Tag Archives | india

Fly Baghdad plans European flights, IPO

By John Lee. Fly Baghdad‘s Chief Executive Ali al-Hamdany has told Reuters that the budget airline plans to start flights to Europe and India next year, and is planning a stock market listing in 2020. It will also start flights to Ankara and Beirut in the coming weeks. It currently operates two Boeing 149-seat 737-700 jets […]

Iraq is Iran’s 2nd Biggest Non-Oil Customer

By John Lee. Iran’s Trade Promotion Organization (TPOI) has issued data showing that five countries — China, Iraq, UAE, South Korea and India — accounted for 68.7 percent of Iran’s total non-oil exports in the first five months of the current Iranian fiscal year (March 20-Aug. 22). Its non-oil exports (including gas condensate) fell 5 percent […]

BGR Abandons $246m Iraq Project

By John Lee. India’s BGR Energy Systems has said it has decided to cancel a carryover contract value of $246 million relating to its contract to build a power plant in Nasiriya. The company won the contract for the 500-megawatt (MW) gas turbine plant in 2013. Iraq’s Ministry of Electricity provided a letter of credit […]

India to Open Consulate in Erbil

By John Lee. Indian Ambassador to Iraq, Mr. George Raju yesterday visited the KRG Department of Foreign Relations to discuss the opening of Indian consulate general in Erbil. Ambassador Raju announced the decision of the government of India to open its consulate general in Erbil, capital of Kurdistan Region. He said that India realizes the […]

Pertamina looks to India to Process Iraqi Crude

By John Lee. According to a report from Reuters, Indonesia’s state-owned energy company Pertamina hopes to seal a deal this year with an un-named Indian refiner to process around 1 million barrels of Iraqi crude oil each month. Chief Executive Dwi Soetjipto (pictured) told reporters: “It is better if we purchase the crude and then utilize […]

Iraq Bans Poultry Imports due to Avian Flu

By John Lee. Iraq has banned the importion of frozen and live poultry products from two dozen countries. According to a report from Reuters, Baghdad restricted poultry imports from France last month, following a reported outbreak of H5N1 bird flu. The ban now extends to Bangladesh, Burkina Faso, Bhutan, China, Egypt, Ghana, Hong Kong, India, […]

Indian Refiners in Talks with SOMO

By John Lee. Indian state refiners Indian Oil Corporation and Hindustan Petroleum Corporation are holding talks with Iraq’s State Oil Marketing Organization (SOMO) to buy 4 million barrels of Basra light crude oil for India’s strategic petroleum reserves (SPRs). Bombay Stock Exchange had sought clarification from Hindustan Petroleum following press reports; Hindustan subsequently confirmed the […]

Basra Heavy Trading at Discount

By John Lee. According to a report from Reuters, the new Basra Heavy crude oil grade has been trading at a widening discount. Malaysia’s Petronas reportedly sold 2 million barrels for June loading to Indian refiner Essar Oil at a discount of more than $1 a barrel to its official selling price. bigger than expected […]

India Builds Oil Reserves with Basra Crude

By John Lee. India’s oil ministry has instructed state refiners Indian Oil Corp and Hindustan Petroleum Corp (HPCL) to buy eight million barrels of Basra crude oil for delivery in May and June. The country is looking to build up its strategic petroleum reserve (SPR) at the current low market prices. A source told Reuters […]

India Increases Oil Imports from Iraq

By John Lee. India’s oil imports from Iraq have seen a sharp increase in January, according to Platts, climbing 56 percent to 2.48 million mt. Eklavya Gupte, associate editor, Europe and Africa crude oil, at Platts said: “Indian refiners are importing Iraqi Basrah light crude oil to compensate for the drop in imports from Iran […]

Govt Spends Millions on Medical Treatment Abroad

By Adnan Abu Zeed for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi government spends millions on medical treatment abroad The coordinator of a consulting firm specializing in providing medical treatment in India announced Nov. 15 on his Facebook page that he was coming to Iraq […]