Renault to stay in Iran despite US sanctions: CEO

Tehran (ISNA) - French carmaker Renault will maintain its presence in Iran while taking measures to avoid the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said.

Indian oil imports from Iran surge to highest since 2016

Tehran (ISNA) - India’s oil imports from Iran surged to about 705,000 barrels per day (bpd) in May, their highest level since October 2016, according to data from shipping and industry sources, despite the threats of fresh U.S. sanctions.

Iran saffron exports hit high record

Tehran (ISNA) – Member of Tehran’s Chamber of Commerce, Industries, Mines and Agriculture, Kaveh Zargaran said, Iran’s saffron exports has maintained its increase during last year for the second consecutive year and has broken the record of saffron exports in the past 10 years.

For the first time in the world,

Injection catalysts for oil sludge built at Kermanshah refinery

Tehran (ISNA) – The chairman of the Kermanshah refinery board Sohrab Barandisheh announced that for the first time in the world the various injection catalysts for oil sludge were built.

Iran to increase oil production by 460 million barrels in three years: oil minister

Tehran (ISNA) - Iran is pursuing a plan to increase its oil output by 460 million barrels within three years, oil minister Bijan Zanganeh said, according to SHANA, the news site of the Iranian oil ministry.

Iran’s exports to Qatar increase 5-fold

Tehran (ISNA) – Iran’s exports to Qatar have increased five-fold.

Happened over Last Week of May;

Trading more than 575 thousand tonnes of Various Commodities on IME

Tehran (ISNA) - During weekdays ending up to May 31, approximately 575,213 MT of commodities worth over 339.5 million USD were traded in Iran Mercantile Exchange.

India BPCL seeks extra Iran oil

Tehran (ISNA) - Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent U.S. sanctions.

Japan to consult US, seek easing of Iran oil import curbs

Tehran (ISNA) - Japan will try to avoid any sudden reduction in its Iranian crude oil imports and may seek some form of exemption from the renewed US sanctions regime, an official at the country's Ministry of Economy, Trade and Industry, Daisuke Hirota, said.

Iran’s Zanganeh gives 60-day deadline to Total

Tehran (ISNA) – Iranian Oil Minister has given a 60-day deadline to the French oil company Total to hold a negotiation with the United States on the company’s cooperation with Tehran.

Iran’s non-oil exports grow 22 pct

Tehran (ISNA) – The latest report of the Islamic Republic of Iran Customs Administration (IRICA) shows that Iran’s non-oil trade with other countries registered a $942 million positive balance and non-oil exports also grew 22 percent.

Iran-US trade increases despite deterioration of diplomatic ties

Tehran (ISNA) – Iran’s trade with the United States has increased despite deterioration of diplomatic relations between the two countries.

Happened over the third week of May;

Trading 585,000 tonnes of various commodities on IME

Tehran (ISNA) - During weekdays ending up to May 24, approximately 585,430 MT of commodities worth over 331.4 million USD were traded in Iran Mercantile Exchange.

Iran gains footstep in Spain oil imports

Tehran (ISNA) - Following the agreements signed by the National Iranian Oil Company and the Spanish oil companies Repsol and Cepsa to encourage purchases of Iranian crude by Spanish refineries, Iran has positioned itself as one of the main suppliers, El Mundo reported.

EU could compensate firms hit by U.S. sanctions over Iran: French minister

Tehran (ISNA) - France is looking to see if the European Union could compensate European companies that might face U.S. sanctions for doing business with Iran, French Finance Minister Bruno Le Maire said.

Happened over the second week of May;

Trading 594,000 tonnes of various commodities on IME

Tehran (ISNA) - During weekdays ending up to May 17, approximately 594,329 MT of commodities worth over 331 million USD were traded in Iran Mercantile Exchange.

Iran’s light crude oil price jumps $3.02

Tehran (ISNA) - Iran’s light crude oil price jumped $3.02 in the week ended on May 11 to cross $73 per barrel, its highest since November 2014.

Iran strategic partner of EU: Bulgarian Economy Minister

Tehran (ISNA) – In a reaction to US’ withdrawal from 2015 nuclear agreement, Bulgarian Minister of Economy, Energy and Tourism called the Islamic Republic of Iran as the strategic partner of Europe, stressing on continuation of EU’s cooperation with Tehran .

China's CNPC ready to replace Total in Iran

Tehran (ISNA) – China’s state-owned energy major CNPC is ready to take over Total’s stake in the giant Iranian South Pars gas project if the French company leaves amid newly announced U.S. sanctions, industry sources said.

Chile new buyer of Iranian crude oil

Tehran (ISNA) – Iran has found an unlikely buyer for its crude oil after the decision by the US to re-impose sanctions in the form of Chile, trading and shipping sources said.

Iran crude accounts for 5% of total imports by Japan's biggest oil refiner

Tehran (ISNA) – The president of JXTG Holdings, Japan's biggest oil refiner says Iranian crude oil accounts for 4 to 5 percent of total imports.

Sending Iranian specialist workforce to Denmark

Tehran (ISNA) - Iran’s Minister of Labour Ali Rabiei said his purposes to visit Denmark are to hold separate meetings with Danish officials and discuss the employment and social affairs.

Iran to hold 23rd Int’l Oil, Gas, Refining and Petrochemical exhibition

Tehran (ISNA) - The 23rd International Oil, Gas, Refining and Petrochemical Exhibition of Iran will be held May 6-9, 2018.

Iran in talks with Japan to improve quality of fuel oil at Bandar Abbas Refinery

Tehran (ISNA) – The CEO of Iran's Bandar Abbas Refinery announced that the factory is in talks with Japan's Chiyoda Corp. to improve the quality of its fuel oil.

Facilitating cooperation necessary for promoting Tehran – Ankara economic ties

Tehran (ISNA) - Iranian President’s chief of staff Mahmoud Vaezi met with Turkish Minister of Economy Nihat Zeybekci, discussing the ways to develop and deepen economic and trade relations between the two countries in order to accelerate and facilitate the level of bilateral economic ties.

Iran’s Bank Melli, Turkey’s Ziraat Bank insist on developing bilateral cooperation

Tehran (ISNA) – The CEO of Bank Melli Iran and the chief of state banks coordination council, Mohammad Reza Hosseinzadeh held talks with the CEO of Turkey’s Ziraat Bank, Hüseyn Aydın.

Basra ready to import gas from Iran

Tehran (ISNA) – Iran’s deputy Oil Minister in Gas Affairs Hamid Reza Araqi announced that the city of Basra in Iraq is ready to import gas from Iran, which will be realized after paying for gas.

Milipol Qatar 2018 exhibition to host Iranian representatives

Tehran (ISNA) - Milipol Qatar 2018, the leading international exhibition dedicated to homeland security and Civil Defense in the Middle East, has invited Iranian experts in the field of industry to participate in the event.

Iran’s non-oil trade with France grows over 80 pct

Tehran (ISNA) – Iran traded $1.8 billion worth of non-oil goods with France in the last Iranian year (ended March 20, 2018).