Energy Economy

The US has turned from a major oil consumer into a major producer.

The Iranian special trade mechanism set up to reciprocate the European Instrument in Support of Trade Exchange. blasted Europe for procrastinating in introduction of a bank to Iran to put the INSTEX into effect.

Indian Ambassador to Tehran Gaddam Dharmendra said that Iran’s Southeastern port city of Chabahar is of prime importance to New Delhi. adding that the two countries increase their trade in the last year by 30%.

Iran has exported $ 2.5 billion worth of goods to Iraq in the past 100 days which indicates a 20% spike compared with the corresponding period in the last year.

The National Iranian Oil Company (NIOC) has planned to offer 2 million barrels of heavy crude oil on the Iran Energy Exchange (IRENEX) on July 9.

Some environmental campaigners have reacted cautiously to the research.

Iran and Pakistan signed a memorandum of understanding (MoU) to promote bilateral trade and increase investment between the two countries.

Iranian Minister of Industry. Mine and Trade Reza Rahmani said. after a visit to Pakistan. that Islamabad is enthusiastic about developing economic. bilateral. and commercial ties with Tehran.

Deputy Head of Ghana Trade and Development Organization Samuel Denetto said that his country imported $46 million worth of goods from Iran. and exported $52 million worth of agricultural products to the Islamic Republic in the same period.

The 55.4MW project is expected to reduce carbon emissions by more than 36.000 tonnes a year.