Turkey plans to import more Iranian gas

Iran will increase gas exports to Turkey, Iraq, Armenia and Azerbaijan. (AFP/File)
Updated 25 March 2019
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Turkey plans to import more Iranian gas

  • The announcement was made by the head of Iran’s National Gas Company
  • Turkey is among a number of other countries who will increase imports of Iranian gas

DUBAI: Turkey plans to increase imports of Iran’s natural gas, a senior Iranian official told the country’s state news agency IRNA on Monday.
“Turkey has requested to purchase more Iranian natural gas from Iran,” the head of Iran’s National Gas Company (IGC), Hassan Montazer Torbati, told IRNA.
“Based on previous agreements, Iran is currently increasing gas exports to a number of countries including Turkey, Iraq, Armenia and Azerbaijan,” he said.

The United States pulled out of a 2015 nuclear deal between Iran and six major powers last year and has reimposed sanctions that were lifted under the pact. Washington granted waivers to Turkey and some other countries to import Iranian oil.


Nissan to cut global production by 15 percent: Nikkei

Updated 1 min 33 sec ago
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Nissan to cut global production by 15 percent: Nikkei

Nissan Motor Co. Ltd. will cut global production by about 15 percent for the current fiscal year ending March 2020, as it shifts away from the aggressive expansion campaign promoted by former Chairman Carlos Ghosn, the Nikkei newspaper reported on Friday.
That would be the steepest production cut in more than a decade by the Japanese automaker, as it battles weak sales in overseas markets including the United States where it plans to scale back sales operations, the Nikkei reported https://s.nikkei.com/2Iu7DO1.
Nissan aims to produce about 4.6 million units in fiscal 2019, the Nikkei said, citing plans being communicated to the automaker’s suppliers. The move is likely to impact earnings and could cast a pall over Nissan’s alliance with French automaker Renault SA, the Nikkei reported, without elaborating.
Earlier this year, Nissan, which has been battling falling sales, lowered its operating profit forecast for the current fiscal year to 450 billion yen ($4 billion), 22 percent lower than a year earlier. It would be Nissan’s lowest profit since 2013.
Nissan was not immediately available for comment when contacted by Reuters.
Shares in Nissan, mired in a financial misconduct scandal involving Ghosn and the company itself, were trading down 1.2 percent early on Friday, versus a 0.6 percent rise in the broader market.