Iranian banks to open in India
India’s media reported on Thursday that two major Iranian private sector banks will soon open branches in India, stressing that the measure is meant to energize commercial ties between New Delhi and Tehran. The decision was amongst a slew of commercial measures taken by the India-Iran Joint Commission that met…
Tehran’s path to LNG
Endowed with 18 percent of the total world natural gas reserves, Iran is bound to be a powerhouse in this sustainable ‘energy of the future’. Major challenges along the way lie in the development of Liquified Natural Gas (LNG) infrastructure, meeting the burgeoning domestic demand and improving public awareness and…
Nearly 9m tons of goods transited from Iranian borders in 9 months
Some 8.803 million tons of commodities were transited from 32 Iranian land and sea borders over the past nine months, Official with the Roads Maintenance and Transportation Organization Mohammad Javad Atrchian said on Wednesday. Atrchian said that 3.954 million tons of the transited commodities were oil products with 4.847 million…
India eager to take up work in Farzad B Gas Field
India’s External Affairs Minister Sushma Swaraj asked Iran to make all necessary arrangements so that New Delhi can participate in the development of the giant Farzad-B gas field in the Persian Gulf. Swaraj expressed her country’s eagerness to participate in the $5 billion Farzad-B gas field as soon as possible,…
Iran to attract $28b foreign investments in electricity projects
Energy Minister Hamid Chitchian said here on Thursday that Iran has planned to attract foreign investments, worth $28 billion, in electricity projects in the next few years. Talking to IRNA, Chitchian said some 47,000 to 50,000 MW of electricity should be added to the country’s electricity generation capacity within 10…
Iran, Russia firms to build oil rigs
Iranian shipbuilder ISOICO says it has signed an agreement with Russian shipyard Krasnye Barrikady (Red Barricades) for oil rig construction and technology transfer. ISOICO Managing Director Hamid Rezaian said the agreement will allow his company to take advantage of the Russian firm’s facilities to produce certain equipment. “We are ready…
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…
