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Europe interested in Iran economic projects

Category: News

Head of the Presidential Office Mohammad Nahavandian said that European companies are interested to participate in Iran's economic projects adding that the country is no longer a sole importer of finished products.

'Any country that wants to cooperate with Iran has to think of participation in an investment with the objective of export of goods,' he told IRNA on Friday.
Winding up his visit to London to attend the conference on Iran's economic opportunities and challenges, he added, 'Any form of expansion of cooperation shall avoid interference in internal affairs, respect the independence of Islamic Iran, and agree with national development policies.'
'The London conference was an opportunity to present Iran's economic realities, its potentials, and development goals to this European economic center,' he added, according to IRNA.
Referring to the post-sanctions era, he added, 'It is imperative that the existing opportunities be employed to secure access to the market, technology, and capital to strengthen the national production capacity.'
In addition to taking part in the three-day conference, Nahavandian said, bilateral meetings were held with political and economic officials focusing on joint investment in infrastructure, oil, gas, and energy as well as in industrial sectors and environment.
'Another important issue which was stressed was enhanced cooperation in financial and banking services,' he said adding that London can serve as a hub linking Iranian and European banks.
'It was reiterated in the meetings that full implementation of the Joint Comprehensive Plan of Action (JCPOA) can be achieved through expedited provision of financial services by non-American banks which do not fall under US sanctions.'
Nahavandian also said that in the Friday meeting with members of the Iran-UK chamber of commerce, the European side expressed its interest to participate in Iran's economic development projects.
On the political negotiations in London, the head of the Presidential Office said that besides bilateral ties, regional and global developments were discussed in meetings with Foreign Secretary Phillip Hammond, Trade Secretary Sajid Javid, and Prime Minister's National Security Advisor Mark Lyall Grant.
'It was stressed that Europe and UK, in particular, have to make additional efforts so that (nuclear) talks will lead to practical results as stipulated by the Supreme Leader.'
With the withdrawal of sanctions, he said, everybody agrees that they were futile measure.
'UK Prime Minister David Cameron in a letter to the Barclays has instructed the bank to boost all of its operation to provide banking services to the Iran-UK economic ties so that any obstacle on the way of economic cooperation is lifted,' he said.
'Also Foreign Secretary Hammond said that UK will take every measures to expand banking ties with Iran and that a delegation to be headed by Trade Secretary Javid is schedule to visit Iran in coming months.'
Nahavanidan also said that in a meeting at RUSI think-tank the negative impacts of Islamophobia in encouraging of extremist terrorist groups were highlighted.

 

 

 

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Global oil traders enter barter deals with NIOC

Category: News

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Researchers find cure for cataract using stem cells

Category: News

In a landmark breakthrough in cataract treatment, researchers have managed to regenerate a living lens through using patients' own stem cells to restore the vision.

A group of researchers from the University of California, San Diego School of Medicine, and Shiley Eye Institute along with scientists from the Sun Yat-sen University in China devised the method and successfully reversed blindness in 12 infants born with congenital cataracts. The collective published their findings in the journal Nature on Wednesday, reported by presstv.ir.

Cataract, a slow progressing malfunction in the lens of the eye, happens when the lens loses transparency and turns cloudy, which leads to a decrease in vision. The most common causes of cataract are age, trauma, radiation, and genetics. About half of the total number of blindness in the world and about a third of any kinds of visual impairment worldwide are caused by the disease.

In the conventional treatment, the impaired lens is replaced with an intraocular one, which could lead to infections, inflammation, and a night time halo effect in vision, particularly in children.

In the new method, however, instead of using a transplant, the malfunctioning lens is extracted but the lens capsule is left intact. Then, the nearby cells are coaxed to move to the capsule and grow into a fresh and functioning lens.

“An ultimate goal of stem cell research is to turn on the regenerative potential of one's own stem cells for tissue and organ repair and disease therapy… We believe that our new approach will result in a paradigm shift in cataract surgery and may offer patients a safer and better treatment option in the future,” said Dr. Kang Zhang, the chief of Ophthalmic Genetics section and founding director of the Institute for Genomic Medicine at UC San Diego School of Medicine.

All the twelve Chinese children, who underwent the operation, were under two years old, but researchers hope that the new method could also help older people to overcome the disease and regain their vision.

 

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German vice-chancellor due in Tehran

Category: News

German Vice-Chancellor and the Federal Minister for the Economy and Energy, Sigmar Gabriel, heading a high-ranking delegation, will travel to Tehran soon, the country's ambassador in Tehran said Monday.

Expressing satisfaction with the amicable relations between the two countries, particularly in post-sanctions era, Michael Freiherr von Ungern-Sternberg told IRNA that German Foreign Minister Frank-Walter Steinmeier's recent visit to Iran indicated the importance he attached to Iran and the Middle East.

Referring to ten German delegations' Iran visits in post-JCPOA era, he said that the upcoming delegation's visit to Tehran will focus on trade ties.

Sternberg also said that diplomacy played a major role in recent exchange of visits between Iranian and German officials.

The current volume of trade between Iran and Germany stands at about €2.5 billion and officials from both sides have already expressed hope that this would rise to as high as €10 billion before 2020.

Several German trade delegations have so far visited Iran to explore the avenues for investing in the Islamic Republic.

The biggest delegation arrived in Tehran in July comprising 60 businesspeople. The delegation was the first foreign delegation visiting Iran after the country signed a nuclear deal with the P5+1 and was headed by the German vice-chancellor.

 

 

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Saipa in talks with Citroen, Renault, Kia Motors

Category: News

Iranian car manufacturing company Saipa is conducting negotiations with French automakers, Citroen and Renault, as well as South Korea's Kia Motors Corporation, announced the company's CEO.

Speaking to the Tasnim News Agency, Mahdi Jamali pointed to Saipa's plans for cooperation with major international automakers and said that the company is in talks with France's Citroen but not with Peugeot.

He added that Saipa has also entered in talks with Kia Motors Corporation headquartered in South Korea.

"In addition to the two companies, we are also in talks with Renault," he said, adding that Renault is not going to work in joint production with Iran Khodro, Saipa's rival company in Iran.

Iran's automotive industry is the second largest industry in the country, after its oil and gas, accounting for 10 percent of the country's gross domestic product.

The industry is expected to grow significantly after Iran and the six world powers reached a conclusion on the text of a comprehensive deal on Tehran's nuclear program in July 2015 and started implementing the agreement on January 16.

The nuclear deal between Iran and the P5+1 (Russia, China, the US, Britain, France and Germany) terminated all nuclear-related sanctions imposed on Iran.

Source:Irandaily

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Swiss president to visit Iran Friday to expand ties

Category: News

Swiss President Johann Schneider will visit Iran on Friday to expand Bern-Tehran relations in economic and political fields.

Swiss presidential office said in a statement on Wednesday that Schneider will lead a big economic and scientific delegation to Iran, IRNA reported.

President Schneider will review issues such as regional security and immigration, human rights as well as education, research and innovation.

The statement said that promotion of economic relations, inaugurating of financial systems to ease mutual economic affairs and talks with senior Iranian officials in the context of joining the World Trade Organization and cooperation with the international organizations will be on agenda.

The Swiss president will deliver a lecture to the students and the academic board of University of Tehran on economic and political issues.

A 40-member delegation comprising presidents of major Swiss companies will accompany the president.

Iran-Switzerland relations date back to the 17th century.

In April, a senior Swiss economic delegation led by former Swiss ambassador to Tehran Livia Leu traveled to Iran. 

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Italy to build three solar plants in Iran

Category: News

An Italian energy company plans to construct solar power plants in three Iranian cities with a total capacity of 10 MW.

Officials with Italy's Finergy Company held talks with authorities at Iranian Ministry of Energy and the Renewable Energy Organization of Iran during a recent trip to Iran, Tasnim News Agency reported.

During the meeting, the Italian side expressed its readiness to invest in Iran's renewable energies sector.

It was agreed in the negotiations that Finergy will fund and construct three solar power plants with a total capacity of 10 MW in the cities of Kerman, Yazd and Shiraz.

Further talks are underway on Iran's use of Finergy's experience in the fields of biomass and plasma technology.

In December 2015, Germany signed an initial agreement with Iran to invest in the construction of four solar power plants in the southeastern province of Kerman.

Based on the initial agreement, a solar power plant will be set up in the city of Mahan in addition to two others in Rayen and another power plant in Yazdanabad District in Zarand County.

An Iranian deputy energy minister said at the time that a host of foreign firms are keen on investing in Iran's electricity and water industries, noting that regular meetings are underway to single out the best among them.

Iran has formulated plans to diversify electricity generation from the plants that use renewable energy sources, such as wind or solar power.

The country's electricity industry ranks 14th in the world and the first in the Middle East in terms of electricity generation by having an installed power generation capacity of 67,806 MW.

Solar photovoltaic generation, known as PV, contributes 96 to 98 percent less greenhouse gases than electricity generated from 100 percent coal, according to the Energy

Research Center of the Netherlands.

 

Source:Irandaily

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Happy Engineers Day!

Category: News

Happy Engineers Day!

 

 

Engineees and Staff of MBN Co.

 

 

 

engineer day-happy-MBN Co.engineer day-happy-MBN Co.

 

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Romanian refinery to process Iranian oil

Category: News

A first Iranian oil shipment will arrive in Romania soon as the country takes advantage of the lifting of international sanctions against Tehran.

A first cargo of around a million barrels of crude oil is to arrive this week at the Romanian port of Constanta, marking the return of Iran to the European market after years of sanctions against Tehran, balkaninsight.com reported on Monday.

A further three million barrels are expected to be shipped to Spain and other European ports for France’s Total Oil.

The oil delivered to Romania is destined for the Petrotel refinery in the southern Romanian city of Ploiesti, which is owned by Russian company Lukoil.

Analysts say this will help Petrotel to recover after prosecutors seized assets worth some €2 billion last year in connection with a tax evasion and money-laundering probe.

The Petrotel refinery is still functioning, but not at its maximum capacity.

Economic analysts say Romania must take further advantage of the reopening of the Iranian market.

“Romania has to renew its traditional economic relations with Iran, a huge market, with good financial resources. We could export [everything] from industrial equipment to IT solutions there,” said Adrian Negrescu from business information company Keysfin.

Trade between Romania and Iran amounted to some $150 million last year, more than half of what it was before sanctions were imposed on Tehran.

 

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Source:Irandaily

 

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Japan eyeing Iran’s oil prize Azadegan

Category: News

New indications have emerged that show Japan has become interested in the development of Iran’s Azadegan oil field that industrialists have for long described as the crown jewel of the country’s oil projects.

Platts has quoted a senior Japanese government official as saying that Azadegan is in a list of upstream projects in which Tokyo is interested. 

"With Iran holding one of the largest oil and gas reserves in the world, we recognize that upstream developments would be extremely [good opportunity] for Japanese companies," Yuki Sadamitsu, the director of the oil and gas division at the Ministry of Economy, Trade and Industry has told Platts.

"As the government, we are interested in upstream opportunities including Azadegan in Iran," Sadamitsu said.

Inpex, Japan's largest upstream company, had a stake of 10 percent in the project but withdrew in 2010 following the Japanese cabinet's decision which is believed to have been prompted by US pressures.

IRAN SACKED CNPC

Azadegan has already been described as Iran’s biggest oil discovery in multiple decades and is believed to have an in-place reservoir of 42 billion barrels.

Iran awarded the project to China’s CNPC in 2009. However, the country’s oil officials later indicated major discontent with the performance of the Chinese company and accordingly announced in April 2014 that it had been kicked out of Azadegan. 

In late January, Iran’s media said the country is discussing the development of the megaproject with the French energy giant Total.

The production target that Iran has set for Azadegan in its second phase of development is 210,000 barrels per day (bpd) which is expected to rise further to as high as 320,000 bpd in a later stage.

The project is currently producing 110,000 bpd.   

SUPPORTING IRAN INVESTMENTS

Elsewhere in his interview with Platts, Sadamitsu has emphasized that Tokyo intends to provide financial support for Japanese companies once commercial decisions for participating in Iran’s oil projects are made.

Asked to comment about Japan's potential interests for participating in projects in Iran, he said the government has kept its options open for exploration, development and enhanced oil recovery projects, leaving it to the Japanese companies to make commercial decisions.

But Sadamitsu said it remains unclear whether Iranian upstream projects will be "attractive" compared to projects in other countries such as in Iraq as there are still areas that need to be clarified in the new Iran Petroleum Contract (IPC).

While noting Japanese companies are running a series of cost reviews in the low oil price environment, the official emphasized that the government is looking at ways to enhance its financing schemes to help the companies making new upstream investments.

"Especially under the current difficulties, we are looking at whether the [government] can take more risks if private companies are making their commercial decisions," Sadamitsu said.

 

Source:Irandaily

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