Companies from Iran will supply some $2.5 billion worth of services related to natural gas for vehicles (NGV) business to Nigeria as part of recent agreement between the two countries, an industry source has revealed.
Iranian Oil Ministry’s fuel department (NIORDC) has slashed monthly gasoline quotas given to motorists in the country as it struggles to prevent fuel smuggling across the borders.
Figures by the Iranian customs office (IRICA) show that sales of petrochemical products reached over $9.14 billion in the five months to late August.
The Iranian government has finally authorized a law allowing the imports of finished cars more than four years after the country imposed a ban on such imports to protect local car manufacturers and to cut back on hard currency spending.
Iran’s labor ministry says nearly one million jobs have been created in the country in the year to late August despite economic problems facing the country because of foreign sanctions.
Oil Minister Javad Owji says Iran will "very soon" sign a major deal with Russia to import gas from the country for domestic consumption and deliver the same amount to customers at other parts of the Iranian borders.
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.
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.
The Iranian government has approved a raise in monthly pensions paid to millions of retired workers in the country.
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.