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Basra Sky Completes Historic Export of VGO from Iraq



Basra, Iraq–(Newsfile Corp. – February 7, 2023) –


The vessel that Basra Sky chartered was called MT Dania and was loaded with 6000 tons of VGO (vacuum gas oil) at Khor al Zubair port, which is directly connected to the Basra Sky facility. After cargo arrived at Al Hamriya Port, they were stored in the Basra Sky Storage facility in Hamriya Free Zone.

Maziar stated that this VGO shipment marked the introduction of a new product to the UAE market, adding that the new supply flow from Iraq to Gulf countries would make Basra Sky’s product unique. The company has ambitious plans to increase exports up to 25,000 tons by Q2 2023 and to establish a prominent position in the petroleum market.

India is also a target market, with Dubai serving as a hub for petroleum trading and a prime location to engage with international market.


Basra Sky has achieved a historic feat, and it is expected that this accomplishment will pave the way for further success in Iraq’s oil industry. Basra Sky is well-positioned to take the lead in global energy exports thanks to its high standards, state-of-the-art infrastructure, and enthusiastic workforce. 

In addition, other countries in the region have expressed interest in acquiring these same raw materials. This could open up another potential channel of international trade for Basra Sky. With well-established relationships with customers around the world, Basra Sky could soon become one of the most prominent exporter of VGO Iraq. Basra Sky may keep setting the bar high in the Iraqi petroleum market and beyond if it works hard, innovates, and has ambition.

Website URL –

Contact Information:

Contact Person Name: Maziar Rajabi


Company: Basra Sky Oil & Gas Service

E-mail: [email protected]

Address: Khor al Zubair Free Zone, Basra , IRAQ


To view the source version of this press release, please visit


Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.


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Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet




Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.


The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.


The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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