AGP Executive Report
Last update: 7 hours agoCurrency Shock: Baghdad’s markets remained nearly deserted after Iraq raised the official dollar rate from 1,320 to 1,520 dinars. Traders report heavy losses and uncertainty over prices, while reports of counterfeit 25,000-dinar notes have added to cash-market concerns. Oil and Gas: BP has taken over operations at Kirkuk’s four main oilfields, with a target of 450,000 barrels a day and plans to capture 500 million cubic feet of gas daily. Basrah crude prices edged higher even as global benchmarks fell. Oil Payments: SOMO has begun settling outstanding payments to Gulf Keystone with an additional oil cargo, a step the company says will support cash flow and Shaikan field development. Iraq’s oil revenues had fallen 53% through July. Digital Infrastructure: Iraq plans to open its first satellite ground station in Baghdad on October 18, offering government bodies and businesses a domestic communications gateway.
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