Shares of giant state-owned companies will be floated in the bourse in the near future.

Iran’s Bourse Organization and Bursa Malaysia have inked a memorandum of understanding to expand cooperation.
The MoU was signed by head of Iran’s Bourse Organization, Ali Salehabadi and Malaysian bourse official Zarina Anwar on Saturday.
According to Mehr, the deal sets the framework for extensive cooperation between Iran and Malaysia on development of markets in the two countries. Both sides will also exchange information, know-how and experts to improve their bourses.
Iranian and Malaysian organizations will as well inform one another on the latest market developments and cooperate on attracting idle capital into stock exchanges.
Speaking at the ceremony, Salehabadi termed the agreement as a major step towards the participation of the Islamic country in international markets.
He has no doubt that the MoU will open a new chapter in expansion of ties between Iran and other countries in the field.
“The agreement will link Iranian bourse with international stock exchanges paving the way for participation of Islamic states in foreign bourses.“
The official recalled that preliminary negotiation on the MoU was conducted last year in Kuala Lumpur, Malaysia.
Salehabadi said that as per Article 44 of the Constitution, shares of giant state-owned companies will be floated in the bourse in the near future.
The Article 44 seeks large-scale privatization in key economic areas which were off limit private enterprises for about three decades.
According to him, stocks of these firms can be offered in foreign bourses if they meet the criteria.
The official noted that shares of Malaysian companies can also be floated in Iran’s stock exchange if they comply with the indices of the country’s capital market.
Salehabadi contended that the Bursa Malaysia has been successful in recent years. Presently, the capital market of the Asian country is valued at $330 billion.
Tehran’s Stock Exchange’s Brokerage Organization had earlier signed a memorandum of understanding with Bahrain bourse to exchange views and organize training courses.

Tehran and Moscow will henceforth authenticate the certificates of Iranian and Russian sailors in each other’s country, managing director of the Ports and Shipping Organization (PSO), Ali Akbar Taheri Motlaq said Sunday.
Under an agreement reached between PSO chief and Alexander Davidenko, head of Russia’s Federal Agency of Sea and River Transport, both sides will expand marine transport ties, he noted.
According to the official, they also agreed to cooperate on conducting training courses in the field of marine technologies, IRNA wrote.
Under the deal, both sides will facilitate shipping and maritime transport within the framework of International Maritime Organization, Taheri Motlaq said.
The two sides also discussed development of North-South Transport Corridor in the two-day meeting held in Astrakhan Port.
Eleven managers and representatives of private companies such as Kaveh, Tide Water, Khalij-Tajan as well as state-run Khazar Shipping Line accompanied senior Iranian officials.
Iran and Russia also agreed to boost cooperation in attracting goods to be transferred via the route.
The Islamic state also suggested Iranian companies to invest in Astrakhan Port. The Russian side expressed readiness to continue talks in this regard.
India, Iran and Russia earlier signed an agreement in 2000 for transport of commodities from India and South Asia to Russia and north European countries via Iranian territory.
The corridor connects Mumbai with St. Petersburg via Tehran and Moscow. In effect, it links the Indian Ocean with the Baltic Sea. Value of trade between Iran and Russia exceeded $2.1 billion in 2006. The Islamic state exported $236 million worth of commodities to Russia.
Since Iran is situated along the North-South Corridor and has some 3,000 km of coastal borders, the country can earn billions of dollars as a main maritime transport route by upgrading infrastructures and facilities.

Persian Gulf is home to the most vital oil and gas resources in the world. It is situated in the most sensitive and strategic areas known by many politicians as the ’Heart of the World’. The name ’Persian Gulf’ is well known in the industrial world. According to a 2002 report, Iran’s oil and gas resources were estimated at 270 million barrels, 37 percent of which is oil and the remaining 63 percent is gas. These natural resources are mainly located on the Iranian shores of the Persian Gulf.

Asalouyeh
Although the refinery installments are eye-catching during daytime, this city must be visited at nights. Asalouyeh is a city close to the Persian Gulf, 276 kilometers southwest of Bushehr. Just ten years ago the city was known as a remote area. Residents of this city, which was a village then, were unaware of the wealth buried underneath and engaged in fishing to make ends meet. Later official studies revealed that the area holds 6.8 percent of the world’s gas resources and 33 percent of Iran’s water resources.
After 12 years of preliminary studies in the area, Asalouyeh attracted the attention of many Iranians and foreign investors. It is now recognized as the most important economical centers of Iran and the biggest energy production center in the world.
Natural gas resources have made Asalouyeh the most important gas-city of Iran and its residents are now proud of their city. They expect to see Asalouyeh become the biggest energy hub in the Middle East.
Iran took serious steps to launch its projects in Asalouyeh 1999. The entire project includes 28 phases. Five phases have become operational and five phases are in the construction stage. Location for 10 phases is being finalized and the remaining eight phases are considered for export activities. The project adds 10 percent to the country’s GDP annually. There are 40,000 people, experts and workers, involved in the projects. What makes Asalouyeh more important is that its gas export revenues can equal the oil earnings in near future. Experts believe that the project is the most important oil and gas development scheme in the country. The huge oil and gas installations of ’Jam’ and ’Kharg’ are home to the seven percent of the world’s gas resources making Bushehr province the best place for establishing oil, gas and petrochemical related industries.
The main purpose of this enormous project, which is undoubtedly the biggest oil-industrial zones in the Middle East, is to pave the way for attracting foreign investors. Foreign investment will ensure economic growth and employment. It will also help the economy of the country in the long-term. Neighboring free and international waters is another advantage of Asalouyeh.

South Pars
Undoubtedly South Pars Gas Field (SPGF) is one of the world’s biggest independent gas fields. Its development project is also among the largest industrial undertakings. It straddles Iran-Qatar maritime border. The Qatari side, with the help of some western countries began exploiting this gas field sooner than Iran and during the Iraq-imposed war on Iran (1980-88) they could make big benefits from this natural resource. The Iranian government has recently paid more attention to it by allocating foreign exchanges. There are five refineries operating in Asalouyeh bringing Iran some $20 million in revenue daily. Economical experts predict that the expected $50 billion of investment in the area will fetch $40 billion annually for the national economy.
SPGF is located over an area of 9,700 square kilometers of which 3,700 kilometers is exploited by Iran. Petrochemical installments refine sour gas extracted from the field. Crude gas is sour, hot and smells awful. It is also prone to igniting an explosion. Refineries liquidate the gas and prepare it for export. Propane and butane are the two major products exported from the refineries. They are transferred to vessels by pipes after they are stored in the refineries. Estimates show that Qatari side exploits 125,000,000 cubic meters daily from SPGF.
Iran holds the world’s second largest gas reserves and should consider international investments to increase exports. According to official figures, global demand for gas will increase 2.3 percent annually before 2030. LNG or liquefied natural gas will be most in demand globally in next decade as public transportation system prefers it to gasoline petrol. It is cheap and has less pollution. Iran should therefore plan to become one of the main exporters of LNG in the world by expanding its refineries and LNG terminals. The United States is the biggest importer of LNG in the world. It imports LNG from different countries particularly Qatar.

Average increase in gasoline consumption has been 10 percent and above since March 2006.

Thirty oil tankers dock in southern and northern ports monthly to offload gasoline consumed nationwide, said a senior official with the National Iranian Oil Refining and Distribution Company.
Farid Ameri told IRIB News on Saturday that 20 oil tankers with a capacity of 30,000 tons each berth in the southern ports per month.
Ten 4,500-ton oil tankers also offload imported gasoline in the northern ports each month, he added.
The official recalled that global gasoline prices have recently increased due to rise in crude prices.
According to him, prices of gasoline climbed to a record high of $770 per ton in the global market.
Referring to rising gasoline consumption in the country, Ameri noted that gasoline consumption grew by nine percent during 2001-2005. “Average increase in gasoline consumption has been 10 percent and above since March 2006.“
He warned that if the current rising trend continues, domestic gasoline consumption will hit 117 million liters per day.
Stressing that the government paid $11.5 million in gasoline subsidies during the year to March 2007, Ameri welcomed the Majlis approval to ration gasoline.
He contended that the heavy financial resources currently spent on fuel subsidies can be pumped into development projects once the rationing system is implemented.
“These millions of dollars can be spent on constructing tens of hospitals and educational centers as well as thousands of schools and revolutionize the development sector,“ the official underlined.
In late March, Majlis authorized the government to offer rationed gasoline at 1,000 rials (11 cents) per liter through smartcards.
Lawmakers also permitted the government to determine the price of gasoline sold in excess of the rationed quota.
Based on the mechanism, consumers will pay 1,000 rials per liter for rationed gasoline and will have to buy extra volumes at higher rates.
The government is to implement the Majlis approval to sell rationed gasoline via smartcards at 1,000 rials per liter as of May 22.

Economic cooperation between Iran and Spain, particularly in the research and agricultural sectors will expand, reported Iran’s Embassy in Madrid late Saturday
According to IRNA, deputy agriculture jihad minister, Jafar Khalaqani and Spain’s deputy minister of Agriculture, Fisheries and Food, Santiago Menendez de Luarca Navia Ososrio agreed on expanding bilateral agricultural relations.
The Spanish official expressed satisfaction over recent expansion of relations between the Islamic state and Latin American countries.
Highlighting his country’s historical and traditional ties with Latam states, he suggested boosting trilateral cooperation (Iran-Spain and Latin American countries) in shipping and agricultural sectors.
“Iran and Spain have high capabilities in agricultural education and research. They are capable of assisting Latin America in this respect.“
According to Menendez, Latin American countries like Cuba have achieved progress in the scientific front as well as biotechnology.
These advancements can play a key role in development of trilateral cooperation.
The official noted that Spain--a leading country in agriculture and fisheries--can share its experiences with Iran, particularly in the implementation of sustainable development in rural areas.
Khalaqani, who doubles as head of Agricultural Research and Education Organization, welcomed proposals by Spanish side, expressing readiness to strengthen bilateral ties.
Briefing the Spanish official on Iran’s scientific achievements and self-sufficiency (in production of wheat), Khalaqani said that the Islamic state is interested in making use of the experience of the European state on olive cultivation and production.
On behalf of Iran’s agricultural jihad minister, Khalaqani invited the Spanish minister to visit Iran.
Speaking at the same gathering, Iran’s Ambassador to Spain Davoud Salehi described Spain as one the most influential countries in the European Union.
“Spain can serve as a bridge between Iran and the EU,“ he underlined.
Referring to Iran’s progress in the agricultural sector, the diplomat stated that the Islamic state is ready to export wheat and seafood to the southwestern European country.
He recalled that Spain will host EXPO Zaragoza 2008: Water for Sustainable Development on June 11-Sept. 14, 2008.
“Iran--an advanced country in dam-construction and water control--is prepared to help Spain which has been experiencing water shortage in recent years,“ Salehi concluded.

A meeting of signatories of the Convention for the Protection of the Marine Environment of the Caspian Sea (Tehran Convention) will be held on Wednesday in Baku, Azerbaijan Republic.
At the three-day gathering, Caspian Sea littoral states will debate ways of preventing pollution in the world’s largest inland body of water, IRNA reported on Saturday.
The conferees will also sign documents on preventing pollution in the Caspian as well as issue a joint statement.
Conservationists and environmental experts maintain that oil extractions by littoral states and foreign companies in as well as the release of urban waste and discharge of pollutants from Volga and Kura into the Caspian Sea have badly polluted the landlocked sea.
Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan have signed the Framework Convention for the Protection of the Marine Environment of the Caspian Sea.
The treaty requires the five countries to prevent and reduce pollution, restore the environment, use resources in a sustainable manner and cooperate more on protecting the environment.
The Islamic state has made extensive efforts to prevent pollution in the sea. Iran also lays emphasis on strengthening of cooperation between littoral states.

Conversion process at the Isfahan Nuclear Plant 'is done in complete isolation.

Head of Iran’s Uranium Conversion Facility in Isfahan has said the plant poses no threat to the environment.
Hamid Reza Mohajerani told reporters in the northwestern city of Hamedan that the conversion process at the plant ’is done in complete isolation and the facility undergoes daily tests based on International Atomic Energy Agency standards’, Fars reported Sunday.
“The facility was built to feed Bushehr nuclear power plant,“ Mohajerani said, referring to UF6 or uranium hexafluoride, the gas fed into centrifuges and is critical for enrichment, PressTV said. Mohajerani said the plant initially produced UF6 on an experimental basis but that it has since produced the gas on an industrial scale, adding the facility ’has now created enough UF6 to satisfy the needs of the Bushehr nuclear power plant’.