70% of Iran’s energy reserves untapped
Managing director of the National Iranian Oil Company (NIOC) said more than 70 percent of Iran’s enormous oil and gas reserves are yet to be developed and Iran Petroleum Contract (IPC) conference offers an excellent opportunity for developing the country’s energy reserves. Addressing a conference in Tehran to introduce Iran’s…
Iran oil sector open to US companies, says oil minister
The ground is prepared for the engagement of US companies in Iran’s oil industry, says Iran’s Oil Minister Bijan Namdar Zangeneh. There is no opposition or problem about the presence of the US companies in Iran’s oil sector, Zangeneh said on the sidelines of the conference on unveiling the new…
Iranians wary as Europe rushes for trade
A delegation of about 370 Italian traders is expected to arrive in Tehran on Saturday to discuss business opportunities in a country which is about to emerge from Western sanctions. Representatives of medical, green energy, automobiles, construction and manufacturing industries will be visiting Iran for three days. Delegates include executives…
Iran, Russia sign 1.2 billion euro railway deal
Iran and Russia have signed an agreement worth 1.2 billion euros to electrify a train line, linking north-central Iran to the northeastern border with Turkmenistan, an official says. The agreement signed between Russian Railways and the Islamic Republic of Iran Railways (RAI) envisages constructing power stations and overhead power lines…
Luxembourg interested in economic investment in Iran: Senior Official
Visiting Luxembourg Foreign Minister Jean Asselborn met with Majlis Speaker Ali Larijani here on Wednesday afternoon. In the meeting, Asselborn expressed pleasure for his visit to Iran and said that we hope sanctions could be lifted soon and relations of countries with Iran expanded and Luxembourg is very interested in…
New contract formats for energy deals next week
Minster of oil announced here that new contract formats, generally referred to as Iran Petroleum Contracts (IPC), for energy deals will be introduced on November 28-29. With the help of the new contracts some problems of the oil industry will be solved, Bijan Namdar Zangeneh said. It is predicted that…
Holland ready for int’l cooperation in energy field
Holland’s energy minister here on Monday announced his country’s readiness for international cooperation in the energy field, arguing that harmony among Gas Exporting Countries Forum member countries can lead to innovations in the field. Hang Cum who was speaking at the Monday evening session of the 3rd GECF Summit Meeting…
President Rouhani: Iran to boost gas output to 1bln c/m per day
President Hassan Rouhani announced here in Monday that Iran’s gas output will hit one billion cubic meters within next two years from the current 600 million cubic meters. ‘We are planning to increase the country’s annual gas output to 1 billion cubic meters from the current 600 million cubic meters,’…
Russia aims to clinch $21bn in export deals
Moscow is hoping to cement its strengthening relationship with Tehran by clinching industrial export deals worth more than $21bn, as it prepares to send one of its biggest trade delegations to Iran next month, Financial Times reported. Ilya Tarasenko, new president of Sukhoi Civil Aircraft, said the company was in…
Iran poised to become regional power exporter
With the world’s largest proven gas reserves, Iran has the capacity to become a major natural gas exporter and a regional powerhouse. However, Iran’s gas reserves have remained untapped as the Western sanctions have impeded the development of the nation’s gas infrastructure. With the signing of the Iran nuclear deal…
