Iran has risen to become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales.
ECONOMY Feed Atom
Oil sector growth was announced as positive over the first three months of the current Iranian calendar year of 1403, which began on March 21.
Canada’s GDP grew by 0.3 per cent in April, according to Statistics Canada. The agency said 15 out of 20 sectors it monitored all grew, but wholesale trade, mining, quarrying and oil and gas contributed the most.
The Islamic Republic of Iran ranks fourth in West Asia in attracting Foreign Direct Investment (FDI) after the United Arab Emirates, Saudi Arabia and Turkey, an official said.
Russia has for the first time sent two trains laden with coal to India via the International North-South Transport Corridor (INSTC), which connects Russia to India via Iran, according to a statement by Russia’s national railway company.
Indian Oil Corporation Ltd is quoting at Rs 163.22, down 0.64% on the day as on 13:19 IST on the NSE. The stock jumped 80.06% in last one year as compared to a 26.38% rally in NIFTY and a 67.22% spurt in the Nifty Energy index.
Iran unveiled the digital currency “CBDC” in a ceremony on Sunday attended by Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin and some senior CEOs of the country’s banks.
Indian imports of Russian coal have declined while U.S. shipments have risen in the three months ending in May, data from coal consultancy Bigmint showed, which traders attributed to Russian supplies becoming less competitive.
Shares of Indian Oil Corporation Ltd. traded 0.17 per cent up in Monday's trade at 12:22PM (IST). Around 933,990 shares changed hands on the counter.
In a joint meeting, the Energy Ministers of Iran and Belarus emphasized the readiness of the two countries regarding cooperation in the field of gas turbine production.
The members of the Shanghai Cooperation Organization (SCO) have stressed the need to enhance cooperation in the areas of production, transmission, and consumption of energy.
Iran's gross domestic product (GDP) including oil grew 4.5 percent in the previous Iranian calendar year (ended on March 19), compared to a year earlier, according to the Central Bank of Iran (CBI).
On the sidelines of the Shanghai Cooperation Organization (SCO) meeting in Kazakhstan, Iranian Energy Minister Ali Akbar Mehrabian voiced the readiness of the Islamic Republic of Iran to export technical and engineering services, as well as supply equipment in the energy sector.
China’s Customs Office put the trade exchanges between Iran and China in the first five months of the current year (January to May 2024) at about $6.0 billion.
Head of Central Bank of Iran (CBI), Mohammad Farzin, says that Iran has registered the highest rate of economic growth in the region.
The India government aims to boost oil and gas output, ethanol use, and green hydrogen, with profitable state-run oil firms like BPCL not being sold off. Petroleum and natural gas minister Hardeep Singh Puri emphasized these steps as a continuation of previous efforts.
Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage technology, according to a report by consultancy Deloitte and released by the Alberta government.
The Council of the European Union adopted a decision on 17 June to extend the sanctions imposed by the EU in response to the annexation of Crimea and the city of Sevastopol by the Russian Federation until 23 June next year.
Iran’s economy grew by 5.7 percent in the fiscal year ending in late March 2024, marking the highest growth since 2017, according to the Statistical Center of Iran (SCI).
The volume of bilateral trade between Iran and Russia increased by 48 percent during the first quarter of 2024 when compared with corresponding period last year.