Iraq exports 9 shipments of gas condensates, 21 of gas liquids

A worker walks at Rumaila oil field in Basra, Iraq, November 28, 2017. Picture taken November 28, 2017. (Reuters)
Updated 10 April 2018
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Iraq exports 9 shipments of gas condensates, 21 of gas liquids

  • Iraq started exports of natural gas extracted alongside crude oil at its fields in the southern region in 2016
  • The gas is processed and exported by the Basrah Gas Company, a joint venture between state-owned South Gas Company, Shell and Mitsubishi
BAGHDAD: Iraq exported nine shipments of natural gas condensates and 21 shipments of gas liquids in the first quarter of the year, the oil ministry reported on Tuesday.

Iraq started exports of natural gas extracted alongside crude oil at its fields in the southern region in 2016.

The gas is processed and exported by the Basrah Gas Company, a joint venture between state-owned South Gas Company, Shell and Mitsubishi.

Basrah Gas is helping Iraq reduce flaring gas associated with oil. Iraq plans to stop flaring by 2021 and is building facilities to process gas captured at its fields into fuel for local consumption or export. Gas flaring costs nearly $2.5 billion in lost revenue for the government and would be sufficient to meet most gas‐based power generation needs, according to the World Bank.


Uber agrees to pay VAT in Egypt

Updated 53 min 27 sec ago
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Uber agrees to pay VAT in Egypt

  • Egypt introduced a law last May regulating ride-hailing apps Uber and Careem
  • Uber has said that Egypt is its largest market in the Middle East
CAIRO: Uber has agreed to pay value-added tax on its services in Egypt, Egyptian officials said on Monday, a move that may help resolve a long-simmering feud with traditional taxi drivers.
The agreement would also apply to other ride-hailing companies, the head of the Egyptian Tax Authority, Abdel Azeem Hussein, said. Egypt’s value-added tax (VAT) rate is 14 percent.
“Reaching an agreement and determining the tax treatment that will be applied to the company Uber and other companies operating in the same area will enhance confidence and cooperation between the authority and the tax community,” state news agency MENA quoted Hussein as saying.
Uber Egypt was not immediately available for comment.
Egypt introduced a law last May regulating ride-hailing apps Uber and Careem, after Egyptian taxi drivers filed a lawsuit arguing that the two companies were illegally using private cars as taxis and were registered as a call center and an Internet company, respectively.
An Egyptian court suspended Uber and Careem’s services in March last year after the taxi drivers’ suit but another court stayed the suspension ruling in April, allowing the companies to operate while the case was appealed to a higher court. A verdict is expected on Saturday.
Careem could not immediately be reached for comment on whether it will pay the VAT.
Uber riders and drivers in Egypt have said they faced various technical difficulties with the Uber app in recent weeks, which two security sources said was linked to data-sharing disputes with Egyptian authorities.
Uber has faced regulatory and legal setbacks around the world amid opposition from traditional taxi services. It has been forced to quit several countries, including Denmark and Hungary.
Uber has said that Egypt is its largest market in the Middle East, with 157,000 drivers in 2017 and 4 million users since its launch there in 2014.