AGP Executive Report
Last update: 9 hours agoEnergy Finance: Pearl Petroleum secured a $500 million bond, attracting 1.7 times more investor demand than the issue size as Dana Gas and Crescent Petroleum pursue development of Iraq’s gas fields. Water Infrastructure: Baghdad and the World Bank discussed financing water and sewage projects, with officials stressing faster delivery after delays on an earlier loan. Oil Production: Drilling has begun at well RT-80 in Basra’s Artawi field for TotalEnergies. Amarah station has also started trial production of 3,000 barrels a day. Oil Sector Accountability: A former oil-products distribution chief was sentenced to eight years over contracts worth $119 million; prosecutors said he took nearly $20 million in commissions. Banking and Trade: The US added secondary-sanctions warnings to listings for two Baghdad banks and several Iraqis. Iran says Iraqi vessels are exempt from Strait of Hormuz restrictions, while Iraq’s oil exports via Turkey have climbed to 500,000 barrels a day. Investment: Iraq is targeting a Chevron deal for West Qurna 2 by year-end and has opened talks with the IMF on a programme. Tourism: The Iraq Museum is scheduled to reopen on December 1 after nearly two years closed, restoring a potential draw for visitors and tourism revenue.
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