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Iraq Starts Expansion of Shinafiyah Refinery 

An Iraqi flag is seen at an oilfield. (Reuters)
An Iraqi flag is seen at an oilfield. (Reuters)
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Iraq Starts Expansion of Shinafiyah Refinery 

An Iraqi flag is seen at an oilfield. (Reuters)
An Iraqi flag is seen at an oilfield. (Reuters)

Prime Minister Mohammed Shia al-Sudani announced on Saturday the beginning of the Shinafiyah refinery expansion in Al Diwaniyah in southern Iraq. 

During his visit to the province, the PM confirmed the government will to develop the oil sector and complete the projects that meet the needs of the people.  

The Iraqi News Agency cited Sudani as saying: "Designs have been put in place for the expansion of Shinafiyah refinery, which will increase the production capacity of the refinery from 20,000 to 90,000 barrels per day, in addition to a refining unit with a capacity of 70,000 barrels per day."  

He stressed that he directed that production be compatible with environmental requirements.  

The Prime Minister stated that this increase would help in reducing the import of gasoline and gas oil, and the provision of surplus quantities of liquid gas and fuel oil products, which have a significant economic return.  

“The project will also provide up to 3,000 job opportunities, to employ local manpower," he added.  

According to shipping data, Iraq also increased exports to Europe by more than 20 percent in the past five months.  

European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialize.  

Iraq, OPEC's second-largest producer behind Saudi Arabia, has been pumping about 4,652,000 barrels of crude a day this year. It plans to increase oil production to eight million barrels per day (BPD) by the end of 2027. 

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India Imposes Temporary Tariff on Some Steel to Stem Cheap Imports from China 

A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)
A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)
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India Imposes Temporary Tariff on Some Steel to Stem Cheap Imports from China 

A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)
A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)

India, the world's second-biggest producer of crude steel, on Monday imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty, to curb a surge in cheap shipments primarily from China.

A flood of Chinese steel in recent years has pushed some Indian mills to scale down operations and mull job cuts, and India is one of a number of countries to have contemplated action to stem imports to protect local industry.

The Ministry of Finance said in an official order that the duty would be effective for 200 days from Monday, "unless revoked, superseded or amended earlier".

The move is New Delhi's first big trade policy shift since US President Donald Trump imposed a wide range of tariffs on countries in April, kicking off a bitter trade war with China.

Tensions over cheap steel imports into India predate that, with the investigation behind the latest move beginning in December.

India's Steel Minister H. D. Kumaraswamy said in a statement the measure is aimed at protecting domestic steel manufacturers from the adverse impact of a surge in imports, and will ensure fair competition in the market.

"This move will provide critical relief to domestic producers, especially small and medium-scale enterprises, who have faced immense pressure from rising imports," Kumaraswamy said.

New Delhi's tariffs are primarily aimed at China, which was the second-biggest exporter of steel to India behind South Korea in 2024/25.

"The decision is along expected lines and we will now wait and see how this measure supports (the) industry and margins and restricts cheap imports into the country," said a senior executive at a leading Indian steel mill.

"The world is impacted by Chinese imports whether directly or indirectly," said the executive.

India was a net importer of finished steel for a second straight year in 2024/25, with shipments reaching a nine-year high of 9.5 million metric tons, according to provisional government data.

New Delhi's leading steelmakers' body - which counts JSW Steel and Tata Steel among members, alongside the Steel Authority of India and ArcelorMittal Nippon Steel India - has raised concerns over imports and called for curbs.