AGP Executive Report
Last update: 8 hours agoOil-sector merger: Gulf Keystone and ShaMaran agreed to a $601 million all-share deal, creating a Kurdistan-focused producer with about 53,000 barrels per day of working-interest output and 323 million barrels in reserves. Completion is expected in mid-2027. Exports: Iraq’s crude shipments to China jumped 248% from August to September, reaching about 1.18 million barrels per day, though they remained 19% below a year earlier. Iraq’s oil minister said exports exceeded 3.4 million barrels per day so far this month. Investment and infrastructure: Iraq is seeking investors for nine 15-year power concessions, while BP-linked operators are targeting 450,000 barrels per day from transferred Kirkuk fields. Construction is also progressing on an oil refinery. Economic pressure: Baghdad estimates the regional conflict has cost Iraq $60 billion, largely through disrupted oil exports, and has requested an IMF financing program.
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