AGP Executive Report
Last update: 8 hours agoIraq–US Energy Deals: Iraqi PM Ali al-Zaidi wrapped up a five-day Washington visit after signing 48 agreements with US firms, including oil and power cooperation with ExxonMobil, KBR, GE Vernova, Shell and Halliburton, plus a Mediterranean Energy Corridor plan for cross-border crude pipelines (initial capacity cited at 2 million bpd). Pipeline Diversification: Iraq is also studying a new Basra–Kirkuk line extending to Türkiye’s Ceyhan and possibly Syria’s Baniyas to cut reliance on the Strait of Hormuz. Iraq–Syria Pipeline Revival: Syria and Iraq signed MoUs in Washington to rehabilitate the Haditha–Baniyas corridor, backed by a consortium including Chevron and Qatar’s UCC, aiming to restore an export outlet beyond the Gulf. Kirkuk Output Moves: ConocoPhillips agreed terms to buy a 42% stake in BP’s Kirkuk venture, supporting redevelopment of major fields in northern Iraq. Shipping Disruption: US data shows Iraq had zero crude exports to the US for a third straight week, while MSC reported a projectile strike at Umm Qasr port with crew safe. Regional Shock: With US-Iran strikes escalating and Kurdistan hit by drones, gas prices in Iraq’s Kurdistan reportedly doubled after production disruptions at Khor Mor. Trade Note: Türkiye’s ice cream exports hit $23.5m in the first four months of 2026, with Iraq among key destinations.
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