AGP Executive Report
Last update: 8 hours agoOil Revenues: Iraq is seeking to reduce discounts for crude buyers to lift income, even as shipping through the Strait of Hormuz remains costly. Public Finance: Baghdad has asked the IMF for a financing programme to cushion the war’s economic impact; Iraq estimates the conflict has cost it $60 billion, largely through lost oil exports. Production: A BP-linked consortium is taking over four Kirkuk oilfields, with a target of 450,000 barrels per day; construction is also advancing at an Iraqi refinery. Trade & Transport: Iraq’s new OIC initiative proposes linking member states’ energy grids, railways, transport and digital payment systems. Iraq has also resumed commercial shipping in the Gulf after more than 50 years. Manufacturing & Markets: China’s FAW shipped 1,600 Hongqi vehicles to Iraq as it expands in the market. The dinar’s 15% devaluation is raising costs for consumers in a country that imports much of its food, medicine and consumer goods. Food Supply: Iraq’s Integrity Commission says it uncovered a grain-silo fraud scheme that risked more than $8.7 million in public funds.
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