For the second time in two months, residents of Iraq’s oil capital are suffering severe power outages because the government cannot pay its bills. Turkey’s Karkey Company, a subsidiary of Karadeniz Holdings, shut down three floating power stations Tuesday, which had been contributing about 370 megawatts to Basra’s electrical grid – more than 10 percent […] One of the electricity barges owned by Karadeniz Holdings, which is supplying power to Basra. (Source: Karadeniz Holdings) For the second time in two months, residents of Iraq’s oil capital are suffering severe power outages because the government cannot pay its bills.Turkey’s Karkey Company, a subsidiary of Karadeniz Holdings, shut down three floating power stations Tuesday, which had been contributing about 370 megawatts to Basra’s electrical grid – more than 10 percent of the province’s supply – according to Electricity Ministry Spokesman Musab al-Mudariss. The company is owed $85 million, he said.”There … […]