Category: 4. Business

TEHRAN – The Petroleum Engineering and Development Company (PEDEC) has signed two major subsurface drilling contracts aimed at accelerating development of the Paydar Gharb oilfield, a shared reservoir with Iraq, the project manager for the Aban…

TEHRAN – Iran’s annual power generation capacity growth rate stands at 2.2 percent, significantly lower than the global average of 4.6 percent, Energy Minister Abbas Aliabadi said on Tuesday.

Speaking at the fifth National Development Fund…

With the coordination made in this regard, about 87 percent of goods traded between Iran and the five member countries of the Eurasian Economic Union (Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan) will be traded with zero tariffs,…

TEHRAN – Iran’s Free Zones High Council announced that the trade balance of Maku Free Trade Zone, in the northwest of the country, was $5.35 million positive in the first Iranian calendar month Farvardin (March 21-April 21).

The council…

TEHRAN- Iran exported non-oil commodities valued at $124 million to Pakistan in the first Iranian calendar month of Farvardin (March 21-April 21), according to data from the Islamic Republic of Iran Customs Administration (IRICA).

The IRICA data…

TEHRAN – Iran plans to commission two new oil refineries and three fuel quality upgrade projects by the end of the current Iranian year (March 2026), the head of the National Iranian Oil Refining and Distribution Company (NIORDC) announced on…

TEHRAN – Iran’s central bank announced that more than $6.5 billion in foreign currency has been allocated to import goods and services since the beginning of the current Iranian year (starting March 20), as total commercial forex market…