AGP Executive Report
Last update: 8 hours agoOil Investment: Iraq’s Oil Ministry reviewed Block 9, Siba gas field and Fao exploration plans with United Energy Group, stressing delivery timelines. DNO, buoyed by resumed Kurdistan production and higher prices, plans more drilling in 2027 and may add a third rig. Public Finances: Baghdad denied reports of a planned $10.6 billion foreign borrowing package, saying stronger oil exports reduce the need. Separately, the IMF is preparing a lending program as the Iran conflict threatens Iraq’s economy; the Central Bank says the exchange-rate gap has narrowed to 9% and no new currency is being printed. Trade Routes: Iraq says Development Road designs are nearing completion, with construction targeted to start in 2027, but a KRG deputy says the route unfairly bypasses Kurdish areas and wants a railway through Kirkuk and Erbil. Baghdad and Damascus also discussed reviving the Kirkuk–Baniyas oil pipeline and expanding economic ties. Governance: Two politicians and an oil official received prison terms in a corruption case, including a six-year sentence and $20 million fine for MP Muthanna al-Samarrai.
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