Energy Economy

The cuts had previously been agreed by Russia and OPEC kingpin Saudi Arabia at the G20 summit in Osaka last weekend.

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati underlined the need for the EU to purchase Iranian crude to finance the Instrument in Support of Trade Exchanges (INSTEX).

The National Iranian Oil Company (NIOC) announced that it is due to offer 2 million barrels of crude oil in the international ring of the Iran Energy Exchange (IRENEX) on Tuesday.

Free trade zones in South and North of Iran can serve as the gates of entry and exit for transiting Indian cargoes destined for Eastern and Northern Europe with helpful economic expemtions.

Iran has witnessed an increase by 19.130 tons in its exports from the Southwestern port city of Abadan in the last 3 months. which means a year-on-year growth by 107%.

Non-oil exports from the Northern Iranian province of Ardabil show a 30% year-on-year rise in the last three months. Director General of Road Maintenance and Transportation in Ardebil province Ali Rahmati declared.

Iran and Austria have witnessed one of the most active periods of bilateral economic relations after the landmark nuclear deal. officially known as the Joint Comprehensive Plan of Action (JCPOA). was signed on July 14. 2015.

New research from Which? suggests some customers have been hit by overnight price hikes of hundreds of pounds after their supplier went out of business.

Secretary General of the European External Action Service (EEAS) Helga Schmid announced that the EU-proposed Instrument in Support of Trade Exchanges (INSTEX) to trade with Iran has become operational.

A new report from CDP warns this is despite the sector being at risk of missing targets set by the International Maritime Organization.