Economy

Iranian trade delegation to be dispatched to China, Japan in mid-Aug. (Tehran Times – 30 May 2017)

 Industry, Mining and Trade Department of Khorassan Razavi province in eastern Iran, is planning to dispatch a trade delegation to China and Japan on August 14 for expansion of economic relations, Trade Promotion Organization of Iran announced.

The delegation will be comprised of businessmen and entrepreneurs in various areas including auto industry, electronics, petrochemicals, medicine, textile, medical equipment and etc.

China, Iran’s number one trade partner, is the world’s second biggest economy followed by Japan in third plac

EEU to finalize free-trade deal with Iran (IRNA- 30 May 2017)

Eurasian Economic Union is going to make a free-trade deal with Iran by the end of year 2017, according to a British newspaper.

he deal when finalized would be a big step in strengthening relations between the EEU member states: Russia, Kazakhstan, Belarus, Kyrgyztan and Armenia, with Iran, and a victory for the body itself, the report published yesterday in Financial Times reads.
“The EEU’s prime ministers resolved in March to make talks with Tehran a priority, scenting an opportunity to expand beyond the bloc’s combined market of 183m people,” according to the British newspaper.“We believe we can come up with something substantial by the end of the year . . . finished talks,” Financial Times quotes Timur Suleimenov, Kazakhstan’s minister of economy.

Oil & Gas

Official: Agreement with Shell to be finalized soon (IRNA – 30 May 2017)

 Managing Director of Maroon Petrochemical Company (MPC) Rahim Sharif Mousavi said on Monday that engineering agreement with Shell Company will be finalized in coming weeks.

He pointed to planning of the company to execute two new plans, including Ethylene Oxide project, and said that for engineering sector of the two plans, the MPC had negotiated with Dutch-Shell Company and two other Italian companies, like “ Techno-Mount”, and now is in convening contract process.
He added that it is possible the engineering contract with Shell to be finalized in the coming weeks and new plans of the MPC to be started.

Already director of investment department of National Petrochemical Industries Company Hossein Alimorad had said the company is negotiating with known European company with the aim to transfer technology and the agreement is the outcome of Joint Comprehensive Plan of Action (JCPOA) and is to be signed soon.

NIOC, PNOC ink MoU on oil exploration (IRNA – 30 May 2017)

National Iranian Oil Company (NIOC) and Philippine National Oil Company (PNOC) signed memorandum of understanding (MoU) on oil exploration.

Among contents of the MoU were investment for the development of oil and gas fields of Pasanan in Ahwaz.
The MoU also covers development of the third phase of Darkhovein in Khoramshahr, investment for construction of Liquid Natural Gas (LNG) plant in Iran and supplying crude oil for constructing refinery in Mindanao, the second largest island in Philippine.