Iraqi Weekly Business Report.

[Luigi1]

Here's some articles of Dinarian interests...

Direct from The SANDBOX Report.

Iraq’s Financial Revenues Surpass $55.22 Billion In 7 Months.

Iraqi Weekly Business Report.

 

 

FROM IRAQI SOURCES:   Iraq’s Financial Revenues Surpass $55.22 Billion In 7 Months.

ARTICLE:  The Iraqi Ministry of Finance revealed on Tuesday that Iraq’s financial revenues between January & July 2025 surpassed 72.35 trillion Iraqi Dinars ($55.22 billion).

 

According to figures released by the Finance Ministry, revenues generated from oil exports increased by 90 percent over the previous month, Shafaq News reported.

 

Oil export income totaled roughly 64.96 trillion Iraqi Dinars ($49.57 billion), while non-oil revenues were 7.75 trillion Iraqi Dinars ($5.91 billion).

 

The total expenditures for the same time were 64.27 trillion Iraqi dinars ($49.06 billion).

 

Iraq’s economy is highly dependent on oil exports, making it vulnerable to fluctuations in the commodity’s price on a worldwide scale.  For instance, the 2024 budget is based on an oil price of $70 per barrel, which is lower than previous projections and takes into account the continuing instability of the oil market.

 

Iraq Completes Over 50 New Oil Well Projects In Q3 2025.

ARTICLE:  Iraq completed 53 oil well projects in the 3rd quarter of 2025, according to the state-owned Drilling Company.

 

The work covered 15 newly drilled wells & the rehabilitation of 38 others, carried out for both national extraction firms & int'l companies operating in the country.

 

Director General Hassan Mohammed Hassan stated that the company is expanding its technical capacity by adopting modern technologies & working with global partners, which is considered “a cornerstone of Iraq’s oil sector.”

 

New Property Development Regs To Boost Iraqi Housing Sector.

ARTICLE:  The Board of Directors of the Industrial Cities Authority, chaired by Minister of Industry and Minerals Prof. Eng. Khaled Battal Al-Najm, has approved new regulations for real estate developers under its investment model.

 

These regulations are described as the 1st of their kind in Iraq, establishing what they describe as clear standards & guidelines to support the housing sector.  They aim to provide serviced residential plots with full infrastructure at affordable prices, ensuring inclusivity across all segments of society.

 

The framework will also set pathways for converting state-owned land & land with usufruct rights into residential plots, aligned with int'l specifications.

 

BP Signs Contract To Develop Kirkuk Oilfields & Gas Facilities.

ARTICLE:  Oil Minister Hayan Abdul Ghani has overseen the activation of a major development contract for four Kirkuk oilfields & the rehabilitation of gas facilities.  The agreement was signed between North Oil Company (NOC), North Gas Company (NGC) & BP.

 

The contract covers the Kirkuk (Baba and Avana domes), Jambur, Bai Hassan & Khabbaz fields, alongside upgrades to North Gas Company installations. Initial production has been set at 328,000 barrels per day, with further increases expected through phased development.

 

BP’s Iraq Country Manager, Zaid Elyaseri, described the activation as a key step in strengthening cooperation with the Iraqi companies to enhance oil and gas production.  North Oil Company Director Amer Khalil and North Gas Company Director Ahmed Abdul Majid both underlined the economic & industrial benefits of the project.

 

Minister Abdul Ghani highlighted the project’s role in boosting crude output, increasing associated gas utilisation, supplying power generation plants & creating jobs in Kirkuk & neighbouring provinces.

 

Iraq Plans To Raise Oil Output To 5.5 Million Barrels Per Day.

ARTICLE:  Baghdad (IraqiNews.com) – Iraqi Minister of Oil Hayan Abdul-Ghani revealed on Wednesday that Iraq plans to increase its oil output from 4.4 million barrels per day to 5.5 million barrels per day by the end of 2025.

 

Abdul-Ghani told Rudaw News that the ministry is expanding well drilling and rehabilitation operations, adding surface facilities & pipelines & boosting water injection to maintain reservoir pressures.

 

28 American corporations presently work directly with the ministry, including KBR, Honeywell, Halliburton, Schlumberger, Baker Hughes, Weatherford & John Wood Group, as well as service providers & subcontractors, according to Abdul-Ghani.

 

Abdul Ghani also revealed that discussions with US-based Chevron regarding exploration areas in Nasiriyah and Salah al-Din provinces are still underway.

 

Iraq also concluded major deals with British Petroleum (BP) to produce 1.8 million barrels per day from the Rumaila oilfield & to develop four key oil fields in Kirkuk, with a total capacity of around 450,000 barrels per day.

[Luigi1]

Here's the Goat's two cents worth...oil & gas law...

 

 

Mnt Goat:   Oil & Gas law.

Article:  “AL-SUDANI POINTS TO A HISTORIC AGREEMENT WITH THE KURDISTAN REGION: WE WAITED 18 YEARS FOR IT.”  

Quote:   "We reached a historic agreement under which the federal Ministry of Oil will receive crude oil produced from fields located in the Kurdistan Region & export it via the Iraq-Turkey pipeline.”  

Can you say Oil & Gas Law coming.