AGP Executive Report
Last update: 7 hours agoOil Shock: Iraq says the US–Iran conflict has cost it about $60 billion, as disruption to Hormuz slashed oil production and exports. September exports recovered to about 2.6 million barrels a day, but oil still provides roughly 90% of state revenue. Oil Development: Drilling has started on the Shams 4 well in Najaf’s Al-Qarnain block, operated by China’s ZhenHua Oil. In Kirkuk, operations are transferring to a BP-led consortium, which aims to raise output to 450,000 barrels a day. Infrastructure and Energy: Construction is advancing at an Iraqi oil refinery, while Iraq and Saudi Arabia’s ACWA Power are discussing doubling the Najaf solar project to 2,000 megawatts. Agriculture: A 200-year-old underground irrigation system in Kirkuk has been added to an international heritage register, recognizing water infrastructure that still irrigates local farmland.
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