TEHRAN – The value of Iran’s non-oil trade rose 25 percent during the third quarter of the current Iranian calendar year (September 23-December 21, 2021) as compared to the same period of time in the past year, the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced. According to Ruhollah Latifi, Iran traded […]
Preamble: Iran is a country located in Western Asia. Iran is the second largest country in the middle east and the 18th largest county in the world by area, with many investment opportunities and economic advantages. According to Principle 44 of Iran’s Constitution, the economy of Iran consists of three sectors: Public, Private, and Cooperative. […]
Tehran, IRNA – Kazakh Ambassador in Tehran Askhat Orazbay has said that Iran and Kazakhstan have witnessed over two-fold growth in their trade exchange during the first nine months of 2021 compared with the preceding year. Orazbay made the remarks at a ceremony on 30th anniversary of Independence Day of Kazakhstan.As the ambassador said, Iran […]
WASHINGTON (Bloomberg) –The Biden administration has ordered an immediate halt to new federal support for coal plants and other carbon-intensive projects overseas, a major policy shift designed to fight climate change and accelerate renewable energy worldwide. The wide-ranging directive for the first time bars U.S. government backing for future carbon-intensive ventures, potentially affecting billions of […]
LONDON (Bloomberg) –The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group. There are signs that demand may be weakening in some markets going in […]
Oil logged its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market. West Texas Intermediate for January delivery tumbled 3.2%, while the expiring December contract lost 3.7%. Europe’s Brent skidded 2.9%. The wave of infections in […]
TEHRAN – Iranian Transport and Urban Development Minister Rostam Qasemi said on Sunday that positive agreements have been reached with neighboring countries, for expansion of transportation cooperation, especially in the aviation sector, IRNA reported. Speaking in the ceremony on introducing the new head of Civil Aviation Organization (CAO), Qasemi said: “We recently reached agreements with […]
(Bloomberg) –President Joe Biden acknowledged that OPEC+ countries won’t increase oil output enough to meet U.S. demands and left the door open to a range of options, as the administration weighs whether to tap the Strategic Petroleum Reserve. Biden was responding to a question about using the reserve after the oil-producing group, which includes Saudi […]
TEHRAN – Heads of Iranian and Omani chambers of commerce met in Tehran on Monday to discuss expansion of cooperation in various areas, the Portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported. Head of Oman Chamber of Commerce and Industry (OCCI) Redha bin Juma Al Saleh met with Gholam-Hossein Shafeie at […]
(Bloomberg) –OPEC and its allies will stick to their slow pace of oil-production increases, disregarding U.S. President Joe Biden’s demand to go faster. After a brief meeting on Thursday, the group approved a 400,000 barrel-a-day production hike for December, delegates said. That’s a pace that major consumers say is too slow to sustain the post-Covid […]