Iran and Russia have signed three major memoranda of understanding (MoU) to expand energy and banking ties, says Iran’s Oil Minister Javad Owji.
Iran and Oman have signed 12 cooperation documents and memorandums of understanding for the expansion of bilateral cooperation in various fields, as Iranian President Ebrahim Raeisi visits the Persian Gulf sultanate.
Minister of Petroleum Javad Owji says Iran agreed to form a committee with Oman to jointly develop the Hengam oilfield, which straddles their sea border.
Electricity use in Iran has peaked to an annual high of 50 megawatts (MW) per hour as authorities expect the consumption to rise in the coming days with a warm spell driving up cooling demand across the country.
Iran has launched a major power plant in its largest island in the Persian Gulf amid efforts to boost investment in the region.
A very large Iranian crude carrier is set to discharge 2 million barrels into an oil terminal in China this week after Western media reports claimed that Beijing might be replacing Iran’s barrels with cheaper Russian shipments.
Iran will barter its crude oil for grain shipments from Cuba as part of agreements reached between senior officials from the two countries in recent weeks, says a senior Iranian Foreign Ministry official.
Cuba is seeking Iran’s help to expand its mining and metals sector as the two countries move to raise their economic cooperation to a new level.
Iran’s largest carmaker the IKCO has reported a record daily output figure amid efforts in the company to improve production processes.
The Iranian government has approved major price hikes for four essential food items as part of a plan to liberalize prices by removing subsidies given to importers and suppliers and redirecting them to the households.