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Latest Market News

Iraq hit by nationwide power outage

  • : Crude oil, Electricity
  • 26/03/04

Iraq's electricity ministry has reported a nationwide power outage caused by a sudden drop in gas supplies to the Rumaila power plant in Basrah, state news agency INA said at 21:18 local time this evening.

The gas shortfall triggered a "technical malfunction" that caused a voltage collapse at the plant, according to a ministry spokesman. Work is under way to restore power gradually.

The ministry did not say what caused the drop in gas supply and asked media outlets "to refrain from speculation".

Iraq and other countries in the Mideast Gulf have faced Iranian drone and missile attacks since the US-Iran war began on 28 February. The conflict has effectively halted oil exports through the strait of Hormuz, forcing Iraq to start cutting its crude production.


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