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South Pars Gas Extraction Soars to 716 mcm Daily: NIOC Reports Record Production Levels
The National Iranian Oil Company (NIOC) announced a record daily extraction of 716 million cubic meters from the South Pars gas field on February 13, 2024. This milestone highlights NIOC’s commitment to maximizing the potential of one of the world’s largest gas fields, crucial for Iran’s energy sector and economy. The achievement reflects advanced extraction technologies and emphasizes South Pars’ strategic importance for domestic energy needs and exports. As NIOC aims to increase production and address challenges like international sanctions, its efforts are vital for Iran’s energy security and economic stability, positioning the country as a key player in the global energy market.
Iran-Africa Economic Cooperation Conference Launches New Era of Trade and Investment
The Third Iran-Africa Economic Cooperation Conference is taking place in Tehran, gathering high-ranking officials and private sector leaders from Iran and Africa to explore economic opportunities and strengthen ties. Organized by Iran’s Ministry of Industry and Foreign Affairs, the conference commenced on April 27 and includes a visit to Isfahan to showcase Iran’s industrial capabilities. Concurrently, the IRAN EXPO 2025 will run from April 28 to May 2, highlighting Iran’s export potential. This event aims to enhance trade relations, share expertise, and foster diplomatic and cultural exchanges, ultimately paving the way for increased collaboration and sustainable development between Iran and African nations.
EU’s Bold Response to Trump’s Tariff Announcement: Insights from French Foreign Minister
European nations are urged to unite against potential US tariff threats, as highlighted by French politician Barrot. He emphasizes the importance of defending European interests and advocates for diplomacy over conflict, recalling past tariff impositions under Donald Trump in 2018. Trump recently announced plans for a 25-percent tariff on steel and aluminum imports, along with potential “reciprocal tariffs.” This situation raises concerns about retaliatory measures and economic repercussions for Europe. Analysts warn of increased consumer prices and strained relationships, prompting European leaders to consider coordinated responses, such as counter-tariffs and enhanced trade negotiations, to safeguard their economies.
Iran’s Path to Economic Recovery: Politicians and Economists Pin Hopes on US Negotiations
A senior adviser to Iran’s Supreme Leader, Ali Larijani, is advocating for transferring economic control from the government to the people to address issues like international sanctions, inflation, and currency depreciation. Currently, around 80% of Iran’s economy is state-controlled. Larijani criticized the inefficiency of government oversight and emphasized the need for administrative reforms and global engagement for stability. He also highlighted the detrimental impact of U.S. sanctions on Iran’s economy, suggesting that direct negotiations with the U.S. could ease tensions. Economist Ali Ghanbari echoed these sentiments, urging a focus on national interests and strategic partnerships.
Russia Set to Launch Rasht-Astara Railway Studies in Just 2 Months!
Russia is set to begin engineering studies for the Rasht-Astara railway, enhancing trade and connectivity with Iran, as confirmed by Russian Transport Minister Roman Starovoit. The executive agreement for the project is expected to be finalized by March 2025, following a recent annex agreement that allows preliminary studies. The 162-kilometer railway will link Rasht in Iran to Astara on the Azerbaijan border and is estimated to cost €1.6 billion, with Russia providing a €1.3 billion loan. This project is part of the larger International North-South Transport Corridor, aimed at improving regional trade routes and economic ties.