Topic
iraq
Trade Uttarakhand Exports First Frozen French Fries Consignment to Iraq via APEDA
The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the first export of 24 metric tonnes of frozen french fries from Uttarakhand to Iraq. The consignment, shipped by Virun Global Trade Pvt. Ltd. from Kashipur, marks a milestone for value-added agricultural exports from the landlocked state. APEDA Chairman Abhishek Dev noted that logistics costs affect competitiveness and that APEDA is working with the Uttarakhand government on transport assistance under the State Agri-Export Policy.
Commodities US firms sign $60 billion Iraq deals to expand oil exports beyond Strait of Hormuz
US companies signed roughly $60 billion in agreements with the Iraqi government on Friday, including deals to develop alternative oil export routes beyond the Strait of Hormuz. The agreements come amid the US-Iran war that has disrupted Hormuz shipments and caused oil price volatility. Chevron signed three agreements focused on boosting production and building a new pipeline. Goldman Sachs estimated pipelines could carry 60% of current Hormuz oil by 2028.
Commodities MRPL becomes first Indian state refiner to charter Iraqi crude cargo since Hormuz blockade
Mangalore Refinery and Petrochemicals Ltd (MRPL) has chartered the Aframax tanker Jasmin Joy to load crude oil from Iraq's Basrah oil terminal on July 19-20, becoming the first Indian state-owned refiner to secure a west-of-Hormuz cargo since the Strait of Hormuz partially reopened after disruptions from the Israel-Iran conflict. The move highlights ongoing shipping challenges for Indian state refiners. MRPL operates a 300,000 barrel-per-day refinery in Karnataka.
Logistics PetroChina, Indian Oil Fail to Secure Tankers to Load Iraqi Crude Amid Soaring Rates
PetroChina and Indian Oil failed to secure very large crude carriers to load Iraqi Basrah crude in late June, as freight rates nearly triple pre-war levels and transit through the Strait of Hormuz remains uncertain. A PetroChina official cited high costs and lack of guarantee to exit the strait, while IOC issued force majeure on its cargo.
Logistics MSC Boxship Damaged in Gulf Explosion Near Iraq
An MSC containership, MSC Sariska V, was damaged by an explosion near Iraq's Umm Qasr port. The incident, involving a possible missile strike, highlights security risks in the Gulf.