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Headlines:

 

 

Plan to Buy More Pakistan Rice

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Tariffs on Pakistani rice have been reduced.

Iran will increase rice imports from Pakistan, The tariffs on Pakistani rice have been reduced and there will be ’zero-rated’ export duty on fruit exports to Iran.

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Imports From Turkey Rise

The volume of trade exchange between Iran and Turkey stood at USD 604.1 million dollars in the first two months of 2006 showing an increase of over 23.8 percent compared with the figure in the previous year.


According to the reports, two-way transactions in the first two months of 2005 were at 488.1 million dollars.


Trade exchange hit 4.4 billion dollars in 2005 showing an increase of over 57.4 percent.


According to the Turkish State Statistical Institution, Turkey exported 61.628 million dollars worth of goods to Iran in February 2006 and imported goods worth 174.475 million dollars.


Turkey’s exports valued at 108 million dollars, to Iran early this year shows a 73.19 percent decrease compared with the 2005 figure. However, its imports from the Islamic Republic valued at 495.43 million dollars during the same period points to a 45.9 percent increase compared with the previous year/\TOP

 

Western Oil Firms Active

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Oil giant Shell started redevelopment of Norouz and Soroush oilfields in 2005, bringing their daily output to 90,000 and 50,000 barrels, respectively.

Italy’s leading oil company, ENI, plans to start redevelopment of the Darkhovin and Soleiman oilfields to raise their daily production to 110,000 barrels.


ENI is involved in development of the two oilfields since 2004.
According to a reports , the company is also involved in development of South Pars gasfield phases IV and V since 2004, raising its overall production to 80,000 barrels per day.


The oil giant Shell also started redevelopment of Norouz and Soroush oilfields in 2005, bringing their daily output to 90,000 and 50,000 barrels, respectively.
As a result of redevelopment projects undertaken in Doroud oilfield by France’s Total in 2004, its daily production has now reached 80,000 barrels and the company plans to participate in redevelopment of Salman, Forouzan and Doroud oilfields in participation with PetroIran by 2007.


In the meantime, the National Iranian Oil Company and Korea’s LG have been selected as contractors for development of phases XI and X of South Pars scheduled to start by 2009.

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Petrochemical Trade Improves

Iran’s petrochemical exports topped $2 billion during March 2005-06,

 

Iran exported nearly $2.3 billion worth of petrochemical products last year, a 25 percent rise compared to the previous when the amount stood at $1.7 billion,

 

10 million tons of petrochemicals were traded during the period, 5.5 tons of which were shipped overseas and the rest used by the domestic market.


Asia, Europe and Africa are main importers of Iran’s petrochemicals, noting that the share in the Asian market is set to increase significantly given China’s rapid economic growth.

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IDB to Provide $150m for Water Projects

Domestic Private Investors Absent

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Iran has made remarkable progress in the past two decades with respect to building dams and harnessing rainwater.

The Islamic Development Bank (IDB) will fund four major water industry projects in Iran, which are worth $150 million.


Jegin and Shamil & Nian dams in Hormuzgan province as well as the project to supply water to Qeshm and another major project in Mazandaran province will be implemented with the help of IDB funds,

 

The World Bank (WB) has also lent another $150 million for the Zagros irrigation and watershed project, which is currently underway.

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South Pars Among Priority Projects

The government has given top priority to the development of South Pars gas fields.

South Pars will be developed in more than 15 phases and several foreign energy companies and contractors are already involved in the multi-billion dollar projects.


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