeting with him either,” said Bahmani, adding, “Mr. Zarrab has just claimed that he had meetings with a number of people to bypass the sanctions; he didn’t say these meetings were for private purposes or the financial [issues Iran was facing].”

In response to a question about Zarrab’s having said he has an audio file of his meeting with Bahmani, the former top Iranian banker stated, “I had no meeting with Reza Zarrab. Suppose that I had such a meeting, holding a meeting is part of my job. The head of the Central Bank can have a meeting with anyone all over the world, but it is important what decisions are taken.”

Pages: 1 2

By editor on in Industry, Oil & Gas

Imam Khomeini Oil Refinery has manufactured a transformer oil recycler to separate water and particles from the oil.

Ali Jamshidi, managing director of the refinery, said the machine has been constructed with the aim of maximizing utilization of oil used in transformers of the facility.

The machine separates moisture and floating particles from oil. It also delays wearing out of the machinery, he added.

The tool can recycle over 400 liters/hour of oil and exploits paper filters for separation of particles as big as 0.5 microns.

(Source: Shana)

Russia Hosting Conference on Iran-North Caucasus Cooperation

Former Central Bank boss denies meeting Zarrab

Tags: featured, Imam Khomeini Refinery, refineries

Swiss-based company Autoneum has concluded an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) for the production and distribution of its multifunctional components for acoustic and thermal management in Iran.

In the future, Ayegh Khodro Toos will produce carpet systems and inner dashes at its plant in Mashhad (Razavi-Khorasan province) for IKAP, a joint venture between Iran Khodro, the Iranian car manufacturer, and PSA, the French automotive group. The first vehicle equipped with Autoneum components, an SUV, will be launched in early 2019.

In order to offer Autoneum’s customers the sought-after product portfolio in the Iranian automotive growth market, the Company has concluded a license agreement with the Iranian automotive supplier Ayegh Khodro Toos for the production of innovative components for noise and heat protection in vehicles.

From the beginning of 2019, Ayegh Khodro Toos will produce carpet systems, inner dashes and floor insulators as well as trunk trims in its Mashhad plant in the northeast of the country for Iran-producing car manufacturers Iran Khodro and PSA.

Supplying additional international and local vehicle manufacturers is planned. In cooperation with Autoneum, Ayegh Khodro Toos benefits from the innovative strength and long-standing expertise of the market and technology leader in acoustic and thermal management. The components developed by Autoneum at its research center in Winterthur, Switzerland, make vehicles lighter, quieter and safer and reduce vehicle weight, fuel consumption and CO2 emissions.

Commenting on the signing of the contract, Martin Hirzel, CEO of Autoneum, said:

“With 80 million inhabitants and just around 1.5 million vehicles produced annually, Iran is one of the global growth markets and a central automotive hub for the Middle East, Far East and the Caucasus region.

“In view of the strong sales potential and the need of our international customers for lightweight components for acoustic and thermal management for regional vehicle production, we are convinced that we have found an optimal solution with our license partner Ayegh Khodro Toos. Autoneum’s innovation leadership and the manufacturing expertise of Ayegh Khodro Toos complement each other, ensuring the market-oriented launch of the Autoneum product portfolio in Iran.”

Hossein Yazdanbakhsh, Managing Director of Ayegh Khodro Toos, explained:

“We are very excited about the partnership with Autoneum and are proud that the market leader in acoustic and thermal management has decided on Ayegh Khodro Toos. Due to our knowledge of the Iranian vehicle market and years of operational expertise, car manufacturers in Iran will now also benefit from the highest product quality.”

Ayegh Khodro Toos develops and produces sealants and dampers for the automotive, rail and marine industries. Founded in 1999, the company is the first manufacturer of bituminous magnetic vibration and sound damping pads in Iran. In Mashhad, in northeastern Iran, Ayegh Khodro Toos employs around 80 people. The Company’s customers include the French automobile manufacturers PSA and Renault-Nissan as well as Iran Khodro and other Iranian manufacturers.

(Source: Autoneum)

By editor on in Uncategorised

The Industrial Development & Renovation Organization of Iran (IDRO Group) has signed a deal with Austria’s HOT Engineering for carrying out studies on Susangerd Oilfield in Iran.

The group had previously signed a cooperation deal with the National Iranian Oil Company (NIOC) for developing the field.

The document entails putting together a master development plan (MDP) by the Austrian company for developing the field, head of IDRO Executive Board Mansour Mo’azzami said.

HOT is a leading E&P reservoir consultancy and knowledge transfer organisation with headquarters in Austria, branch offices in Germany, UAE and Libya and a global network of representative offices.

(Source: Shana)

Iran Boosts Condensate Exporting Capacity

Autoneum enters Iran Growth Market

Tags: Austria, DJ, featured, HOT Engineering, Industrial Development and Renovation Organization of Iran (IDRO), National Iranian Oil Company (NIOC), Susangerd oilfield

By editor on in Construction, Oil & Gas, Transport

Iran has improved Asalouyeh Gas Condensate Export Terminal so that three vessels can call at the terminal for loading gas condensate (ultralight crude oil) at the same time.

Head of the terminal Gholamabbas Heidari said very important measures have been taken in the terminal for facilitating export of the item which include bolstering infrastructures as well as enhancing berthing, delivery and loading capacity of the terminal.

By improving is export capacity, the Iranian Oil Terminals Company (IOTC) has been able to meet international standards in various operational sectors, he added.

(Source: Shana)

Tehran, Baghdad sign One-Year Oil Swap Deal

Austrian Company signs Study Deal with IDRO

Tags: Asalouyeh, Asalouyeh Gas Condensate Export Terminal, featured, gas exports, Iranian Oil Terminals Company (IOTC)

By editor on in Oil & Gas

Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year.

“This is an agreement for one year and then we will see after that whether to renew it,” Luaibi told reporters in Kuwait City on the sidelines of an Arab oil ministerial meeting, Reuters reported.

The agreement signed on Friday by the two OPEC countries provides for Iran to deliver to Iraq’s southern ports “oil of the same characteristics and in the same quantities” as those it would receive from Kirkuk.

The deal in effect allows Iraq to resume sales of Kirkuk crude, which have been halted since Iraqi forces took back control of the fields from the Kurds in October.

Between 30,000 and 60,000 bpd of Kirkuk crude will be delivered by tanker trucks to the border area of Kermanshah, where Iran has a refinery.

The two countries are planning to build a pipeline to carry the oil from Kirkuk, so as to avoid trucking the crude.

The pipeline could replace the existing export route from Kirkuk via Turkey and the Mediterranean by pipeline.

(Sources: Tasnim, under Creative Commons licence; Iraqi Ministry of Oil)

Banking Problems between Iran & UK being Removed Gradually

Iran Boosts Condensate Exporting Capacity

Tags: Disputed territory, featured, Iraq, Kirkuk, Kirkuk Oilfields, Kurdistan News, oil swap, Turkey

TEHRAN – The 24th international exhibition of printing, packing and related machinery kicked off on Wednesday at the Tehran Permanent International Fairground.

More than 650 companies from Iran and 12 other countries including Italy, Sweden, England, Switzerland, Spain, Austria and Japan will showcase their latest products and services during the four-day event, IRNA reported.

A conference and four specialized workshops in various fields of printing and packaging industry are also scheduled to be held on the sidelines of the exhibition.

EF/MG

TEHRAN – A new shipping route between Iran and Oman will be launched in late December.

It will connect Iran’s port city of Khorramshahr to the Omani port of Sohar, Trade Promotion Organization of Iran reported, citing Abbas Abdolkhani the Iranian commercial attaché in Oman.

The first shipping route between the two countries was put into operation in March 2015 between Iran’s Bandar Abbas and Oman’s Sohar.

“Operated by an Iranian privately-owned company, the service will run every two weeks for one year and will be increased in the future,” the official said.

In December 2016, Iran and Oman inaugurated direct shipping routes from two Omani ports to the Iranian port of Shahid Bahonar.

EF/MG

TEHRAN – China’s private sector is eager to meet its energy needs through Iranian energy resources, Shana quoted the head of China International Chamber of Commerce for the Private Sector as saying on Tuesday.

Wang Yanguo made the remarks in a meeting with Iranian Oil Minister Bijan Namdar Zanganeh in Tehran.

“China has a shortage of energy resources, while Iran, our old friend, has rich oil and gas reserves, which can help expand relations between the two countries,” Yanguo said.

Zanganeh, for his part, said the two countries have the potential to boost cooperation in private investments as well as oil and petrochemical projects.

China is the main buyer of Iranian crude oil. Chinese imports from Iran in September rose nearly 60 percent from a year ago to about 784,000 barrels per day, down from August when China imported the highest monthly amount since 2006, according to a Reuters report. 

EF/MG

Photo Caption: Iranian Oil Minister Bijan Namdar Zanganeh (R) receives a gift from Wang Yanguo, head of China International Chamber of Commerce for the Private Sector, on the sidelines of a meeting in Tehran on Tuesday.

TEHRAN - French oil and gas consulting company Beicip-Franlab S.A. signed an agreement with Iran’s Research Institute of Petroleum Industry, also known as RIPI, for conducting studies to develop Homa gas field in southern Iran.

Based on the agreement, the French company will prepare a development plan and also share knowledge on advanced upstream processes, Shana reported on Wednesday quoting Touraj Behrouz, an official with RIPI.

The project aims to come up with a mechanism for controlling the field’s water influx and increasing recovery factor.


EF/MG

TEHRAN - Russia's energy giant Gazprom signed a memorandum of understanding with the National Iranian Oil Company to cooperate in the Iran LNG project which is estimated to cost $4 billion.

Gazprom CEO Alexey Miller and NIOC Managing Director Ali Kardor signed the agreement in Tehran on Wednesday.


On the sidelines of the signing ceremony, Iranian Oil Minister Bijan Namdar Zanganeh said the method of cooperation will be specified in coming months, Shana reported.


As per the agreement, Gazprom should conduct financial and technical studies over the course of six months and finalize its offer for holding a stake in the project.


Miller said for his part that the Russian company will present results of study on four Iranian gas fields, namely Farzad A, Farzad B, North Pars, and Kish in the first quarter of 2018 to the Iranian Oil Ministry.


MG
 

TEHRAN – Tehran is scheduled to host the 14th Iran-Belarus joint economic committee meeting on January 22-23, 2018.

The previous joint economic committee meeting had been held in Minsk in May 2016, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture reported.

During the 13th meeting of Iran-Belarus joint economic committee, the two countries inked an economic cooperation roadmap for 2016-2017, according to which bilateral trade will reach $250 million per annum, up from the current $75 million.

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TEHRAN - Swiss Company Autoneum signed an exclusive license agreement with Iranian automotive supplier Ayegh Khodro Toos (AKT) to jointly produce and distribute components in Iran, Reuters reported citing the company.

AKT will produce carpet systems and inner dashes at its plant in Mashhad for IKAP, a joint venture between carmaker Iran Khodro and PSA, the French automotive group.

The first vehicle equipped with Autoneum components, a sport utility vehicle, will be launched in early 2019, the Swiss group said.

EF/MG

TEHRAN – Iran is considering the use of domestic finance for the purchase of Airbus and Boeing airplanes, Tasnim reported on Tuesday quoting an official with flag carrier Iran Air.

“We prefer to use domestic finances rather than depending on foreign financers,” Iran Air public relations director Masoumeh Asgharzadeh said.

The official noted that some fruitful negotiations have been done in this regard and the flag carrier will make announcements in the near future.

She further asserted that both Airbus and Boeing have expressed readiness to directly fund the purchases in case of lacking domestic finance offers.

Airbus, Boeing reps in Tehran next week

According to Asgharzadeh, representatives of Airbus and Boeing are due to visit Tehran next week to discuss financial issues.

Iran Air inked a deal with Boeing on December 11, 2016 to buy 80 aircrafts valued at $16.6 billion. 

The national flag carrier also signed a deal with the French giant plane maker Airbus on January 28, 2016 for the purchase of 118 Airbus jets worth $27 billion.

EF/MG

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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.

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