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 […]
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 […]
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 […]
By John Lee. India's Economic Times reports that Iraq has doubled the import duty on rice to 40 percent. An official from the All India Rice Exporters' Association (AIREA) told the news agency that the sudden increase in import duty by Iraq has come as a major blow and it is bound to impact exports […]
Special envoy of the Government of India, Ambassador Suresh K Reddy visited the KRG Department of Foreign Relations to discuss latest developments and the opening of India’s Consulate General in Kurdistan. Ambassador Reddy appreciated the continued support of the DFR for the Indian mission in Iraq and pledged to continue working with the Kurdistan Region […]
By John Lee. The State Level Bankers Committee (SLBC) in the Indian state of Kerala has reportedly agreed to the state government’s request to provide benefits to around 500 nurses who have returned from Iraq and Libya. According to a report from The Hindu, the benefits will be in the form of one-time settlements and […]
By John Lee. Crompton Greaves Ltd (CG), part of the Indian company Avantha Group, has announced a $25-million new contract win for the design, construction and delivery of 16 mobile electrical substations. The order was placed by the General Directorate for Transmission, Upper Euphrates Region, Ministry of Electricity in Iraq. The key deliverables are engineering […]
From CNN. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Indian Shiites volunteer to go to Iraq to protect their shrines from ISIS. CNN's Sumnima Udas reports.
By John Lee. Pressure is mounting in India to help repatriate 58 labourers from Gujarat who have been reportedly held hostage in Iraq by their employer. According to a report from Outlook India, the matter came to light when seven of the labourers managed to return from Iraq, and alleged that recruitment agents lured them […]
By John Lee. India's Hindustan Petroleum (HPCL) aims to increase crude imports from Iraq by 8 percent to about 65,000 bpd in the year to the end of March 2015, as it takes up better terms offered by Baghdad. The company's director of refineries, B. K. Namdeo, told Reuters that Iraq is offering 60 days' […]
By John Lee. India's Desh Bhagat University has signed a memorandum of understanding (MOU) with Iraq. While welcoming the Iraqi delegation, chancellor of the university Zora Singh (pictured) said that the aim of this educational exchange programme was to provide opportunities to the students and faculty of both countries to interact with each other on […]
By John Lee. The head of refineries at Hindustan Petroleum (HPCL) has told Reuters that Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014. B.K. Namdeo added: "Iraq is very positive. They are willing to raise credit period to 60 days and waive […]
