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Iran, Russia sign major deals on automative cooperation

Iranian automotive companies and their counterparts in Russia have signed some $700 million worth of deals to expand their cooperation at a time the two countries are shoring up their defenses against Western sanctions.

Mine and Industry

Iranian oilfield shared with Saudi Arabia to come on stream in three years

Iran says it will start pumping oil from a key oilfield that straddles the maritime border with Saudi Arabia in the Persian Gulf within the next three years.

Energy

Iran raises pensions for retired workers by over 38%

The Iranian government has approved a raise in monthly pensions paid to millions of retired workers in the country.

Society Economy

Iran, Pakistan close to inking free trade agreement

Iran and Pakistan are expected to sign a free trade agreement (FTA) within the next six months, says a senior Pakistani government official, amid efforts by the two neighbors to boost their bilateral trade.

Trade

Iran expected to join Russia’s Mir payment system within few months

An Iranian finance ministry (MEFA) official says the country is in very advanced stage of talks to join Russia’s Mir payment system.

Financial Markets

Iran says its fuel output has not dropped

An Iranian petroleum industry source has denied reports suggesting that fuel production in the country has declined because of the lack of proper management on renovation operations in refineries.

Energy

Iran raises prices for September crude deliveries

The National Iranian Oil Company (NIOC) has raised its crude oil prices for deliveries to Asian and European customers in September.

Energy

Iran, Afghanistan discuss water, energy issues

Iran’s Minister of Energy, Ali Akbar Mehrabian, at the top of a delegation, on Wednesday paid a visit to Afghan capital Kabul and held meetings with the Taliban’s ministers of Energy and Water, Foreign Affairs, Information and Cultures and deputy Prime Minister, Mullah Baradar.

Energy

Major Iranian gas project to produce 5 million t/yr of LNG

A subsidiary of the Iranian Oil Ministry said on Tuesday that it had obtained the government permit for an LNG production train that will have an output of 5 million tons per year (t/yr).

Energy

Iran says key gas pipeline to Azerbaijan near completion

The National Iranian Gas Company (NIGC) authorities say a major gas pipeline project that is being constructed along the Caspian Sea is near completion amid Iran’s plans to increase gas supply to Azerbaijan under a swap deal with Turkmenistan.

Energy

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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