Iran's Economy News

[Shotgunner51]

IKCO to Establish Production Line in Oman

TEHRAN (FNA)- Oman has requested Iran Khodro Industrial Group to establish a car production site there through Muscat's financing, IKCO’s CEO and President Hashem Yekee zare said after a meeting with the Manager of Oman’s free trade zone of Duqm Yahya al-Jaberi.
During the meeting, IKCO’s CEO referred to the historic relations between Iran and Oman adding that the site can provide Iran Khodro with an easy access to markets deep in eastern and northern regions of Africa.

He also expressed hope that the site could be established as soon as possible with the financial support of Oman’s Development Fund.

Yekke Zare emphasized that Oman project begins with the establishment of a production line which will develop further into a production site after a while.

He referred to the industrial strategy of Iran Khodro developed by Iran’s Ministry of Industries and Mines saying:” Based on the strategy the number of our products would reach to three million vehicles for national and international markets.”

For his part, al-Jaberi praised the high technologies of Iran Khodro saying the commercial relations between Iran and Oman need to expand further like their political ties.

Al-Jaberi said Oman’s free trade zone of Duqm enjoys a high capacity for exporting cars to India, Pakistan, Bangladesh and eastern Asia.

“IKCO’s products facilitate our access to Asian markets. On the other hand, Dqum enjoys some appropriate grounds for car production,” he said.

Iran Khodro Deputy for Export and International Affairs, Saeed Tafazzoli also held talks with al-Jaberi. During the talks, Tafazzoli referred to the last joint economic meeting between Iran and Oman in December saying:”During the meeting we concluded to expand our projects in Oman.”

“Several months ago, the heads of Oman’s Development and Investment Fund visited Iran to discuss the possibility of establishment a joint venture to produce IKCO vehicles in Oman,” he said.

Tafazzoli also noted that IKCO would provide the site with engineering services and spare parts. According to him, the site establishment would be financed by Oman’s government and Development Fund. The site is expected to produce 15 thousand vehicles each year

Good news!

 

[Hack-Hook]

IKCO to Establish Production Line in Oman

TEHRAN (FNA)- Oman has requested Iran Khodro Industrial Group to establish a car production site there through Muscat's financing, IKCO’s CEO and President Hashem Yekee zare said after a meeting with the Manager of Oman’s free trade zone of Duqm Yahya al-Jaberi.
During the meeting, IKCO’s CEO referred to the historic relations between Iran and Oman adding that the site can provide Iran Khodro with an easy access to markets deep in eastern and northern regions of Africa.

He also expressed hope that the site could be established as soon as possible with the financial support of Oman’s Development Fund.

Yekke Zare emphasized that Oman project begins with the establishment of a production line which will develop further into a production site after a while.

He referred to the industrial strategy of Iran Khodro developed by Iran’s Ministry of Industries and Mines saying:” Based on the strategy the number of our products would reach to three million vehicles for national and international markets.”

For his part, al-Jaberi praised the high technologies of Iran Khodro saying the commercial relations between Iran and Oman need to expand further like their political ties.

Al-Jaberi said Oman’s free trade zone of Duqm enjoys a high capacity for exporting cars to India, Pakistan, Bangladesh and eastern Asia.

“IKCO’s products facilitate our access to Asian markets. On the other hand, Dqum enjoys some appropriate grounds for car production,” he said.

Iran Khodro Deputy for Export and International Affairs, Saeed Tafazzoli also held talks with al-Jaberi. During the talks, Tafazzoli referred to the last joint economic meeting between Iran and Oman in December saying:”During the meeting we concluded to expand our projects in Oman.”

“Several months ago, the heads of Oman’s Development and Investment Fund visited Iran to discuss the possibility of establishment a joint venture to produce IKCO vehicles in Oman,” he said.

Tafazzoli also noted that IKCO would provide the site with engineering services and spare parts. According to him, the site establishment would be financed by Oman’s government and Development Fund. The site is expected to produce 15 thousand vehicles each year

Hope it be something that Iran khodro decide they want or they don't want themselves not like previous ones some politician order them to do so.

 

[Aramagedon]

Iran’s 2016 economic growth seen at 5.8%

Tehran, Jan 8 – The World Bank has forecast a major growth rate of 5.8 percent for the Iranian economy in 2016 as the country starts to benefit from the economic gains that the removal of multiple year sanctions is expected to bring about.

The WB says Iran’s economic growth will be specifically encouraged by an expected rapid rise in its oil production after the removal of sanctions that have so far banned big oil companies to take their technology as well as their funds to develop the Iranian oil fields. The Bank says it expects Iran’s oil production to increase by an estimated 0.5–0.7 million barrels per day (mbd) in 2016 up from the 2015 level of 2.8 mbd.
Iran reached a historic nuclear deal with the P5+1 group of countries – the permanent members of the Security Council plus Germany – in July 2015. Based on the deal, Iran would restrict certain aspects of its nuclear energy activities in return for the removal of the nuclear-related economic sanctions.
US Secretary of State John Kerry said on Thursday that the implementation of the Iran nuclear deal may be only ‘days away,’ stressing that Iran has met all commitments toward the deal.
The WB in its report titled “Global Economic Prospects: Spillovers and Weak Growth” says the potential increase in capital inflows in the post-sanctions environment will also boost the Iranian natural gas production. That, together with the much-anticipated release of Iran’s frozen assets will give a further push to the progress of the Iranian economy.
“A rebounding Iranian economy will affect neighboring countries within the Middle East and North Africa to varying degrees,” it further added. “A rapid rise in Iranian oil production would dampen growth prospects in oil-exporting countries and improve them in oil-importing countries.”
The World Bank elsewhere emphasized that Lebanon and Turkey will particularly benefit from the openings created in Iran business environment in a post-sanctions era.
“Lebanese banks have already indicated that they are interested in operating in the Islamic Republic of Iran,” it said adding that Turkey remains an important trading partner for Iran.
The report has further emphasized that Iran’s economy will also grow to 6.7 percent in 2017 before shrinking to 6.0 percent in 2018. All forecast growth rates will be the highest in the Middle East and North Africa and among the highest in the world.
The world’s highest growth rate for 2016 will be for India at 7.8 percent followed by Bangladesh (6.7 percent) and China (6.7 percent).
The growth rate for the world in 2016 will be 2.9 percent and for the developing countries will be 4.8 percent.

Iran's 2016 economic growth seen at 5.8%

 

[Aramagedon]

Iran to build oil refinery in Spain

Tehran, Jan 8 – Deputy of Iran’s oil minister says the negotiation with Spanish firm is underway to build a refinery of about 200,000 barrels in order to ensure Iran’s oil sale.

Speaking to a reporter on Saturday, Abbas Kazemi, deputy oil minister and managing director of the National Iranian Oil Refining and Distribution Company (NIORDC), said that following the Spanish side’s proposition, Iran is to build a refinery in order to boost Iran’s crude export.

Noting the capacity of the refinery which is 200,000 barrels per day, he stated that Iran and Spain has equal share in the project’s investment.

“The negotiations are underway and is yet to be finalized,” he underlined, adding that the project is economically justifiable due to the steady supplies that it creates for Iran’s crude oil.

Elsewhere in his remarks, he also highlighted that investing in overseas refineries is one of the most common ways used by oil producing countries to boost crude exports

The deputy of Iran’s oil minister earlier had said that “in order to boost oil exports, we must create new demand outside the country so that we would be able to guarantee long-term sale of our country’s crude oil.”

Iran to build oil refinery in Spain: Oil ministry

 

[KediKesenFare3]

PressTV-Iran set to raise post-sanctions oil output

 

[Aramagedon]

Iran opens $6 billion gas operations

President Hassan Rouhani, center, and Minister of Petroleum Bijan Zangeneh, to his right, arrive in Asaluyeh to open Phases 15 and 16 of South Pars. ©Shana

Iran brings online two more operations in its biggest gas field, marking the opening of the first such project all carried out by domestic entities in the face of Western sanctions.

President Hassan Rouhani attended inauguration of phases 15 and 16 of the South Pars field in Asaluyeh on Monday along with other senior officials, including his Petroleum Minister Bijan Zangeneh.

The operations with $6 billion of investment bring the number of phases producing gas in the field to 17, with another 12 phases under development.

Zangeneh said, “I hope with the lifting of sanctions which will happen in the next days as the implementation day nears, the development of joint fields will be carried out with better access to equipment.”

“Phases 15 and 16 of South Pars which were implemented and commissioned under sanctions will produce 56.6 million cubic meters of gas a day to meet domestic need for fuel especially by household, commercial and industrial consumers,” he said.

The two phases will also yield 75,000 barrels per day of gas condensate plus 400 tonnes of sulfur. It will generate $20 million a day of foreign exchange earnings, according to Ministry of Petroleum's Shana news agency.

Iran shares South Pars with Qatar which calls it North Field. Qataris have raced ahead of Iran in developing the deposit in partnership with the likes of Royal Dutch Shell, Total and Exxon Mobil while sanctions have clipped Iran’s wings.

President Rouhani has already complained of “irregular extraction” from joint fields by neighbors which have taken advantage of sanctions against the Islamic Republic.

A full development of South Pars is estimated to generate $112 billion of revenues a year for Iran, which could rise to more than $120 billion after production from the field’s oil layer.

Iran will offer oil extraction from the South Pars gas field along with three other gas fields to foreign investors, Managing Director of Pars Oil and Gas Company (POGC) Ali Akbar Shabanpour said last August.

The project is estimated to hold 7 billion barrels of oil in reserves. Iran will also offer North Pars, Golshan and Ferdowsi gas fields for development, Shabanpour said.

'All done by Iran'

Phases 15 and 16 were carried out by a consortium of Iranian companies. Khatam al-Anbia, the construction arm of the Islamic Revolution Guards Corp, won the tender for the two phases in 2005.

"All phases of construction, installation and operation at phases 15 and 16 of South Pars have been done by Iranian experts," Zangeneh said.

With more than 34 trillion cubic meters under its belt, Iran owns the world’s largest natural gas reserves but its share of the global trade in gas is less than one percent.

Officials hope to attract $40 billion in the gas industry after the sanctions are removed.

Iran seeks to raise gas production to 1.2 billion cubic meters (bcm) a day in five years, from 800 million cubic meters now. Annual output totals 166 bcm, which is mostly used at home.

Currently, the country exports 10 bcm of gas per year. To put it in perspective, Russia exports about 150 billion cubic meters of gas a year.

"Natural gas will be the main fuel in the next 20 to 30 years,” international affairs director at National Iranian Gas Co. Azizollah Ramezani has said.

The priority is to pipe gas to neighbors with further plans for exports of LNG to Asia and Europe.

PressTV-Iran opens $6 billion gas operations

 

[KediKesenFare3]

I love you
Iran.

 

[fox 2]

I can see Iran' s future economy.

 

[Aramagedon]

@Serpentine jan could you merge this thread to my old thread? https://defence.pk/threads/irans-economy-news.375561/

Thanks

 

[KediKesenFare3]

Welcome back, 2800.

 

[Aramagedon]

Welcome back, 2800.

Thank you bro.

 

[Serpentine]

....

 

[scythian500]

in excess of 420 BILLION DOLLARS in revenue annually (100 billion more than Iran's annual GDP!!!)

This is one cultural problem some Iranians have. Some of them find themselves as masters of everything.
General comments are always regarded as just comments. But GOD.. Economy!!

You don't have to make a clown out of yourself giving deep analysis about stuff you don't have a fuccking clue about!!

Revenue!! God.. Good to have No-brain drain sometimes!!

 

[KediKesenFare3]

http://www.akhlaghi.net/wp-content/...reement-19th-Bi-Weekly-N-A-January-7-2015.pdf

 

[KediKesenFare3]

Turkey wins against Iran on gas price dispute, to receive 10-15 percent discount

Turkey won an arbitration case against Iran in a gas dispute. Accordingly, it will receive a 10-15 percent discount on gas purchased from Iran between 2011 and 2015.

The news was announced by the Iranian Deputy Oil Minister Hamid Reza Araqi, the country's semi-official Tasnim news agency reported on Tuesday.

The minister reportedly said, "Although the court's [the International Court of Arbitration court] ruling is final, the money which Iran should pay out to Turkey has not yet been determined," while estimating the compensation to be around $1 billion.

Turkey currently imports about 10 billion cubic meters of gas per year from Iran (the country's second supplier after Russia) under a 25-year deal that was signed in 1996.

However, stating that the price charged by Iran was too high, Turkey in 2012 approached the international court of arbitration, demanding that the price be lowered by 25 percent.

Iran on the other hand, agreed to the discount only if the imported amount of gas was to be higher, which Ankara rejected. The issue was therefore taken to the court.

Accordingly, the court came to a decision, settling the price at a 10-15 percent discounted value in Turkey's favor, according to the Iranian minister's statements.
http://www.dailysabah.com/energy/20...ice-dispute-to-receive-10-15-percent-discount