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oil

Iran private firms to build offshore vessels for Persian Gulf oil operations

In a bid to reduce its dependency on foreign companies and consequently offset sanctions, Iran has been able to reduce by 60% the number of foreign vessels that have been used in the countrys oil operations.

Energy

OPEC agrees output cut after crunch talks despite US pressure

Member states of the Organization of the Petroleum Exporting Countries (OPEC) and 10 other oil producing nations have agreed to cut output by 1.2 million barrels a day despite opposition from US President Donald Trumps administration.

Energy

India welcomes US waivers on Iran oil purchase

India welcomes the United States decision to grant exemptions to the country to continue the import of Iranian crude oil despite re-imposition of sanctions on Iran, saying New Delhi is examining the details of the waivers.

Trade

US grants 8 countries Iran sanctions waivers

The US administration has agreed to allow eight countries to continue purchasing Iran’s crude oil after Washington’s sanctions on Tehran take place next Monday, a senior official said Friday.

Energy

Neither Riyadh, nor others can replace Iran oil: Zanganeh

Irans Minister of Petroleum Bijan Zanganeh dismisses the rhetoric by the Saudi crown prince about Riyadhs capability to replace sanctions-hit Iranian oil, saying that the global market will never believe such claims.

Energy

Oil deal with Europe close despite Trump threats: Zarif

Iran’s Foreign Minister Mohammad Javad Zarif said Tehran was closing in on an agreement to sell oil to European nations despite American threats of sanctions against any country that does business with Iran.

Energy

India not to fully cut oil purchases from Iran

As the United States is preparing to impose oil sanctions against Iran, indications are growing in New Delhi that the second biggest client of Iranian oil will not fully cut its purchases from Tehran.

Trade

Iran asks OPEC to keep oil output caps

Iran demanded its fellow OPEC members stick to crude production ceilings and defied the threats of Donald Trump as the U.S. president targets its crucial oil exports.

Energy

Europe has guaranteed Iran’s oil sale: Zarif

Addressing a meeting of Iran’s Chamber of Commerce in Tehran on Sunday, Zarif commented on the future of Iran’s economy under mounting pressures from the enemies.

Energy

OPEC agrees modest hike in oil supply after Saudi and Iran compromise

OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to curb rising fuel costs.

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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