Energy Economy

As the outbreak of coronavirus, also known as COVID-19, has shut down many industrial and production units and also has reduced steel production in world, Iran’s steel production experienced a 14.1 percent growth in Mar. 2020, World Steel Association (WSA) announced.

Seven investment contracts were concluded by the private sector during the last year and five more are underway in the first half of the current Iranian year.

Eurasia has granted preferential tariffs and exemptions from customs duties to 10 Iranian export goods since April 1, said the head of the Industry, Mine, and Trade Organization of Gilan Province.

The President of Iran and the Prime Minister of Armenia described the relations between the two countries friendly and developing and stressed the need for officials to work together in the Joint Commission on Cooperation to develop bilateral, regional and international relations between Tehran and Yerevan. In a telephone conversation …

China’s trade with Iran has reached a stunning new low. Data released Thursday by the Chinese customs administration show that declared imports of Iranian oil in March amounted to just $115 million, down 89%, year on year.

The global oil market is on track to test storage capacity limits in as little as three weeks, requiring the shut-in of nearly 20% of global production, according to Goldman Sachs Group Inc.

An historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% for the world’s biggest producer of oil and leave thousands of workers unemployed.

Romania is preparing to reopen after lockdown, but says its economy will never be the same again.

The latest front in the war against drilling for oil in Alaska’s rugged wildlife refuge isn’t Washington -- it’s Wall Street.

Iran’s non-oil exports to Iraq are reported to have increased by 0.7 percent. For the Iranian calendar year 1398 (ended on March 19), non-oil export to Iraq hit $8.9 billion, according to a deputy with the country’s Trade Promotion Organization (TPO). Tehran Times reports that medicines and medical equipment, plastic …