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Zanganeh Re-elected for Another 4 Years

By editor on in Oil & Gas

Bijan Namdar Zanganeh was reappointed as the Minister of petroleum by obtaining 230 votes in favor, in parliament (Majlis) on Sunday.

He has gained the majority of MP’s vote of confidence and has re-elected as the Minister of Petroleum in the cabinet of President Hassan Rouhani for another 4 years.

Bijan Zangeneh was born on March 1331 in Kermanshah, who won today’s confidence vote for the tenth time to gain the confidence from the parliament.

He has 26 years of experience as a minister in three key ministries of oil and energy and Jihad construction organization so far.

The official who is well respected among OPEC colleagues, is credited with ramping up Iran’s oil production after the lifting of sanctions against Tehran, and a recent deal with French oil major Total.

Zanganeh, who has been graduated from Tehran University, has studied Master of Civil Engineering, and has started his political career since 1979, in the cabinet of Mohammad Ali Rajaee, as Deputy Minister of Culture and Islamic Guidance.

(Source: NIOC)

Essar Oil’s Iran Debt expected to be Paid

Inpex to Return to Azadegan Oil Field?

Tags: cabinet, featured

Essar Oil’s Iran Debt expected to be Paid

By editor on in Oil & Gas

By John Lee.

India’s Essar Group has completed the sale of its 98.26-percent holding in Essar Oil to Russia’s Rosneft and partners.

Rosneft will take a 49.13 percent stake in Essar Oil, with a consortium of Trafigura and United Capital Partners (UCP) taking an equal stake, Essar Oil said in a statement.

Essar Oil still owes Iran about 2 billion euro for crude oil purchases; according to a report from Bloomberg, this will be paid by the company under its new owners, subject to necessary approvals.

(Sources: Essar Group, Bloomberg)

Saudi Arabia engages Iraq to Iran’s Dismay

Zanganeh Re-elected for Another 4 Years

Tags: Essar Oil, featured, India, Rosneft, Russia, Trafigura, United Capital Partners (UCP)

Saudi Arabia engages Iraq to Iran’s Dismay

By editor on in Oil & Gas, Politics, Security

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

Pictures displaying Iran’s Quds Force commander Gen. Qasem Soleimani during the battles with the Islamic State stopped circulating online with the military phase that ended in the liberation of Mosul. The Iranian presence and support for the Iraqi forces were absent in the liberation battles.

Simultaneously, Iraqi officials visited Saudi Arabia and Arab Sunni states that cheer for the Saudi axis. Sadrist leader Muqtada al-Sadr visited the United Arab Emirates (UAE) on Aug. 13-15, with clerics and politicians welcoming him as an Iraqi leader.

Prominent Sunni Iraqi cleric Ahmed al-Kubaisi and leading politicians met with Sadr during his visit to the UAE. This was only a few days after his visit at the end of July to Saudi Arabia, where Crown Prince Mohammed bin Salman and other officials had welcomed him.

In the wake of the visit, Saudi Arabia took various measures in favor of Iraq, such as announcing the opening of a Saudi Consulate in Najaf, where Sadr lives. Iraq’s most senior Shiite cleric, Grand Ayatollah Ali al-Sistani, did not object to this proposition, as in the past he had called for openness in relations.

For its part, Iran strongly criticized Sadr’s visit to Saudi Arabia and the UAE. Tasnim website, which is close to Supreme Leader Ayatollah Ali Khamenei, considered the visit a betrayal of the Yemeni people who have been fighting the Saudis for more than a year. Tasnim also accused Saudi Arabia of taking advantage of the Sadrist movement and seeking influence gateways in Iraq.

Sadr’s upcoming visit to Egypt was also announced, in addition to a series of visits by prominent Iraqi officials including the prime minister and the ministers of interior, foreign affairs, oil and transportation to Saudi Arabia. Iran, Saudi Arabia’s regional enemy, did not receive such high-level visits.

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Ukraine Can Facilitate PetChem Exports to Europe

Essar Oil’s Iran Debt expected to be Paid

Tags: featured, Iraq, Iraqi Kurdistan, Saudi Arabia, United Arab Emirates (UAE)

Ukraine Can Facilitate PetChem Exports to Europe

By editor on in Oil & Gas

The Head of the National Petrochemical Company of Iran (NPC) Marzieh Shahdaei said Ukraine can facilitate exports of Iranian petrochemical products to Europe.

In a meeting with Ukraine’s Ambassador to Tehran Sergei Buldiliak on Monday, Shahdaei called for enhanced cooperation between Tehran and Kiev in the sector of energy, Shana news agency reported.

She added that Ukraine could serve as Iran’s gate to Europe and help the country export its products to the European market.

“Formation of an export hub for Iran’s petrochemical products to Europe in Ukraine and considering Ukraine’s refinery products for consumption as petrochemical feedstock for the formation of petrochemical facilities in the country were among the topics discussed during the meeting,” the Iranian deputy oil minister said following her talks with Buldiliak.

Iran’s exports of petrochemicals to Ukraine increased by 70% in the first 6 months of 2017 compared to the same period last year.

(Source: Tasnim, under Creative Commons licence)

Video: Iran to quit Nuclear Deal if US keeps Adding Sanctions

Saudi Arabia engages Iraq to Iran’s Dismay

Tags: featured, National Petrochemical Company (NPC), petrochemicals, Ukraine

Video: Iran to quit Nuclear Deal if US keeps Adding Sanctions

By editor on in Politics, Security

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News.

President Hassan Rouhani warns that Iran could abandon its 2015 nuclear deal with world powers within hours if the United States keeps on imposing new sanctions as he outlines plans for his new term.

Iran, Russia, Turkey Sign $7bn Drilling Deal

Ukraine Can Facilitate PetChem Exports to Europe

Tags: featured, Joint Comprehensive Plan of Action (JCPOA), nuclear deal, Rouhani, sanctions, United States

Iran, Russia, Turkey Sign $7bn Drilling Deal

By editor on in Oil & Gas

Turkey’s Unit International announced it has signed a $7 billion agreement with Iran’s Ghadir Investment Holding and Russia’s state-owned Zarubezhneft to drill for oil and natural gas in Iran.

In a statement, Unit said the three companies had invested a total of $7 billion for the drilling, which would take place at three oil fields and one large natural gas field in Iran.

It added that the consortium will also be able to drill in other parts of Iran, Reuters reported.

Unit said all three companies had signed the agreement as equal partners, and added that this marked the first trilateral deal an Iranian company signed with foreign partners.

The total reserves at the three oil fields stand at 10 billion barrels, and the fields will produce 100,000 barrels per day, the report, adding the natural gas field had a production capacity of 75 billion cubic meters per year.

(Source: Tasnim, under Creative Commons licence)

Iran “Freezes Assets of BBC Persian Staff”

Video: Iran to quit Nuclear Deal if US keeps Adding Sanctions

Tags: drilling, featured, Ghadir Investment Company (GIC), Russia, Turkey, Unit International, Zarubezhneft

Iranian, German carmakers to jointly produce cars

Talking to the Islamic Republic News Agency (IRNA) on Saturday, Mohsen Salehi-Nia Deputy Minister of Industry and Trade for Industries Affairs said the preliminary measures have been taken to launch the joint production line for the new car.

Salehi-Nia added that no agreement has been inked so far regarding the issue, but once the deal signed between representatives of the two sides, the agreement could be considered as one of the achievements made by the Islamic Republic following the nuclear deal and implementation of the landmark international agreement, also known as the Joint Comprehensive Plan of Action (JCPOA).

On July 4, Volkswagen announced that the company will begin the sale of vehicles in Iran in August.

Initially, Volkswagen’s Tiguan and Passat models are to be imported under a contract concluded with the Iranian automotive company Mammut Khodro.

The Volkswagen brand will thus again have a presence in the Iranian market after more than 17 years, and is systematically developing further worldwide market potential.

‘By returning to Iran, the Volkswagen brand is filling in another blank spot on the global automotive map. We are thus strengthening our international presence still further. At the same time, we are taking our very latest models with premium features to our Iranian customers’, Anders Sundt Jensen, project manager for the Iranian market at Volkswagen, said.

Turk investors pay for 5,000 megawatts electricity generation in Iran

He made the remarks on the sidelines of foreign investment meeting of Yazd Investment Services Center.

Sajdei said currently two sites to generate 2,000 megawatts electricity in the cities of Saveh and Zahedan handed over to Turkish company and other related affairs are underway.

He also acknowledged about signing memorandum of understanding (MoU) with three companies from South Korea, Japan and France to generate 3500 megawatts electricity and said that the MoU have been signed with the three companies and negotiations to sign contract is underway.

Sajdei said that time period for guaranteed purchase electricity from foreign investors is determined in the contracts and upon agreement and contract, the investors may sell their generated electricity in free market or sell their power plant to the government after expiration of the period.

Yazd province in attracting foreign investors and preparing necessary infrastructures to absorb investment, especially in the fields of solar energy and generating electricity is among flag-bearers provinces of Iran.

Total returns with 4.8-billion-dollar investment to Iran

Being the first to be signed in the new format of Iran’s oil contracts which lead to technology transfer to Iran, the Total deal is considered a turning-point to start a new era in the Iranian oil industry.

The deal is to be signed by Iranian Minister of Petroleum Bijan Zangeneh, the Total and other beneficiary managers.

The primary agreement to develop South Pars 11 project was signed on November 8, 2016 between the NIOC and the mentioned consortium, including the Total, the Chinese National Petroleum Corporation (CNPC), Petropars, with the presence of Zangeneh, President Middle-East and North Africa of Total Exploration and Production Stephane Michel, and CEO of CNPC Middle East Zhu Junfeng.

The deal is the biggest natural gas contract Iran has signed after the January 2016 nuclear deal with G6 to lift the sanctions on Iran.

IDB to finance 125m euro loan for Tehran WWTP project

Jalali Amin further told reporters that the credit will be spent on the project for establishment of a tunnel for transfer of sewage in the western part of the capital city (the Western Tehran Wastewater Treatment Plant (WWTP) and on sewage treatment center in Southwestern part of the city.

The official said the IDB has thus far paid portion of the cash and the rest will be provided gradually as the project advances.

Iran-Total deal in petchem to reap $2bn investment

Ministry of Petroleum on Tuesday quoted Shahdaie as saying, “In case of a final agreement, Total will invest up to two billion dollars in Iran’s petrochemical industries.”

Outlining talks between National Petrochemical Company (NPC) of Iran and French Total Company for establishment of new petchem facilities in Iran, Shahdaie said based on the latest talks, the petrochemical facilities will operate with the capacity to yield about 2.2 million tons of petrochemical and polymer products annually.

She announced that for the time being, agreement has been reached for establishment of two facilities for production of a special grade of polyethylene, each facility running with 500,000 tons annual production capacity.

Shahdaie added that furthermore, agreement has been reached for construction of a cracker ethane facility to turn ethane into ethylene – 1,200,000 tons a year production capacity.

The NPC top official said the most important specification of contract with Total and its likely partnership in petrochemical projects is transfer technology for production of a special kind of polyethylene in Iran.

Iran’s annual petrochemical production capacity stands at 62 million tons and by the end of this year (March 20, 2018), the figure will reach 72 million tons when six new projects come into stream. The total value of net sale of the products will rise up to $17 billion.

National Iranian Oil Company (NIOC) and an international consortium, led by French Total company, signed Iran’s new oil contract in the post-sanction era for development of the phase 11 of South Pars.

Under the $4.8 billion gas deal, 56 million cubic meters of gas will be added to Iran’s capacity to extract gas from South Pars gas field common with Qatar.

500% increase in Iran’s exports to Europe

According to the Statistical Office of the European Communities (Eurostat), the comparison also shows 127% increase in commercial exchange between Iran and EU countries, reaching from € 2.9b to € 6.55b.

Europe’s exports to Iran also show a 44% increase, reaching € 3.15b. It was € 2.17b in the first four months of 2016.

The changes are due to termination of oil sanctions and Europe’s restarting to buy oil from Iran.

Zarif: Iran can be reliable trade partner for Germany

“Iran can be a trustworthy partner in joint production of goods and exporting them to the regional countries, especially Central Asia,” Zarif said in a meeting with German Economy Minister Brigitte Zypries in Berlin on Tuesday.

He said that the Iranian businessmen and Germany’s commercial society have mutual trust in each other.

“The time is now ripe for Iran and Germany to broaden their economic cooperation and naturally banking cooperation paves the way for increasing the economic and trade relations between the two countries,” Foreign Minister Zarif said.

The German economy minister, for her part, pointed to the age-old relations between the two countries, and said, “Iran-Germany relations are at a satisfactory level and a large number of Germans visit Iran every year.”

She said that Germany’s export insurance known as Hermes is interested to guarantee investment projects in Iran, especially in the sectors such as energy and electricity.

Khuzestan electricity company signs MoU with French investor

He said in direction of expanding usage of renewable energies technologies, clean energy and absorbing foreign investment, the MoU was signed by Green Coast Solution to design, finance and execute projects to build renewable power plants.

Dasht-e-Bozorg said that investment capacity to build more than 2,000 megawatts of different renewable power plants, photo voltaic, solar, thermal, wind, waste-to-energy plant exist in Khuzestan and Kohgiloyeh va Boyer Ahmad provinces.

These two provinces are operational field of KREC.

Iran, Germany to broaden banking cooperation

The two ministers met on the sidelines of the annual meeting of European Council on Foreign Relations (ECFR).

Schäuble, underlining the JCPOA implementation, welcomed banking cooperation between Tehran and Berlin.

He said German banks are ready to upgrade cooperation with Iran.
Zarif arrived in Berlin on Monday morning.

He is to meet President of Germany Frank-Walter Steinmeier and Foreign Minister Sigmar Gabriel later.

Iran, Azerbaijan Republic boost 75% of their non-oil exchanges

He made the remarks in meeting with East Azarbaijan Province Governor General Esmaeil Jabbarzadeh here on Tuesday.

Huseynov said while our trade exchanges with Iran increased, it was reduced by other neighboring states.

The ambassador said that Azeri people trust Iranian physicians and medicine and around one million Azeri tourists visit Iran each month.

Over past years, 5,000 trucks transit goods between the two countries, now it reaches to 15,000, Huseynov said.

He underlined the rise in economic exchanges between the two countries and said that Tabriz Bazaar is historical and world famous market and our country is ready to increase economic and commercial relations with Tabriz businessmen and set up Tabriz Bazaar in Baku.

He said by launching railways between the two countries, the possibility to export Iranian goods to Europe through the Republic of Azerbaijan Republic will be prepared.

Concerning several visits of presidents of the two countries in the past four years, Huseynov said the results of the meetings were activation of the private sectors.

Iran’s Shamkhani, Syrian PM meet in Tehran

Tehran (ISNA) - Secretary of Iran’s Supreme National Security Council Ali Shamkhani met with Syrian Prime Minister Imad Khamis in Tehran on Sunday, discussing the latest development in the region and bilateral relation.

Referring to the continuation of an all-out effort to liberate the occupied territories of terrorists in order to restore security and peace to Syria, Shamkhani stressed on the pursuit of the intra-Syrian talks simultaneously in order to reaching a national consensus.

“Instead of fighting terrorist elements, Western countries and the US take suspicious measures in line with strengthening terrorism and worsening insecurity in the region,” Shamkhani said, warning that the harmful effects of such moves “will lead to the spread of terrorism in the world.”

The Iranian official further emphasized that peace will be restored to the region and consequently the European countries, shortly after the West ends its financial, technical and weaponry support for terrorists.

Iran's top security official says US airstrikes on Syria’s northern province of Raqqah using banned weapons amount to genocide in the war-stricken Arab country.

Referring to high civilian death toll in Raqqah, Shamkhani said the US air raids amounted to genocide as American warplanes used banned weapons and ammunition in their attacks.

Shamkhani emphasized that the Islamic Republic will continue to stand by Syria and keep up its support for the nation until the crisis is over in the Middle Eastern state.

The Syrian premier, for his part, briefed Shamkhani on his country's latest developments and achievements in the battle against terrorism and for the political settlement of the conflict.

He also thanked Tehran for backing the Syrian people and government, adding that the restoration of security to Syria depended on some countries stopping their support for terrorists.

End Item

Selection process for Mustafa Prize Nominee reaches to final stage

Tehran (ISNA) – The seventh meeting of policy-making council of the Mustafa(pbuh) Prize aimed at finalizing the selection of second round laureates was held in Tehran.

Seventh meeting of policy-making council of the Mustafa(pbuh) Prize was held with the participation of the Chairman of the council Prof. Sorena Sattari, Secretary of the Mustafa(pbuh) Prize's Policy Making Council Mahdi Saffarinia, and other individual and legal members.

Coordinator General of Standing Committee on Scientific and Technological Cooperation of the OIC (COMSTECH) Prof. Shaukat Hameed Khan, and vice-chancellor of the University of Karachi, Pakistan Prof. Muhammad Ajmal Khan also attended the meeting through video conferencing as the other member of this council.

In this meeting which aimed at finalizing the selection of the 2017 laureates, Sattari said, “A great work under the name of the Mustafa(pbuh) Prize is running now and whole amount of this prize is being financed by nongovernmental resources”.

Meanwhile the head of the Mustafa(pbuh) Prize scientific committee Hassan Zohoor presented a report on the committee performance about how the works have been reviewed and selected in primary and final stages.

 “while primary assessment was done in February 2017, final selection was accomplished in May and extended until end of June. In this period 241 works from 34 countries were received by the Science and Technology Foundation (MSTF) office and were assessed,” Zohoor added.

Presenting a report on evaluating submitted works, Prof. Saeed Sarkar, the head of the group in all areas of science and technology said, “Ones who are not Muslim but citizen of OIC member countries can also be nominated for the Prize. Currently we have received lots of works by the scientists and researchers; but in selection process we ultimately select individuals who had an outstanding work along with a best résumé”.

During the meeting, the heads of scientific groups of the Mustafa(pbuh) Prize, also presented their reports on the process of evaluating received works and criteria used to select the appropriate ones, as the laureates.

As presenting a report on the performance of the MSTF, since the first round,  Saffari Nia said that the call for the Mustafa(pbuh) Prize has been widely announced worldwide to more than 1622 scientists of outstanding scientific and technological levels in 30 countries, 363 university and research centers.

President of MSTF mentioned that the strategy and the road map of the MSTF have already been prepared which will be announced at the next meeting after the approval of charter.

“Through consultation and collaboration, we are trying to registration of branch offices of MSTF in different countries,” he added.

Referring Noor Student Competition as one of the MSTF events, Saffari Nia also said, “The ceremony of the first round of the competition was held on Tehran's Howzeh Honari last year. Of the 1600 submitted science movies, awards ceremony honored 200 students for their significant achievements. Yet the second round of Noor Student Competition; Recognition of Prof. Jackie Ying will also be held on September first, 2017, coinciding with the anniversary of Eid al-Adha.”

Noting to the MSTF project to involve university students, President of MSTF said, “we are on the verge of creating new club which will be called Safir Al-Mustafa(pbuh) and a scientific competition- under the title of KANS (Knowledge Application and Notion for Society). Similarly, in order to enhance cooperation between Muslim scientists across the world, MSTF has made a plan called Science and Technology Exchange Program (STEP) in Islamic Countries, which will be held annually in one of the Islamic countries”.

“Introduction of the Mustafa(pbuh) Prize at several scientific conferences, the membership of the ECOSF in the Mustafa(pbuh) Prize Investment and Endowments Fund (MPIEF), membership of Chairman of The Research Council of Oman in the International Advisory Board of the MSTF, production of more than 300 news and reflecting them by more than 400 media around the world, the production of 65 multimedia content and  inquiring registration of the award winning prize in WIPO and other activities were some of the activities of MATF during this time,” he continued.

It is worth noting that second round of the Mustafa(pbuh) Prize will be awarded on December 3rd 2017 in Vahdat Hall, Tehran and the name of the laureates will be formally announced before the ceremony through a especial program.

End Item

“Oxidan” to release in screens abroad

فیلم اکسیدان

Tehran (ISNA) – The international screen of the Iranian film "Oxidan" will be begun from August 13.

Directed by Hamed Mohammadi, "Oxidan" will be screened as of August 13 on the cinema screens in North America and Canada. Its first screen in Canada will be in the city of Toronto.

This film tells the life of two young people who would like to get married but the girl loves to settle abroad so she illegally immigrates to a foreign country and her fiancé does something weird to bring her back to Iran.

End Item

Iran wins 4th place in International Army Games 2017

Tehran (ISNA) - Al-Mahdi Airborne Brigade of Special Forces who represented Iran in the International Army Games 2017 won the 4th place at the end of the competitions.

The International Army Games 2017, which will end on August 12, comprises 28 events held in Russia, China, Azerbaijan, Belarus and Kazakhstan.

In the Chinese portion of the event held in Guangshui, Hubei province, Al-Mahdi Airborne Brigade of Special Forces, from the Armed Forces of the Islamic Republic of Iran, won the 4th place.

In the field of Suvorov attack each team used its infantry fighting vehicles to cross obstacles that engaged firing targets and finishing three rounds of individual and relay races.

China, Russia, Angola, Iran, Zimbabwe, and Venezuela vied in the competition.

In the field of Clear Sky the competition focused on man-portable air-defense system (MANPAD). Each team used their MANPADS to fire at flying targets.

China, Russia, Belarus, Uzbekistan, Egypt, Iran, and Venezuela vied in the competition. All participants used Chinese military equipment.

In the field of Safe Environment which was a competition on nuclear, biological, and chemical reconnaissance, each team searched for radioactive sources and conducted decontamination.

China, Russia, Belarus, Egypt, and Iran were the participants in the field.

Gunsmith Master was the field of competition in the maintenance section. Each team competed in the area of dismantling and repairing multiple guns. China, Russia, Kazakhstan, Uzbekistan, and Iran were the participants in the field.

While these four fields were competed in Korla, Xinjiang Uygur Autonomous Region, the Airborne Platoon was held in Guangsui.

End Item

Italian FM to visit Tehran

ظریف و معاون وزیر خارجه ایتالیا

Tehran (ISNA) - In a Sunday meeting with Iran’s foreign minister Mohammad Javad Zarif, Italian undersecretary of State for Foreign Affairs Vincenzo Amendola expressed his pleasure of being in Iran.

The Italian official also announced that his country’s foreign minister is going to travel to Iran.

Italian deputy foreign minister further noted that Italian companies and investors are ready to work with Iran.

Zarif, for his part, referred to the economic projects underway in Iran, and said there is a good potential for the development of activities of Italian firms in Iran.

The two sides also exchanged views on the implementation of the JCPOA, regional issues, in particular Syria and the Astana talks, and the fight against terrorism, especially ISIS.

End Item

<div>Iran's red gold exports increase</div>

Tehran (ISNA) - The export of Iranian saffron has increased 25 percent in the first four months of the Iranian year (started on March 21) compared to the same date last year.

During the period, Iran exported more than 58 tons of saffron to 50 countries around the world with a value of over $78 million which shows an increase of 25.30 percent in weight and 22.91 percent in value.

Spain, Australia, South Africa, Afghanistan, Germany, United Arab Emirates, Great Britain, United States, Italy, Bahrain, Belgium, Bangladesh, Pakistan, Taiwan, Turkey, Czech Republic, South Korea, China, Japan, Singapore, Sweden, Switzerland, Iraq, Oman, France, Philippines, Qatar, Canada, Kuwait, Lebanon, Malaysia, Nepal, New Zealand, Netherlands, Hong Kong and Greece were the customers of Iranian saffron during the period.

End Item

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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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