No limitation for foreign banks in Iran free zones
Director of Banking and Insurance Affairs of Supreme Council for Iranian Free Zones said Wednesday all legal obstacles in way of opening foreign banks’ branches have been lifted, advising such banks to focus on offering services including finance deals. Nasser Khormali focusing on provision of the required legal prerequisites for…
Iran expects oil prices to rise to $60pb only after 2020
A senior Iranian oil market expert says the price of oil will gradually rise in 2016 but will not cross $60 per barrel before 2020. Iran Oil Ministry Director for OPEC affairs Mehdi Assali said that the oil price slump will bring investors to the Middle East given low cost…
2015 energy recap
A mixed bag for the global and domestic energy industry, 2015 was marred by a Saudi Arabia determined to take oil price to its lowest level and marked by a turning point in Iran’s political and economic relations with the world following the nuclear deal halfway through the year. Oil…
Iran nominated for Energy Globe Award 2015
Tehran’s sewerage project has been nominated for the Energy Globe Award 2015, which is one of the most prestigious environmental awards, the Energy Globe website reported. Eligible for participation are projects with a focus on saving resources, improving air, soil, or water quality, increasing energy efficiency, using renewables, as well…
Iran quarterly foreign trade at $30bn: CBI
Latest figures by the Central Bank of Iran (CBI) reveal that foreign trade incomes stood at just over USD 30 billion in the first quarter of the Iranian calendar year (started March 20). The CBI data released on Monday show the volume of foreign trade shrank by some $10 billion…
Pars Special Economic Energy Zone (PSEEZ) exports fetch Iran $21bn in 2014
Iran earned more than 21 billion dollars from exports through Pars Special Economic Energy Zone (PSEEZ) in 2014, head of PSEEZ said. Mehdi Yousefi said since Rouhani took office in 2013, the country has raised its gas output by nearly 100mcm every year as the country is boosting natural gas…
Japan’s Mitsubishi sees no limits to petchem ventures with Iran
Japan’s Mitsubishi sees no limits in expanding cooperation with Iran in numerous areas, one of its officials told IRNA on Wednesday. Director General of the company’s department in charge of petrochemical affairs Heideki Konishi said Iran’s economic specifications in terms of human and natural resources makes it different from any…
Path to LNG
With the advancement in the technology of Liquid Natural Gas (LNG) infrastructure and the ease of transportation and storage of natural gas, many countries are on the quest for developing the technology needed for this clean source of energy. The establishment of a spot market for LNG has further given…
Iran moving away from ‘oil curse’
Iran is drifting away from an oil-centered economy greatly prone to spasmodic market volatility and turmoil, which has unfailingly stunted the country’s every bid for sustainable development. At their peak, oil revenues have caused an outbreak of virulent economic maladies, including stagflation and the Dutch disease – a situation when…
