President Trump will keep the Joint Comprehensive Plan of Action (JCPOA) and target the Islamic Revolutionary Guards Corps (IRGC) in a new White House policy announced today. The announcement will please allies concerned that the president would pull the US…
Category: Iran
Hyundai poised to win $650m Iran ship deal
Islamic Republic of Iran Shipping Lines (IRISL) Group and South Korea’s Hyundai Heavy Industries Company are holding the final talks about a $650m deal of providing 10 ships for Iran. The contract calls for Hyundai to build four 14,400 TEU container…
Iran and Saudi Arabia woo foreign investors
Iran and Saudi Arabia, competitors in Middle East politics and global oil markets, have this week stepped up campaigns to win tens of billions of dollars of foreign investment. Riyadh successfully raised $17.5bn in its first sovereign bond issue. The IMF said…
Iran invites bids for 50 oil and gas projects
The National Iranian Oil Company (NIOC) has given international companies a month to submit prequalification bids for 50 oil and gas contracts. This is the biggest opportunity for foreign firms to bid for Iranian oil projects since sanctions against the…
Iran invites bids for energy projects
Iran will begin taking applications today for an unspecified number of energy projects, the oil ministry’s news agency SHANA reported on Sunday. National Iranian Oil Company (NIOC) said “reputable and eligible companies” should fill the applications for upstream oil and gas…
IMF says Iran GDP growth to be 4.5 per cent this year
The IMF said in a statement released today at the end of annual Article IV talks with Iran that the Islamic republic’s economy will expand robustly this year, inflation is moderating and the government is implementing major reforms to accelerate growth.…
BP and Shell close to Iran breakthrough
BP and Royal Dutch Shell are close to finalising preliminary agreements to evaluate exploration and production opportunities in Iran, the International Oil Daily has reported. The imminent deals represent a major breakthrough for international oil companies in Iran and delivers…
Iran rejects output cuts
Iran’s Minister of Petroleum Bijan Zanganeh Iran has repeated its assertion that it’s unwilling to accept production cuts so long as its market share remains below where it was before the embargo imposed by most importers on Iranian oil in…
EU calls for closer co-operation with Iran
For full coverage of Middle East business, see MEED The EU has called for closer economic and political co-operation as a way of helping bolster stability in the Middle East and capitalising on trade and investment opportunities emerging following the…
Swiss win Iran petchems job
Sadaf Petrochemical Assaluyeh Company has awarded Welding Engineers of Switzerland a contract for construction, installation and operations at its complex in southern Iran, Irna newsagency has reported. Irna said it was the first contract signed in the petchems sector with…