Iran finalizing plans to build oil refineries in Europe
Negotiations to build oil refineries in Europe with Iranian investment to process the country’s crude are on verge of finalization, a news agency says. The two sides have decided to process the Iranian oil and use it in the countries in which the refineries are to be built, the Fars…
Report: Iran poised to hit new oil reserves
Iran is poised to strike a new oil gusher in an offshore field which the country shares with the UAE in the Persian Gulf, an official says. New discovery drillings in the Salman field have led Iranian prospectors to a new hydrocarbon-bearing formation which most probably contains oil reserves, an…
Iran renews oil deals with China
Iran is taking steps to ramp up oil exports ahead of an end to US-led sanctions, extending crude contracts with its top two Chinese buyers into 2016 and starting talks with other potential buyers there, Reuters reported on Thursday. Sinopec Corp, Asia’s largest refiner, and Chinese state trader Zhuhai Zhenrong…
Iran calls on Sweden to restore ranking of Iranian banks to prior level
Governor of Central Bank of Iran (CBI) Valiollah Seif on Sunday called on Sweden to restore ranking of Iranian banks to prior levels before the sanctions. Seif made the remarks in a meeting with a visiting Swedish delegation. He said that restoration of ranking of Iranian banks to the prior…
Solar energy can meet whole electricity demand in Iran: official
Solar resources have the capacity to cover for Iran’s total electricity demand, according to Akbar Adibfar, the managing director of Renewable Energies Company, a subsidiary of Iran’s MAPNA Group. Adibfar said: “As of now, there have been a few investments to exploit renewable energies, especially the solar energy, because the…
Turkish trade delegation to visit Iran
A Turkish trade delegation representing Ankara Chamber of Industry – Ankara Sanayi Odasi (ASO) – is to pay a two-day visit to Tehran beginning from December 6, the ISNA news agency reported. Nurettin Ozdebir, the chairman of ASO, will lead the delegation which is scheduled to visit Tehran Chamber of…
Finland to seek business opportunities in post-sanctions Iran
Finnish Minister for Foreign Trade and Development Lenita Toivakka is scheduled to lead a 70-member economic delegation to Tehran on December 7–10 to seek new business opportunities in Iran once sanctions are removed against the Islamic Republic. The members of the delegation represent companies in the fields of bioeconomy, environmentally…
Moniz: Iran’s nuclear sanctions to reduce in January
US Secretary of Energy Ernest Moniz underlined that there are no concerns about Iran’s activities in relation to nuclear weapons or activities in the fuel cycle within the framework of nuclear agreement with the world powers. “We are committed to remove the nuclear sanctions and I should reiterated that nuclear…
Eni reviewing Iran new oil, gas contracts: CEO
Italy’s major energy company Eni announced it is considering taking part in Iran’s oil and gas projects after the Ministry of Petroleum unveiled its new contract models last week in Tehran, Agi news agency reported. ‘We must study them and discuss them with the Iranian counterpart. An in-depth study is…
OPEC rolls over policy despite falling oil prices
Oil prices fell on Friday after OPEC announced its members have decided to stick with the policy of maintaining crude production in order to preserve their market share. Following OPEC’s Friday meeting in Vienna, Iranian Minister of Petroleum Bijan Zangeneh said, ‘Nothing serious was agreed upon.’ Internationally traded Brent was…
