AGP Executive Report
Last update: 4 hours agoOil Exports: Iraq is seeking routes beyond the Strait of Hormuz, discussing oil exports through Egypt and Jordan alongside storage, refinery and petrochemical projects. Exports through Turkey’s Ceyhan port have reached 500,000 barrels a day. An adviser warns a renewed Hormuz closure could cut oil revenues by as much as 80%. IMF Support: The Fund is preparing programme talks after Baghdad requested financial and policy help. It cited Iraq’s reliance on oil, tight public finances, a narrow tax base and a weak banking system, and expects a sharp contraction this year before recovery in 2027. Gas Investment: Iraq signed an agreement with US firm Morgan Hughes Energy to capture and use associated gas now being flared, supporting power generation and reducing reliance on the national grid. New Market Entry: Uber is in talks with Iraq’s transport minister about launching app-based services, citing improved security as a factor in its interest.
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