Over 300 Companies to Participate in IPCC 2025 in Tehran
A total of 303 domestic and foreign companies are set to participate in the 25th edition of Iran’s International Paint, Resin, Coatings, Composites and Plating Industries Fair (IPCC 2025), according to Iran International Exhibitions Company.
Mohammad-Javad Ghanbari, deputy for exhibition affairs, said on Sunday that 243 Iranian firms and 60 foreign companies have confirmed their presence.
He noted that the event, one of the country’s oldest annual gatherings for the paint and resin industry, will run from December 3 to 6 at Tehran’s permanent fairgrounds. - Tehran Times
02/12/2025
Iran’s Exports to EAEU Up 11% in Apr-Nov: IRICA
Latest data from Iran’s Customs Administration (IRICA) shows the country has boosted its exports to the Eurasian Economic Union (EAEU), just months after Tehran and the bloc began implementing a free trade agreement signed in December 2023.
IRICA figures cited in a Saturday report by the IRIB News showed Iran’s exports to the Russia-led EAEU reached US$1.46 billion in the eight months to November 21, an 11% increase compared with the same period last year. Export volumes rose 10% to 3.888 million metric tons (mt) over the same period.
Shipments to Russia grew 12% in value and 9% in volume, while exports to Belarus jumped by more than half year-on-year in April–November, the data showed.
IRICA figures also indicated that Iran’s imports from EAEU, which includes Russia, Kazakhstan, Kyrgyzstan, Armenia, and Belarus, amounted to 5.5 million mt worth US$3.217 billion in the first eight months of the current Persian year. That represents a 9% decline in volume but a 15% increase in value from a year earlier.
Imports from Russia rose 13% in value year-on-year in April–November, while shipments from Kazakhstan surged 84% over the same period.
Under a free trade agreement that took effect in May, Iran now enjoys tariff-free access for nearly 87% of its exports to EAEU member states. Before the deal, the two sides operated under a preferential trade arrangement signed in Armenia in June 2017.
That comes as Iran also signed an agreement during an EAEU Supreme Council meeting in Saint Petersburg in December last year to become an observer member of the bloc. - Press TV
02/12/2025
Drilling Begins at Iranian Gas Field
The managing director of National Iranian Oil Company announced the start of drilling operations for development wells at the Balal Gas Field, relying on the expertise of Iranian engineers.
According to NIOC, Hamid Bovard said the start of drilling at the Balal field marks a milestone in efforts to expand the country’s gas production capacity and could play an effective role in reducing the energy supply gap. He said entering this phase signals a new period of technical and engineering efforts aimed at strengthening the resilience of the national energy network.
He thanked the oil minister for his support and noted the close cooperation between Pars Oil and Gas Company and the Petropars Group, adding that progress in the Balal field development plan is the result of constructive coordination between the client and the contractor.
Bovard emphasized that the parallel progress of drilling, deck construction and pipeline installation demonstrates the technical and managerial capability of domestic specialists, and said the project is advancing according to schedule. With drilling underway and construction and installation continuing, the Balal field development plan is moving rapidly toward final preparation for gas production.
The Balal field is located about 30 kilometers southeast of the South Pars field, 90 kilometers southwest of Lavan Island, and at a water depth of roughly 70 meters in the Persian Gulf, along the shared maritime border between Iran and Qatar. The field is estimated to hold about 3 trillion cubic feet of gas in place and more than 100 million barrels of proven condensate in place.
In addition, the acting director of the Balal field development project announced the official start of drilling operations for development wells in this shared field, calling it a key step in accelerating the project and ensuring stable gas production in Iran’s energy hub. According to Pars Oil and Gas Company, Ehsan Mohammadi said drilling began after the DCI-1 offshore rig was fully installed at the Balal jacket site. He said the rig relocation was carried out through coordinated planning between the contractor and the client, and preparations — including equipment transfer, deployment of support vessels, drilling services and logistical arrangements — have been completed.
Mohammadi added that with improved weather conditions and the completion of installation and preparation work, the rig is now in its final position and drilling of development wells has officially started. He described the launch of drilling as a major milestone toward utilizing the capabilities of this shared field, adding that this phase will play a decisive role in strengthening the country’s planned stable gas production and accelerating the company’s development goals.
Balal Project Enters Crucial Drilling Phase
Hamidreza Saqafi, CEO of Petropars Group, said that after the successful installation of the jacket in June 2025 and the rapid progress in deck construction — from about 4% in September 2024 to more than 34% in November 2025 — the Balal project has now entered its critical drilling phase. He added that the project has been scheduled so that once drilling is completed and the pipeline is finished, the deck can be installed on the jacket without any delay and production can begin. Saqafi thanked POGC for its strong support as the project’s client, saying this cooperation has significantly accelerated the project’s progress. - Shana
02/12/2025
Libya’s Tourism Future Shines with Buraq Air’s New Fleet of Airbus A320neo Aircraft
Airbus just made a deal with one of Libya’s first private companies. Buraq Air will advance its fleet by including 10 A-320 NEOs. Buraq Air will improve its operational network and provide better service in North Africa and beyond. This is a crucial deal that showcases growth in the travel and tourism potential in Libya. It is a new chapter for the aviation sector in the county. This will also improve the connectivity that Buraq Air provides on a regional and international level. There is also an increase of confidence in the aviation sector in the country.
Buraq Air will start servicing their fleet with older A-320 models and their A-320 NEOs. They will offer the latest technology that will improve fuel efficiency and reduce emissions. The airline will be able to gain a competitive edge in the regional market. The A-320 family is one of the most popular planes because it is fuel-efficient and saves approximately 20% in fuel. It also proves to be a good investment in sustainability.As Buraq Air’s new fleet of A320neo aircraft begins entering service, the airline is expecting to significantly increase its strategic partnership with North African countries and beyond. The aircraft’s range and operational flexibility are major parameters that enable structures to better serve both leisure and corporate travellers.
Additionally, Buraq Air is planning to increase its domestic network to include all the major cities in Libya as well as its trip to Europe, the Middle East, and Sub-Saharan Africa.
Buraq Air’s mission is to advance the level of service in Libya and Air connectivity in the region. North Africa is one of the most sought cultural and tourist destinations in the world. The region is host of the ancient site of Carthage in Tunisia, the Pyramids of Giza in Egypt, and the Medina of Fez in Morocco which attracts millions of travelers each year. Buraq Air is laying its self On the fast growing regional air service market, On the growing Air service market, Buraq Air is and has been complementing its service with both direct and via intercontinental Europe, reliable Air service.
Buraq Air is also strengthening its relationships with Medsky Airways. This offers opportunities for more collaborative joint services and route offerings. The two airlines will be able to harmonize flight rotations to serve more passengers and offer more connections. This is indicative of the growing trend seen among African Airlines where collaborative partnerships are used to provide greater networks and improve operational efficiencies through cost sharing.
Several travel opportunities will be available to Buraq Air customers traveling to the Defunct State of Libya and Medsky Air’s secondary hubs in Egypt, Tunisia and Algeria. The airlines serve popular North African tourist and business destinations.
Growing Libya’s Aviation Sector Despite the Difficulties
Political risk, security concerns, and the absence of investment in infrastructure all created challenges in the aviation sector in Libya over the last decade. Despite challenges, Buraq Air took the first investments in the new fleet of modern aircraft, which signals strong confidence in Libya’s ability to progress and develop its aviation sector. The purchase of ten Airbus A320neo aeroplanes represents a significant investment in the future of aviation in Libya and the future of regional tourism.
Due to the operational efficiency of the A320neo, Buraq Air will now be able to more competitively price its airfares on North Africa routes. For business and leisure travelers, Libya will now be a more affordable and appealing destination. With the Buraq Air modern fleet, Libya will be able to better support the travel tourism industry. With the growing aviation infrastructure, Libya will be able to support better travel services, better travel tourism services, and more eco-friendly travel tourism services.
Environmental Benefits and Sustainability Goals
As international awareness around sustainability increases, Buraq Air finds the added environmental credentials of the A320neo of particular importance. Against the backdrop of travel- lers increasingly wanting to lessen their carbon footprint, the airline industry is being challenged to adopt more environmentally friendly practices. It is then, the A320neo’s considerable fuel burn savings, coupled with a significantly lower carbon footprint, is a preferred option for airlines actively engaging to lessen their environmental footprint. The potential addition of more eco- responsible travel and the growing interest among African travelers in more environmentally responsible travel choices deflate the impact of the A320neo’s fuel burn efficiency.
This investment in the A320neo also enhances the reputation of Buraq Air in being the first in the African aviation industry to practice the adoption of fuel efficient aircraft as a carbon mitigation strategy. With Buraq Air leading the way in the adoption of operational eco- responsible practices, more African countries, and airlines, focused on the reduction of their carbon emissions, will likely follow the example of Buraq Air in the adoption of operational eco- responsible practices, more African countries, and airlines, focused on the reduction of their carbon emissions, will likely follow the example of Buraq Air in the adoption of fuel efficient aircraft. The aviation industry will then migrate to more sustainable practices.
Strengthening Libya’s Position as a Tourism Gateway
The modernisation of Buraq Air’s fleet is of great importance to Libya’s potential as a tourism North African gateway. Libya has a plethora of beautiful sceneries and cultural landmarks such as the Roman ruins of Sabratha and the Leptis Magna and the Medina of Tripoli. These cultural assets and natural beauty have the potential to attract a great deal of tourists every year. Buraq Air’s efforts to improve travel and connectivity support the greater Libya tourism sector goal.
As Libya recovers and rebuilds, the improvement of the air travel and tourism will become important for attracting tourists from different parts of the world. The arrival of new planes and the improvement of the regional partnerships will not only augment the travel connectivity, but also help in the diversification of Libya’s economy. Libya has the potential to become a travel tourism center and the pivot for tourists and clients to North Africa with the right investment in tourism travel accessibility.
An African Aviation Perspective: What Buraq Air Means for the Market
Considering the investment on new aircraft and the partnership with Medsky Airways, Buraq Air is not only seeing opportunities but is also looking ahead to the challenges that come with African aviation. Not only is the company seeking to modernize its fleet, but also its network and is therefore opening new routes which is a positive example for the rest of Africa which needs to become operationally efficient, and provide better experiences.
Conclusion
Buraq Air is a positive example for mobility experts in the sub-Saharan Africa region. The collaboration and investment that Buraq Air showcases provide an example of the positive results that can come from strategic planning, collaboration, and investment on the Aviation sector as a whole. The African aviation on the continent can only get better from modern partnerships, a better connected aviation network, and investment on the tourism sector. More lease Buraq Air and Medsky Air partnerships can incur positive results for the African tourism on a whole.
02/12/2025
Iraq’s Oil Exports for October Announced
Iraq's Ministry of Oil has announced finalised oil export volumes for October.
Total exports of crude oil: 110,923,047 barrels.
Exports from the oil fields in central and southern Iraq amounted to 104,816,106 barrels.
Exports from the Kurdistan Region via the Turkish port of Ceyhan amounted to 5,834,864 barrels.
Exports to Jordan amounted to 272,077 barrels.
Average daily crude oil exports: approximately 3.578 million barrels per day.
The total value of oil exported was US$7,030,689,000.
This implies an average price per barrel of approximately US$63.38.
02/12/2025