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Oil Sanctions against Iran Cost $7bln for EU in 2 Months
TEHRAN (FNA)- The sharp increase in oil prices following the European Union's oil ban against Iran (July 1) has cost the 27-member bloc nearly $7bln in the past two months. ( 17:56:37 - 2012/09/04)

Afghan Trade Official Dismisses US Call for Halt of Trade with Iran
TEHRAN (FNA)- Deputy head of Afghanistan's Chamber of Commerce strongly rejected a US call for a halt of Afghan trade ties and exchanges with a number of Iranian firms, stressing that stopping trade with neighboring Iran is "totally impossible". ( 16:25:02 - 2012/09/04)

Pakistan to Host ECO Legislators' Meeting
TEHRAN (FNA)- Lawmakers of the Economic Cooperation Organization (ECO) member states arrived in Islamabad, Pakistan, to attend a 2-day meeting. ( 16:16:06 - 2012/09/04)

Deputy Minister: Iran's Foreign Trade Exceeds $37.6bln in 5 Months
TEHRAN (FNA)- The volume of Iran's trade with the outside world amounted to $37.6bln during the first five months of the current Iranian year (March 20-August 21) irrespective of the western sanctions, Iranian Deputy Minister of Industry, Mines and Trade Hamid Safdel announced on Tuesday. ( 15:49:07 - 2012/09/04)

Iran-Herat Railway to Start Operation in Months
TEHRAN (FNA)- Afghan officials announced on Tuesday that the country will finish construction of a railway line linking Afghanistan to Eastern Iran in the next few months. ( 15:34:27 - 2012/09/04)

Ahmadinejad: Iran Ranks 17th in World Steel Production
TEHRAN (FNA)- Iranian President Mahmoud Ahmadinejad announced on Tuesday that Iran is the 17th steel producer in the world. ( 15:05:46 - 2012/09/04)

Iran's Major Insurer Offers P&I Cover to All Tankers Carrying Iranian Oil
TEHRAN (FNA)- Chairman of Iran Insurance Company Javad Sahamian said Tehran will provide insurance cover for any oil tanker carrying Iranian crude oil. ( 14:33:17 - 2012/09/04)

Iran to Host UN Int'l Energy Conference in Autumn
TEHRAN (FNA)- The United Nations named the Iranian capital as the host of the next UN international energy conference this December. ( 11:23:53 - 2012/09/04)

Iran Warns of Dire Consequences of Western Sanctions for Global Oil Prices
TEHRAN (FNA)- Iranian Oil Minister Rostam Qassemi warned that the US and EU sanctions against Iran's oil exports would hike crude prices in the world market, which will, in turn, have devastating consequences for consuming nations. ( 11:17:37 - 2012/09/04)

Iran, Turkey Discuss Boosting Energy Deals
TEHRAN (FNA)- Iranian Oil Minister Rostam Qassemi voiced pleasure in his talks with Turkey's Development Minister Cevdet Yilmaz on increasing energy deals between the two neighboring nations, saying that the negotiations would continue in Ankara in future. ( 09:15:10 - 2012/09/04)

PEDEC Starts Development of Yaran Oil Field
TEHRAN (FNA)- Executive works at Southern Yaran oil field have been started in a bid to extract oil from the field, Managing Director of the Petroleum Engineering and Development Company (PEDEC) Nader Qorbani said. ( 09:12:37 - 2012/09/04)

Iran to Use 18% of Stabilization Fund for Oil, Gas Industry
TEHRAN (FNA)- Iranian Oil Minister Rostam Qassemi said the country would spend 18 percent of its stabilization fund for the development of the oil and gas sector. ( 09:10:26 - 2012/09/04)

Iran Drills 2,700mln/m of Wells
TEHRAN (FNA)- Managing Director of the National Iranian Drilling Company (NIDC) Heydar Bahmani said that his company has drilled 2,724 million meters of oil and gas wells in the last 7 years. ( 09:09:47 - 2012/09/04)

Official: Foreign Investment in Iran Growing Despite Boycotts
TEHRAN (FNA)- Western sanctions against Iran are ineffective as the volume of foreign investment in the country has increased to $1.2bln during the last 6 months, Iran's Deputy Economy Minister Behrouz Alishiri announced on Monday. ( 13:43:09 - 2012/09/03)

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