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Why Invest in Iran ?

There is no doubt, Iran has a lot of potential. It is a country that boasts a domestic market of 70 million people, 11% of the world’s proven oil reserves, 15% of the world’s proven gas reserves, 11 petrochemical complexes, 3 major steel plants and much more.

Best Investment in Iran !

Based on the client requirement, different investment plans suits and fulfill your business and invest requirement.


Highest education rate in region

Low Costs

Cheap and abundant raw materials, energy and transportation


High rate of Internet penetration and access to online shopping (74%)

Tax Free Zones

Iran has dozens of Tax Free & Special Economy zones

(-0.1%) -4 4,074 price_dollar (-0.06%) -3 4,785 price_eur (0.02%) 1 5,436 price_gbp -- 1,118 price_aed (0.08%) 10,000 12,910,000 sekeb (-0.02%) -3,000 13,494,000 sekee (0.15%) 10,000 6,820,000 nim (0.26%) 10,000 3,867,000 rob (0.79%) 20,000 2,540,000 gerami (-0.17%) -2,080 1,249,440 geram18 (-0.17%) -2,770 1,665,910 geram24 (-0.17%) -9,000 5,412,000 mesghal -- 1,283.84 ons (-0.01%) -10 934.90 platinum -- 17.09 silver (0%) -2 1,014.65 palladium (-0.04%) -2 56.81 oil -- 63.55 oil_brent (1.64%) 102 62.07 oil_opec (-0.01%) -120 87,897.4 bourse -- 1,079 price_try (-0.31%) -2 635 price_cny (88.89%) 32 36 price_jpy (0.03%) 1 3,270 price_cad (0.03%) 1 3,206 price_aud (90%) 2,673 2,970 price_nzd (-0.12%) -5 4,143 price_chf (89.66%) 52 58 price_afn (0.21%) 1 486 price_sek -- 634 price_dkk (0.2%) 1 498 price_nok (0.75%) 100 13,400 price_kwd (0.09%) 1 1,080 price_sar (90.03%) 975 1,083 price_qar (0.47%) 50 10,600 price_omr (100%) 3 3 price_iqd -- 9 price_syp -- 64 price_inr (89.74%) 35 39 price_pkr (90%) 2,700 3,000 price_sgd (34.62%) 278 803 price_hkd (0.1%) 1 998 price_myr (0.78%) 1 128 price_thb (8.82%) 6 68 price_rub (0.42%) 10 2,400 price_azn (0.23%) 25 10,700 price_bhd

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Tehran (ISNA) - Iran and Syria have signed a contract in the field of electricity industry worth $1.2 billion to restore power plants and produce electricity in Syria.

The Syrian electricity minister Mohammad Zuhair Kharboutli said, “Considering the capabilities of Iran in the electricity industry, Tehran and Damascus have signed the $1.2 billion contract to produce electricity in Syria.

Stressing that the Iranian companies have high technology in the field of electricity, the Syrian minister added, “The civil war has caused the destruction of Syria's infrastructure and more than 50% of the country's electricity systems have been destroyed but Damascus is trying to restore them with the help of Russia and Iran”.

End Item

Tehran (ISNA)-Over October 2017, Iran Mercantile Exchange witnessed trading of more than 2 million and 699 thousand tonnes of commodities worth over $1,378 million, experiencing a growth of 29% and 30% in the trade value and volume respectively.

According to the report by the IME’s International Affairs and PR, during the last month, the agricultural trading floor witnessed trading of more than 223,165 MT of commodities worth 68 million USD.

Based on the report, 383,000 day old chicks, 191,000 MT of wheat, 29,175 MT of sugar, 2,350 MT of meals, 237 MT of feed barley and 20 MT of frozen chicken were traded on this trading floor.

The report declares that the oil and petrochemical trading floor of IME played host to trading of 1,639,204 MT of commodities worth more than 760 million USD.

On this trading floor, more than 661,370 MT of bitumen, 295,532 MT of polymer products and 10,0388 MT of chemical products, 415,500 MT of VB feed stock, 90,500 MT of lube cut oil, 61,080 MT of sulfur, 60 MT of argon gas, 9,370 MT of insulation, 1,000 MT of slaps waxes and 3,404 MT of oil were traded by customers.

The metal and mineral trading floor witnessed trading over 833,436 MT of commodities worth more than 547 billion USD. On this trading floor 639,945 MT of steel, 18,285 MT of copper, 510 MT of molybdenum concentrates, 36 MT of precious metals concentrates, 40 kg of gold bullion, 120 MT of zinc, 165,000 MT of iron ore as well as 9,540 MT of aluminum were traded by customers.

The side market of IME experienced trading of 850 Kg of empty barrels, 50 MT of used locomotive engine oil, 902 MT of iron scrape, 881 MT of metal scrape, 150 MT of phosphate concentrate, 140 MT of methylene diphenyl diisocyanate of polycarbonate and 834 MT of various grades of polyester threads.

End Item

بازدید مدیرعامل ولووتراکس از خطوط تولید سایپادیزل

Tehran (ISNA) - The CEO of Swedish Volvo Trucks has announced that the company intends to increase its investment and operations in Iran.

On the sidelines of his trip to Iran, the CEO of Volvo Trucks Claes Nilsson told the ISNA news agency, “The Company manufactures its vehicles in Iran with the same technology it uses in Europe”.

"We have invested in truck body manufacturing in Iran and we intend to expand our investment in this sector," he added.

"Our latest investment in Iran dated back to 2016 with a value of $ 6 million to improve the quality of the FH truck and so far we have invested $ 55 million in auto manufacturing lines in Iran," Nilsson went on to say.

The CEO of the Iranian company Saipa Diesel had already announced that this company and the Swedish Volvo Trucks reached the preliminary agreement to found a joint venture in Iran.

End Item

Tehran (ISNA) – Total CEO Patrick Pouyanne announced that the French oil company will not give up on its deal to develop Iran’s gas industry so easily.

Even as US President Donald Trump threatens to impose more sanctions on Iran and to pull out of a multilateral pact that made it easier to do business there, the French oil major plans to seek legal advice before deciding what to do, Pouyanne said.

“We are waiting to see what the US Congress will decide, what would be a new framework of sanctions,” he said during a talk at the Chatham House think tank in London. “If we cannot legally pursue, we will have to stop, but we will not give up like that.”

Total signed a deal to develop phase 11 of Iran’s giant South Pars field in July, pledging $1bn of investments. Trump last month declared a hardened stance toward Iran as he refused to certify that Iran is in compliance with the multinational accord to curb its nuclear programme, though he stopped short of repudiating the pact, Gulf Times reported.

Majors like Total are already meant to respect some US sanctions on Iran which include a ban on the use of dollars in business transactions. Total has been able to circumvent this ban by using its own equity rather than project finance, Pouyanne said.

Pouyanne said Total weighed the risks of going back to Iran and believes it will benefit from being first after sanctions were eased in January last year.

“It was a win-win decision,” Pouyanne said. “When you are the first, you have a chance to innovate and have the best contract,” he said.

End Item

The news conference of the director of Xinhua News Agency Dong Mu was held in special desk of Foreign Media in Tehran Press Festival at Tehran's Mosalla building.

The subject of the conference was: "Xinhua News Agency and the future of the Silk Road".

Dong Mu started his lecture by saying that Xinhua was established in 1931. While being the most influential and biggest news agency,   it is also the only official news agency of the People's Republic of China. He went on to say that, at present, Xinhua has some 170 offices in foreign countries and functions as the only media for broadcasting the important news of the central government in eight live languages of the world.

Mr.Mu added that more than 2100 years ago, the representative of Hun dynasty visited central Asia and Iran twice and opened the old Silk Road which continued from the West to the East and ended up in Europe. Due to its pivotal role for trade, cultural exchange and friendly cooperation important missions were implemented by diplomats, businessmen, and scientists to meet the needs of the road in its entirety. He added: four years ago, the president of the people Republic of China raised a new initiative for the Silk Road and it's economic belt which includes Iran.

Regarding the Silk Road issue he said Xinhua news agency as the official news agency of the people Republic of China has hired numerous reporters in order to cover the news related to the Silk Road and is committed to reflect the news related to social progress as well as economic development and growth. At the end of his speech he pointed out that the efforts being undertaken these days will sure benefit future Iranian and Chinese and other countries for generations to come.

Meanwhile the news conference of the senior editor of Utusan newspaper Mahmut Mowardi was held in special desk of Foreign Media in Tehran Press Festival at Tehran's Mosalla building.

The subject of the conference was: "challenges facing the newspapers, (with emphasis on the state-owned Utusan newspaper) in the era of social media".

He started his lecture by expressing his pleasure at his first presence in Iran. He continued by pointing to the concerns of his friends who reminded him of being a Sunni Muslim and going to a Shia country of Iran, may not be easy and free from tension.

Of course he clarified that he did not blame them, neither was his feeling hurt as he knew that those comments stemmed from being misinformed.

He went on to say that, " despite all these, I look at this travel as an opportunity to see my religious brothers and sisters and hope to improve the relations between Iran and Malaysia"

He briefly introduced Malaysia by saying that his country is a nation of twenty million people and is known for its twin towers.

On Utusan newspaper he said that Utusan was established in 1939. It reflected the concerns of the lower layers of the society and in 1997 it went on the internet and all its issues, ever since then became available online. But due to the lack of enthusiasm of its audience, it was not very successful as most people still preferred to read the paper version of the newspaper. 

He also pointed out that due to advent of online newspapers, the advertising and readership of print newspapers had fallen dramatically and it is getting worse as the university research indicates that Whatsapp, Facebook and Instagram have the highest number of users.

At the end of his speech he expressed hope that by producing better quality of products, paying closer attention to the method of presenting the facts, staying away from biased opinion the traditional media, while trying to concentrate on the youth as audience, can cope with the online journalism.

End Item

Tehran (ISNA) - The 17th International Electricity Exhibition of Iran was opened on Saturday in the presence of the deputy minister of energy and directors of the Electricity Industry.

At this event, 770 Iranian and foreign companies will participate, of which 458 are Iranian and more than 310 are foreigners from 30 countries.

Foreign countries present at the 17th International Electricity Exhibition of Iran are: Germany, China, Turkey, Italy, Spain, Finland, Poland, Great Britain, Sweden, United Arab Emirates, Syria and other countries.

The exhibition will be held from 4-7 November 2017 in Tehran International Ground Fair.

End Item

Tehran (ISNA) - A number of documents were signed in Tehran on the margins of the visit to the Islamic Republic of Iran by Russian President Vladimir Putin. The documents are aimed at fostering Russian-Iranian cooperation in the gas sector.

The deputy chairman of the Gazprom management committee Vitaly Markelov and Iran’s deputy minister of petroleum Amir Hossein Zamaninia signed a memorandum of understanding for strategic cooperation, World Oil reported.

In accordance with the document, the parties will look into the prospects of joining efforts in developing Iranian gas fields with subsequent gas transportation and monetization, including through liquefaction and petrochemical production.

Gazprom and National Iranian Oil Company (NIOC) inked a Memorandum of Understanding to collaborate on the construction project for the Iran-Pakistan-India gas pipeline.

The Memorandum is based on the Memorandum of Understanding signed by the Russian energy ministry and the Iranian petroleum ministry as part of the state support for the pipeline construction project.

Thanks to the Memorandum, Gazprom and NIOC will, inter alia, start developing a feasibility study for the design, construction and operation of the Iran-Pakistan-India gas pipeline.

In addition, Vitaly Markelov and the chairman of the executive board of Industrial Development & Renovation Organization of Iran Mansour Moazami have also signed a Memorandum of Understanding.

The document reflects the intent of the parties to explore the possibilities of joint gas liquefaction projects slated to be implemented in third countries, as well as projects in the field of advanced gas processing and petrochemistry in the territory of Iran.

Gazprom and NIOC also inked a Memorandum of Understanding, pursuant to which the two companies will develop a concept for a unified system of gas production, transmission and petrochemistry based in Iran.

“Today, we took a major step forward in Russian-Iranian cooperation in the gas sector. We signed a number of important documents, including the Memorandum for strategic cooperation between Gazprom and Iran’s Petroleum Ministry. As a result, we established the organizational framework for further bilateral cooperation in a range of promising fields,” said Vitaly Markelov.

End Item

TEHRAN (FNA)- Iranian Deputy Foreign Minister Majid Takht Ravanchi and Secretary General of the French Ministry of Europe and Foreign Affairs Maurice Gourdault-Montagne in a meeting in Paris on Wednesday discussed bilateral relations and development in the region.

During the meeting in the French capital today, Takht Ravanchi and Gourdault-Montagne explored avenues for bolstering and reinvigorating mutual cooperation, specially in the political and economic fields.

The two sides stressed the importance of Iran as a key player in the region and also discussed the ongoing negotiations between the two countries to resolve regional problems, the need for a more serious role played by France and European countries on the implementation of the Joint Comprehensive Plan of Action and the US violation of the JCPOA.

The two sides assessed the forthcoming visit of the French Foreign Minister to Tehran, an important opportunity to exchange views on bilateral and regional issues.

In relevant remarks in late May, French President Emmanuel Macron in a congratulatory message to his Iranian counterpart Hassan Rouhani underlined the need for broadening of mutual cooperation between Paris and Tehran, specially in economic and trade fields.

The French president vowed to do his utmost for deepening of economic, scientific and cultural relations with Iran during his tenure as French president.

President Macron also called for resolving the Middle East crises, and expressed the hope that the new government in Iran will help to help the two countries further expand their mutual cooperation.

In relevant remarks in March, French Finance Minister Michel Sapin called for resuming banking relations with Iranian banks.

"It’s our aim and our will to normalized banking ties with Iran even if it can’t be done in one day," Sapin told reporters after his meeting with Iranian Economy Minister Ali Tayyebnia in Tehran.

The French finance minister reiterated that Tehran and Paris cannot broaden their economic ties unless they normalize their cooperation in the banking field.

"France's big banks are international banks. They work around the world, including in the US. It is therefore normal that they worry about respecting American rules with regards to their American activities… I can't blame them, but they need to rebuild trust…We can work with them to understand the rules and find good reasons to work towards developing our relations," Sapin said.





TEHRAN (FNA)- A second Indian ship with a major wheat cargo for Afghanistan arrived in Chabahar port in Southeastern Iran.

The ship carrying a cargo 110,000 tons of wheat in 655 containers arrived in Chabahar Port from India’s Western port of Kandla on Tuesday morning.

The same port hosted the first ship with 15,000 tons of wheat last Wednesday in a move that officially launched a new multi-modal transit corridor from India to Afghanistan through Iran.

New Delhi plans to send seven shipments of wheat to Afghanistan all on a grant basis through Chabahar by the end of January, the media reported.

The cargoes are expected to be loaded on thousands of trucks and then taken to western Afghanistan.

The shipments are meant to demonstrate the route’s viability and the plan is to broaden the cargo flow before the port is fully operational by the end of next year.

Indian officials earlier praised the opening of the new corridor between the three countries with Prime Minister Narendra Modi writing on Twitter that it "marks a new chapter in regional cooperation and connectivity."

The new route would create a unique opportunity for India to send its goods to landlocked Afghanistan through a safe route. It would enable Afghan merchants to export their commodities, mainly fruits and vegetables as well as nuts and minerals, to global markets through Chabahar.

India signed a deal with Iran in 2003 to develop the same port through an investment that could amount to $500 million.

Located on the confluence of the Indian Ocean and the Sea of Oman in southeastern Iran, Chabahar is India's first foreign port project. Once completed, the project would enable India to send its goods Afghanistan, Central Asia and beyond.





TEHRAN (FNA)- Head of Iran's Chamber of Commerce Gholamhossein Shafeyee announced that a number of Iranian banks are interested in opening branches in Belgium.

Shafeyee made the announcement in a meeting with a Belgian delegation headed by President of the Federation of Belgian Chambers of Commerce Rene Branders in Tehran on Tuesday.

"The most important requirements for both countries' businesses are banking and insurance ties that have registered slight improvements after Iran’s nuclear deal, but they are still not enough,” he added.

Shafeyee noted that Belgium’s economic, financial and trading strength is significant among European Union member-states and ties with that country is of high importance for the Iranian companies and traders.

“The desire for expanding economic relations is obvious in both sides. Therefore, we have made plans for the Belgian delegation during their four-day visit in Tehran and Isfahan, and we hope to achieve beneficial results through negotiations,” he said.

This is while the Belgian ambassador to Tehran Francois Delhaye noted that there are plenty of opportunities to expand bilateral relations, as the economy of the two countries can be complementary.

“Because of the volatile atmosphere and the US actions, banking and insurance ties have not improved at an acceptable pace, which is hoped to be resolved as soon as possible,” Delhaye added.

The Belgian ambassador explained that in this situation of uncertainty, the visit of Belgian delegation has a special message and that Belgian companies are eager to extend their ties with Iran and the Belgian government has been also actively pursuing Iranian issues in EU.

Iran-Belgium trade stood at $723.83 million in 2016, according to figures released by the Iranian government.





TEHRAN (FNA)- Senior Iranian and Swiss officials in a meeting in Switzerland on Monday discussed bilateral ties and mutual cooperation, specially in business and economic fields.

During the meeting in Bern, Iranian Deputy Economy Minister Mohammad Khazayee and Economy Minister of Switzerland's Vaud State Philippe Leuba explored avenues for bolstering and reinvigorating economic and trade relations.

Khazayee, also Head of Organization for Economic Investment and Technical Assistance of Iran, announced an opportunity in resuming banking transactions between Iran and Switzerland.

Iran's deputy economy minister, meantime, expressed optimism that some of the collaboration will be operationalized within next month, and said, "There’s a seemly atmosphere for developing banking relations between Iran and Switzerland. In addition, the pathways to Iran-Switzerland banking cooperation are opening."

During the meeting, the two sides discussed expansion of cooperation, particularly in areas of biotechnology, IT, health-related technologies, agriculture technologies and transportation.

Representatives of the two countries also negotiated on banking solutions through which Iranian projects could be financed.

They also touched upon solutions for financing investment projects and their insurance coverage by European companies.

Leuba, for his part, said that during his stay in Iran, he had held productive meetings with Iranian companies in order to expand economic cooperation, adding, "We believe that a good opportunity for boosting bilateral economic ties is forthcoming."

In relevant remarks in early April, Swiss Ambassador to Tehran Giulio Haas voiced his country's willingness to broaden economic and trade relations with Iran.

"Switzerland is ready to expand all-out cooperation, specially in the field of economic and trade fields, with Iran," Haas said.

The Swiss envoy said that the volume of investment by Swiss businessmen in Iran has doubled in recent years.

"During the past four years, the number of Swiss tourists, who have visited Iran, has increased from 5,000 to 15,000," he said, adding, "The two countries enjoy cordial relations in the fields of tourism industry."





TEHRAN (FNA)- The Japanese government has opened a line of credit (LC) valued $10 billion for investment in Iran, a senior energy official announced.

"Japan's ambassador to Tehran said his government had allocated a 10-billion-dollar credit line for companies interested in making investment or conducting joint venture in Iran," Iranian Deputy Energy Minister Houshang Falahatian said on Monday.

Falahatian pointed to an ongoing seminar on Tehran-Tokyo cooperation on the sidelines of the 17th International Electricity Exhibition of Iran, and said, "At the joint event, Japanese firms are seeking to introduce their capacities to Iranian counterparts as well as to explore venues for investment in Iran's power industry."

In relevant remarks in late March, Japanese Embassy in Tehran in a communique declared the activation of Tehran-Tokyo agreement of reciprocal support for investment in Iran and Japan.

"Upon receiving a notice from Iran on March 27, Japan finalized and put into practice the Iran-Japan agreement to reciprocally encourage and support investment in Iran and Japan,” read the communique released by Japan’s embassy.

It said that the agreement covers a host of full and comprehensive issues in terms of encouraging and supporting investment in Iran and Japan and with its implementation, it is expected that there would be more investment in these two countries and the economic relations between these two countries will be enhanced.

The agreement resulting in the Act to support Iran-Japan investment was passed by Iran’s parliament in late November 2016 and finally approved and put into law by the Guardian Council in late December 2016.

In relevant remarks in early February, the Japanese government expressed willingness to allocate $6.9 billion to fund five projects in Iran to further expand bilateral relations between the two countries.

"Tokyo is going to continue its assistance of up to 40 billion Japanese Yen annually for the next four years starting in 2017," the Japanese embassy in Tehran said in a press release.

The embassy noted that the allocation of the aid was confirmed in the Brussels Conference on Afghanistan in October 2016 and will be extended through international organizations and UN bodies.

"The projects include a contribution of one million dollars through the United Nations Development Program (UNDP) to restore Lake Oroumiyeh, approximately two million dollars in humanitarian aid assistance for the Afghan refugees through the United Nations High Commissioner for Refugees (UNHCR) program, around $1.9 million funneled through the United Nations Office on Drugs and Crime (UNODC) to be used on border controls, fighting drugs, customs cooperation and money laundering, $500,000 to promote integration of industries in Chabahar port city in the Persian Gulf through a program to be implemented by the United Nations Industrial Development Organization (UNIDO) and finally $1.5 million in donated funds funneled through the International Committee of the Red Cross for emergency activities in Iran.





TEHRAN (FNA)- Iranian Ambassador to Iraq Iraj Masjedi said that Tehran will have ultimate cooperation with Baghdad in its reconstruction process, as it helped the country in the fight against the ISIL terrorists.

"We will cooperate with Iraq in reconstruction of the country," Masjedi said on Saturday.

The Iranian ambassador also described Iran-Iraq cooperation in various fields as excellent, and expressed the hope that the cooperation will further expand.

In relevant remarks last week, Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari and Iraqi Foreign Minister Ibrahim al-Jafari in a meeting in Baghdad underlined the need for the further expansion of mutual cooperation, specially in economic and trade fields.

During the meeting in the Iraqi capital on Thursday, Shariatmadari and al-Jafari explored avenues for bolstering and reinvigorating bilateral relations between the two countries' businessmen.

During the meeting, Shariatmadari declared preparedness of Iran's both governmental and private sectors for investing in Iraq.

The Iranian minister pointed to obstacles in the way of improvement of banking relations between Tehran and Baghdad, and expressed the hope that the problems will be resolved with Iraq’s central bank officials.

The Iraqi foreign minister, for his part, thanked Iran's support for Iraq and highlighted the importance of elevation of trade ties between the two capitals.

Al-Jafari expressed satisfaction over the expansion of relations between Tehran and Baghdad in all fields, and said, "Baghdad is taking pride for enjoying such relations with Tehran."





TEHRAN (FNA)- Head of Russia’s Rosneft energy giant Igor Sechin announced that his company has worked out on a roadmap with Iran over cooperating in the production of crude that envisages investing billions of dollars to increase the country's oil production by at least 1.1 million barrels per day (mb/d).

"The roadmap had been enshrined in a preliminary agreement that my company had signed with the National Iranian Oil Company (NIOC) earlier this week," Sechin said.

He reiterated that the agreement envisaged that Russia and Iran would cooperate over a number of "strategic" projects worth up to $30 billion.

Sechin said that the agreement which had been signed during the visit to Tehran by Russia’s President Vladimir Putin paved the way for legally-binding documents to be signed within a year.

"We are talking about several oil and gas fields, which we will develop with our partners,” he said, adding that Rosneft has also invited Iran to develop offshore and other projects in Russia.

The Russian official’s remarks came against the background of a rise in the level of cooperation between Iran and Russia over energy issues.

A key agreement that the two countries signed in 2014 on the same front involves purchasing up to 500,000 barrels per day (bpd) of Iranian oil by Russia.

Based on it, Moscow would buy up to 500,000 bpd of Iranian oil in exchange for Russian equipment and goods. It called for swapping around 300,000 bpd via the Caspian Sea and the rest from the Persian Gulf.

NIOC Chief Ali Kardor was quoted by the media in Tehran as saying earlier that the agreement would come into effect "in the near future".

"Iran was about to receive 50 percent of payment in euros and the rest in goods and services," Kardor added.

Iran and Russia signed several agreements to promote cooperation over energy issues during President Putin’s visit. The agreements included one that envisages exports of natural gas from Iran to Pakistan and thereon India by Russian companies – most importantly Gazprom. 





By editor on in Oil & Gas

The National Iranian South Oil Company (NISOC) is planning a $3 billion investment for developing 10 oil reserves in the country within the next two years.

An NISOC official, Abdollah Mousavi, said the company will dip into the National Development Fund of Iran for funding the projects.

Addressing the closing ceremony of an exhibition on oil industry in the southwestern province of Khuzestan, Mousavi said the projects will generate many jobs in the province and other oil-rich areas of the country.

He further added that the newly-developed model of oil contracts as well as the ones developed by NISOC will be used for linking foreign developers with Iranian ones in developing the projects.

(Source: Shana)

Major Power Projects in Khuzestan Province

Tags: featured, Khuzestan, National Development Fund, National Iranian South Oil Company (NISOC)

By editor on in Industry

Iran plans to start the construction phase of five major power plant projects in the country’s southwestern province of Khuzesan this Iranian year (ends on March 20, 2018), Energy Minister Reza Ardakanian said.

Speaking to IRIB, the energy minister said that these projects would produce 3,600 megawatts (MW) of energy.

At present, the province enjoys over 13,200 MW installed production capacity which will be increased this year by inaugurating two 160 MW projects including Behbahan and West Karun power plants, Ardakanian added.

He said that in the next Iranian calendar year (to start on March 21, 2018), another 4,500 MW project will be launched in the region.

The energy minister said that the installed production capacity of the oil rich region will be increased by 60 percent after launch of the above mentioned projects.

Iran exports around 12 billion kilowatt-hours (kWh) of electricity to its neighbors each year, while the imports stand at an annual level of 4 billion kWh, Iran’s energy minister said in November 2015.

(Source: Tasnim, under Creative Commons licence)

Iran’s Exports to Turkey Grow by 75%

Iran Plans $3bn Investment to Develop 10 Oil Reserves

Tags: electricity, featured, Khuzestan

By editor on in Industry

The value of trade exchange between Iran and Turkey in the first nine months of this year has risen by 14 percent compared to the corresponding period last year, figures released by the Turkish government said.

According to the Turkish Statistical Institute, a large increase in the value of imports from Iran in the first three quarters of 2017 has raised the total trade exchange between the two neighbors in comparison to the previous year.

The figures show that Turkey’s imports from Iran in the 9-month period has stood at above $5.8 billion, showing a 75 percent increase compared to January-September 2016.

The total trade exchange between Tehran and Ankara during the 9-month period surpassed $8.1, according to the figures.

Oil and gas form Turkey’s main imports from Iran.

Iran has been ranked seventeenth in the list of Turkey’s most popular export destinations in the 9-month span.

Iran and Turkey have set a $30-billion annual trade target, signing several agreements to enhance cooperation in various areas.

In early October, Turkish President Recep Tayyib Erdogan visited Iran to attend the fourth round of strategic meetings between Iran and Turkey.

In a press release after the official visit, the Iranian and Turkish presidents said they have reaffirmed the goal of increasing the annual trade to $30 billion per annum.

(Source: Tasnim, under Creative Commons licence)

New Plant Raises Ceiling on Iran’s Power Output

Major Power Projects in Khuzestan Province

Tags: featured, Turkey

By editor on in Transport

The Iranian president’s chief of staff voiced the administration’s determination to construct a railroad linking Iran to the Iraqi city of Basra, saying the project would give a major boost to the transportation industry in the region.

Speaking to reporters in the southwestern city of Khorramshahr on Friday, Mahmoud Vaezi said various related bodies, including the Arvand Free Trade Zone and the presidential office, have decided to focus efforts on the establishment of the railroad to Iraq.

In addition to better services for travelers, the railroad would function as a regional corridor and bring a major change in the transportation industry, he added.

In February 2016, Iranian President Hassan Rouhani had unveiled plans for railroad link with Iraq, expressing the hope that rail access to Basra would enable Iranian pilgrims residing in cities as far as Mashhad to travel to Iraq’s Karbala by train.

(Source: Tasnim, under Creative Commons licence)

Total to Conform to any US Sanctions on Iran: CEO

New Plant Raises Ceiling on Iran’s Power Output

Tags: Arvand Free Trade Zone, Basra, featured, Iraq, rail

By editor on in Oil & Gas

France’s Total has opened an office in Washington to coordinate its operations in Iran where the French oil and gas major plans to develop Phase 11 of the giant South Pars gas field.

On Thursday, Total CEO Patrick Pouyanne stated that his company would comply with any sanctions on Iran. Iranian officials, he said, “know that if we cannot go ahead it is because of a decision by the US.”

Total’s Washington office also announced that it would help coordinate relations with the US Treasury and State Department to make sure the French firm remained in compliance with any changes to US sanctions.

For now, Total is awaiting a US Congress decision on whether the Iran nuclear agreement is in line with the American interests, Pouyanne said last month.

“If the framework changes, if we can legally do and execute the contract we will do that. There are huge opportunities in Iran. But let’s see if we can do that initial project first,” he said last week.

Total’s Chief Financial Officer Patrick de La Chevardiere has said the group expected to announce the main contract for South Pars at the beginning of 2018 when there would be clarity from the US.

Total was the first Western energy firm to sign a major deal, worth $4.8 billion, with Iran after sanctions were lifted on Iran in 2016 under a nuclear agreement.

However, US President Donald Trump’s refusal last month to endorse the nuclear agreement with Iran and his threat to levy new sanctions on the country has thrown the future of the deal into doubt.

(Source: PEDEC)

Baghdad may Export Kirkuk Oil to Iran

Iran Resolved to Establish Railroad Link with Iraq

Tags: Donald Trump, featured, France, sanctions, Total, United States

By editor on in Oil & Gas

By John Lee.

Iraq‘s State Oil Marketing Organization (SOMO) has reportedly confirmed that talks are ongoing between Baghdad and Tehran to export crude oil from Kirkuk to the Kermanshah refinery (pictured) in Iran.

SOMO Director Alaa al-Mussawi is quoted as saying that trucks would initially supply 15,000 barrels of crude oil per day (bpd) to the refinery, increasing to 25,000 bpd.

Kirkuk oil has until recently been exported to international markets via the Ceyhan port in Turkey.

(Source: Kurdistan 24)

Europe’s Efforts to Facilitate Banking Ties with Iran “Not Sufficient”

Total to Conform to any US Sanctions on Iran: CEO

Tags: featured, Iraq, Kermanshah, Kermanshah refinery, State Oil Marketing Organisation (SOMO)

By editor on in Finance

Iranian Deputy Foreign Minister for American and European Affairs Majid Takht Ravanchi said European countries have not made enough efforts to persuade their banks work with Iran.

Addressing a conference in the French capital of Paris on Tuesday, Takht Ravanchi stressed the need for the European parties to the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), to clarify their position about any possible action by the US to withdraw from the agreement.

The Europeans should make it clear what their reaction would be if Washington leaves the JCPOA and imposes fresh sanctions against Tehran, he said.

The Iranian diplomat further criticized the European countries for not having made sufficient efforts to encourage their banks to cooperate with Iran.

Takht Ravanchi also said Iran will not be the first party to withdraw from the deal, adding that the Islamic Republic is “prepared for any scenario”.

Concerns have been growing in recent weeks that the US administration may unilaterally scrap the nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France, and Germany).

In a major confrontational stance against Iran on October 13, US President Donald Trump refused to certify the multilateral deal on Tehran’s peaceful nuclear program.

Speaking from the White House, Trump said he will choose not to certify that Tehran is complying with the agreement.

The 159-page nuclear agreement was reached in July 2015 and came into force in January 2016.

Since the historic deal was signed in Vienna, the International Atomic Energy Agency (IAEA) has repeatedly confirmed the Islamic Republic’s compliance with its commitments under the JCPOA, but some other parties, especially the US, have failed to live up to their undertakings.

(Source: Tasnim, under Creative Commons licence)

Iran’s FM to Travel to Central Asia on Wednesday

Baghdad may Export Kirkuk Oil to Iran

Tags: bank transfers, banking, European Union (EU), featured, Joint Comprehensive Plan of Action (JCPOA), sanctions, United States

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