Iran’s aluminum production rose by 23% in the seven months to October 22, shows a report, as the country continues to expand its production capacity for precious metals.
Iran has signed contracts with two domestic automakers to produce 6,000 trucks with the help of Chinese manufacturers, the head of Iran’s Road Maintenance and Transportation Organization said on Tuesday.
Iran’s steel exports rose by almost a third in the seven months to October 22, shows a report by the country’s top metals holding IMIDRO.
A report shows that Iran has been earning an average of around $1.3 billion per month in oil exports revenues despite sanctions imposed by the United States.
The administrative government in Iran has introduced a bill in parliament to remove a heavily subsidized exchange rate which is used to fund imports of staples and medicine into the country.
Iran produced 267 billion cubic meters of natural gas in 2019, making the country the world’s third-largest producer after the US and Russia despite the most draconian sanctions imposed on the country.
Latest figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iran’s crude output rose slightly in September to reach 2.503 million barrels per day (bpd).
The Government Trading Corporation (GTC) of Iran says wheat imports into the country would reach record levels in the calendar year to March amid a sharp fall in domestic crop which has been caused by drought as well as by price issues.
Iran and the Eurasian Economic Union (EAEU) have started three-day talks in the Armenian capital to discuss a potential free trade deal between the two sides, the official IRNA news agency has reported.
European Union Aviation Safety Agency (EASA) has dismantled a nearly two-year advisory notice that had warned against flying over Iran over safety reasons.