Friday , February 23 2018
Breaking News


Iran export billet prices climb amid higher offers deals


TEHRAN: Iranian export billet prices went up by $5-15 per tonne on an fob basis in the week ended Wednesday February 21 with higher offers being accepted by customers. Metal Bulletin’s weekly price assessment for Iranian billet exports was $495-510 per tonne fob on February 21, against $490-495 per tonne fob a week earlier. Late last week, offers of Iranian ... Read More »

Iran eyeing Iraqi flour market via Russia wheat deal


TEHRAN: Iran is negotiating a wheat import deal with Russia that would allow it to increase flour exports to neighbouring Iraq, the secretary general of the Iran Federation of Food Industry Associations told Reuters on Saturday. The deal would involve importing around 100,000 tonnes of Russian wheat per month for private millers who would then produce flour for export. Kaveh ... Read More »

Iran’s oil revenue plummets as US oil exports grow


TEHRAN: Iran missed its oil and gas revenue targets by nearly 30 percent last year, while failing to grab enough money in taxes to make up the shortfall, according to its official news service. President Hassan Rouhani’s administration “only managed to earn $19.44 billion from taxes and $13.06 billion by exporting oil and its byproducts, showing deficits of $7.34 billion ... Read More »

S.Korea’s Jan crude imports from Iran fall to 15-month low


TEHRAN: South Korea’s crude oil imports from Iran fell 47 percent in January from a year ago to 950,013 tonnes, or 224,632 barrels per day (bpd), the lowest since October 2016, customs data showed on Thursday. The fall in South Korea’s Iranian oil intake partly reflects the sinking last month of an Iranian tanker carrying 136,000 tonnes of condensate after ... Read More »

Fate of car imports in Iran hanging in Midair


TEHRAN: Iran’s Court of Administrative Justice issued a verdict last week temporarily demanding suspension of the newest government directive which pushed up car tariffs up to 65%. On Monday the minister of industries responded by saying he had not received the court order. Mohammad Shariatmadari says, “As per law, an order issued by CAJ can suspend or abolish a government ... Read More »

Iranian iron ore exporters to benefit from goa mining halt


TEHRAN: In its Feb. 7 verdict, the Supreme Court canceled the second renewal of all the 88 iron ore mining leases renewed by the state government in Goa. No mining activities will continue in the state after March 15, the top court decided, ordering the government to grant the leases afresh through auctions. The verdict came on a plea filed ... Read More »

Iran doubles exports of dates over current year


TEHRAN: The volume of exports of dates form Iran over the current fiscal year (starting March 20) has significantly increased. Mohammdali Tahmasbi, a deputy agriculture minister, has said that country exported 171,000 tons of dates over the current fiscal year, Fars news agency reported. According to the official the figure has surged by 22 percent.Mohammdali Tahmasbi further added that the ... Read More »

Iran slaughters 40 percent of its poultry, imports eggs from Turkey


TEHRAN: Iranian officials culled 25 million heads of poultry following a recent outbreak of bird flu, the Iranian Labor News Agency (ILNA) reported Monday. Speaking to ILNA, head of the Tehran Chicken and Egg Association Nasir Nebipur said a collosal 40 percent of the nation’s poultry had been slaughtered due to bird flu fears. Nebipur went on to point out ... Read More »

Iran’s Jan LPG exports jump to 520,000 mt most since sanctions ended


TEHRAN: LPG shipments from Iran made a strong start to the year, rebounding to 520,000 mt in January, the highest since Western sanctions for its nuclear program were lifted in January 2016, updated fixtures from shipping sources showed this week. The latest volume is 146,000 mt more than initial figures published in mid-January, according to shipping sources. It is also ... Read More »

Iran bets on non oil segments of the economy


TEHRAN: Iran’s Central Bank said all segments of the economy were improving and growth in gross domestic product was around 4 percent on the back of increasing oil production and exports. “Iran’s economy generated 650,000 jobs in the past fiscal year and continued to create more jobs during current fiscal year,” the official said. “However, the growth projection for the ... Read More »

Iran ups exports to China by 25%


TEHRAN: The value of Iran’s exports to China as its top trading partner witnessed a 25.2 percent rise compared to 2016, a senior trade official announced. “Iran’s major commodities exported to China last year included crude oil, polyethylene, methanol, sulfur, styrene, iron ore, copper ore, purified copper, chromite, lead ore, zinc ore, marble and travertine,” Hossein Roustayee, an official with the ... Read More »

Iranian private steel mills to form export consortium


TEHRAN: Iran is founding a consortium of private re-rollers to boost its long product exports, said Ahmad Khorvash, a member of the board of directors of Iranian Steel Producers’ Association and managing director of the country’s largest re-roller Kavir Steel Complex, according to a report by Minews, a domestic website close to the industry, on Tuesday. Privately owned re-rollers have ... Read More »

Iran oil production surpasses 3.8m bpd in January


TEHRAN:  Iran’s daily crude oil production increased by 30,000 barrels last month (January) to reach 3,830,000 bpd, indicating the highest increase in oil production among OPEC member states after Saudi Arabia. Iran has increased its production in the oil fields west of the Karun River, the official Islamic Republic News Agency (IRNA) qoeted US Bloomberg as saying.Saudi Arabia’s oil production increased by ... Read More »

Sugar import ban to continue in Iran


TEHRAN: Iran will continue imposed ban on sugar import during the next fiscal year (to start March 2018), Jamal Modarresi, an official with the country’s agriculture ministry, said. Given the high volume of the stored product, as well as high sugar production in the country, Iran does not need to import sugar in the coming year, Modarresi told ISNA news ... Read More »

Iran’s economic freedom index improves


TEHRAN: Iran gained a higher score in the American think tank Heritage Foundation’s 2018 Index of Economic Freedom.  The country’s latest economic freedom score stood at 50.9, making the economy the 156th freest out of 180 countries. Its overall score has increased by 0.4 point, with modest improvements in monetary freedom, labor freedom and government integrity offsetting lower scores for ... Read More »

Iran increases oil output export


TEHRAN: Iran has increased its oil output significantly during the current fiscal year, started March 20, 2017, the country’s Oil Minister Bijan Namdar Zanganeh said. Iran’s crude oil and gas condensate output has increased by 165,000 barrels per day during the first ten months of the current fiscal year (March 20-Jan. 21), Zanganeh told reporters Feb. 4. Gas condensate is ... Read More »

Iran exporting 3m barrels of oil per month to Russia under oil for goods program


TEHRAN: Iran’s oil exports to Russia under the oil-for-goods program stand at 3 mln barrels a month, IRNAnews agency said on Sunday citing Iranian Minister of Petroleum Bijan Zangeneh. According to the Iranian minister, settlements under this program are made in euros. In May 2017, Iran and Russia reached an agreement to begin oil supplies under the oil-for-goods program established back ... Read More »

Iran milk powder exports up 140%


TEHRAN: Close to 22,000 tons of milk powder worth $77 million were exported from Iran during the first eight months of the current Iranian year (March 21-Nov. 21, 2017), registering a 144% and 140% growth in weight and value respectively compared with the corresponding period of last year. Milk powder exports accounted for 14% of Iran’s overall dairy exports during ... Read More »

Iranian northern customs sees huge surge in revenue


TEHRAN: The value of non-oil exports of Iran through the provincial customs checkpoints of Mazandaran has surpassed $329 million over the first 10 months of the current fiscal year. The head of the customs organization of the northern province of Mazandaran, Abolqasem Yousefinejad has said that goods worth $329.317 million were exported through the province’s checkpoints in the mentioned period, ... Read More »

Iran’s oil exports to Japan increases in Dec


TEHRAN: Iran’s oil exports to Japan (including gas condensates) in December 2017 decreased by 11.2 percent year-on-year and reached ‎‎6.781‎‎‎ million barrels. Compared to the preceding month, the figure indicates a rise by 17 percent, Japan’s ministry of economy, trade and industry said. The figure includes 472,710 barrels of condensates exported from Iran’s South Pars gas field, as well as ... Read More »