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Iran to revise contracts for rehabilitating low-producing oil wells
Economy & BusinessIran, Islamic Republic of36 minutes ago

Iran to revise contracts for rehabilitating low-producing oil wells

Iran’s Oil Industry Innovation and Technology Park is preparing revisions to contracts for rehabilitating low-producing oil wells. The proposed changes would increase financial support, shift part of the risk to the National Iranian Oil Company, remove limits on the number of wells assigned to technology companies and provide online access to well data. Of 17 previous contracts, about five ended through withdrawal or termination and 12 continued. Existing contracts with a reasonable chance of success may be revised or extended.

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CNN: U.S. war with Iran has cost more than $45 billion
Economy & BusinessIran, Islamic Republic of3 hours ago

CNN: U.S. war with Iran has cost more than $45 billion

CNN, citing a Pentagon report to Congress, said the U.S. war with Iran had cost an estimated $45.1 billion through September 3, including $1.5 billion in additional fuel expenses. The estimate excludes some repair and indirect costs, and the Congressional Budget Office projected further monthly spending of $2 billion to $3 billion.

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Oil prices edge lower as gold posts modest weekly gain amid global market volatility
Economy & BusinessIran, Islamic Republic of3 hours ago

Oil prices edge lower as gold posts modest weekly gain amid global market volatility

Oil prices ended the week slightly lower, with Brent down 0.71% and WTI down 0.52% between September 11 and 18. Gold rose 0.16%, supported in part by easing inflation concerns linked to lower oil prices, while a stronger dollar and higher US interest rates limited its gains. Geopolitical tensions and concerns about possible oil-supply disruptions contributed to market volatility.

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Africa: From a National Concern to a National Plan
Economy & BusinessIran, Islamic Republic of11 hours ago

Africa: From a National Concern to a National Plan

An IRNA analysis argues that limited knowledge of Africa, rather than a lack of opportunity, is the main barrier to expanding Iran-Africa relations. It says recent conferences, official exchanges and provincial initiatives show a shift toward a strategic approach, but calls for a national plan with clear goals, responsibilities, funding, timelines and evaluation. The analysis also urges investment in both physical and institutional infrastructure and a move from goods trade toward technology transfer, joint investment and shared-value projects.

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Qanbari: U.S. Sanctions Now Rely on Broader Grounds; Free Zones Can Strengthen Economic Resilience
Economy & BusinessIran, Islamic Republic of11 hours ago

Qanbari: U.S. Sanctions Now Rely on Broader Grounds; Free Zones Can Strengthen Economic Resilience

Iranian Deputy Foreign Minister for Economic Diplomacy Hamid Qanbari said recent U.S. sanctions have broadened the grounds for designating individuals and entities, while emphasizing that sectoral activity does not automatically place everyone in that sector under sanctions. He called for continuous sanctions monitoring, stronger interagency coordination, preservation of institutional expertise and a comprehensive sanctions map. Qanbari also said easing domestic restrictions could allow Iran’s free zones to support alternative financial mechanisms, facilitate trade and strengthen economic resilience.

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Iranian Foreign Ministry Official Says Some Laws Need Review Under Sanctions
Economy & BusinessIran, Islamic Republic of11 hours ago

Iranian Foreign Ministry Official Says Some Laws Need Review Under Sanctions

Iranian Deputy Foreign Minister for Economic Diplomacy Hamid Ghanbari said parts of the country’s laws and regulations, including the Seventh Development Plan, need review under sanctions. He said revisions related to economic diplomacy were being pursued with the Plan and Budget Organization, while a government meeting also examined U.S. sanctions and global market effects linked to war.

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Uzbekistan Seeks Lower Transit Tariffs for Trucks Crossing Iran
Economy & BusinessIran, Islamic Republic of11 hours ago

Uzbekistan Seeks Lower Transit Tariffs for Trucks Crossing Iran

Uzbekistan’s ambassador to Iran asked Tehran to reduce transit tariffs for Uzbek trucks and expand transport cooperation. Officials from both countries also discussed a $2 billion trade target, visa facilitation, transit of Iranian goods through Uzbekistan and joint projects in agriculture, textiles, infrastructure and technical services.

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Renewable Power Development Seen as Key to Protecting Energy Infrastructure
Economy & BusinessIran, Islamic Republic of12 hours ago

Renewable Power Development Seen as Key to Protecting Energy Infrastructure

Former Securities and Exchange Organization chief Shapour Mohammadi said distributed renewable-energy infrastructure, particularly solar plants, could make Iran’s energy system less vulnerable to attacks. He spoke at the launch of subscription for investment units in the Hoorسان Sustainable Solar Power Plant Project Fund on the Energy Exchange and highlighted recent investment activity in renewable projects.

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Iran fuel distributor clarifies gasoline quota changes for high-value vehicles
Economy & BusinessIran, Islamic Republic of12 hours ago

Iran fuel distributor clarifies gasoline quota changes for high-value vehicles

Iran’s National Iranian Oil Products Distribution Company said most privately owned passenger cars continue to receive their existing subsidized gasoline allocations. It said the only pricing change since September 8 was an increase in the third-tier rate from 50,000 to 100,000 rials per liter, while a value threshold for newly produced domestic vehicles is being reviewed.

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War Risk Reportedly Multiplies Tanker Insurance Costs and Doubles Shipping Times
Economy & BusinessIran, Islamic Republic of12 hours ago

War Risk Reportedly Multiplies Tanker Insurance Costs and Doubles Shipping Times

Energy analyst Ehsan Janabi told IRNA that war-risk insurance for oil tankers has risen tenfold, while rerouting around Africa has increased oil-cargo transit times from 17 to 35 days. He warned that higher insurance, freight and fuel costs could raise oil, refined-product and LNG prices, while stressing that the figures and forecasts were his assessments.

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Energy analyst says China helped curb global oil price pressures through demand management
Economy & BusinessIran, Islamic Republic of12 hours ago

Energy analyst says China helped curb global oil price pressures through demand management

Energy analyst Mehrad Ebad told IRNA that China helped limit global oil price pressures by reducing crude purchases during supply disruptions, avoiding panic buying and replenishing strategic reserves when prices fell. He said China’s role as a major consumer had recently influenced the market alongside, and in some respects more noticeably than, producer actions. Claims about the size of China’s strategic reserves were identified in the report as unofficial.

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