Iraq Economic News and Points To Ponder Wednesday Afternoon 11-5-25
Economic Expert Nabil Al-Marsoumi: A New Chapter Of American Dominance Over Iraqi Oil Has Begun
Baratha News Agency 13920 25-11-05 Economic expert Nabil Al-Marsoumi explained on Wednesday (November 5, 2025) the beginning of a new chapter of American dominance over Iraqi oil.
Al-Marsoumi said in a post, “Kurdistan signed 57 contracts with oil companies, all in accordance with production-sharing contracts. According to reports from the international firm Deloitte, which is tasked with auditing Kurdistan’s oil accounts, the companies actually received 56% of the oil revenues to cover production, transportation, marketing, and foreign companies’ profits, and Kurdistan received only 44% of its oil revenues.”
He pointed out that "this type of investment is what American companies specifically seek, and which Iraq recently approved. Therefore, American companies have begun returning to Iraq to begin a new chapter of American dominance over Iraqi oil."
On November 1, 2025, economist Nabil Al-Marsoumi confirmed that the next Iraqi government will be required to transfer the producing oil fields to investment.
Al-Marsoumi wrote in a post on Facebook: “Any future Iraqi government will be required to transfer all national oil production fields to American companies for investment in the form of production-sharing contracts.”
Observers believe that US President Donald Trump's appointment of a special envoy to Baghdad instead of a traditional ambassador reflects a fundamental shift in Washington's approach to Iraq, as the Iraqi file is no longer managed solely from a diplomatic perspective, but from a pragmatic economic perspective based on oil.
At the Sharm el-Sheikh summit, Trump stated clearly that “Iraqi oil is plentiful, and if they don’t manage it well, they will face problems,” a signal widely understood as a prelude to a new American approach linking political influence to direct oil interests.
The selection of businessman Mark Savaya as special envoy, rather than a career diplomat, reinforced this understanding, as the appointment was seen as a step towards “deal diplomacy” that seeks to transform the relationship with Iraq into direct economic management, run from the White House without going through traditional institutions.
Experts say that through this approach, Washington wants to restore its influence in the Iraqi energy sector, whether through its investment companies or through more controlling political tools, making oil the core of the new relationship between the two countries and not just one of its side issues. https://burathanews.com/arabic/economic/467330
Government Advisor: Iraq Saved $7 Billion By Halting Imports Of Oil Derivatives
Energy Economy News – Baghdad The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed on Wednesday the financial and economic importance of the decision to stop importing oil derivatives.
The government decided yesterday, Tuesday, to stop importing gasoline, gas oil (kerosene), and white oil, because local production of these fuels has reached quantities that exceed local consumption rates.
Saleh said in a press statement that "there are two important effects of the decision to stop importing oil derivatives. The first is the success of the import substitution policy for oil products, which saves more than $7 billion that will be added to the current account of the Iraqi balance of payments."
He added that "the second is an important indication of the success of the policy of diversifying crude oil production, which maximizes the added value in the formation of Iraq’s gross domestic product by a percentage close to 3% and indicates a near future rise with the increase in the number of crude oil refining projects currently approved in southern Iraq and elsewhere, and it means success for the current government program within the scope of oil policy."
On October 25, Prime Minister Mohammed Shia al-Sudani announced that his government had developed a plan to save the state treasury approximately $10 billion by halting imports of gasoline and oil derivatives after achieving self-sufficiency in their production within Iraq. https://economy-news.net/content.php?id=61979
A Slight Decrease In The Exchange Rate In Baghdad... The Banknote Is At 141150
Economy | 05/11/2025 Mawazin News - Baghdad: The exchange rate of the US dollar against the Iraqi dinar witnessed a slight decrease in the capital, Baghdad.
The dollar was trading at 141,150 dinars per 100 dollars in the Al-Kifah and Al-Harithiya exchanges in Baghdad.
The selling price at local currency exchange shops in Baghdad also fell to 142,000 dinars per 100 dollars, while the buying price reached 140,000 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=269734
After Rising For A Period, Gold Prices In Baghdad Have Fallen.
Economy | - 05/11/2025 Mawazin News - Baghdad: Gold prices, both foreign and Iraqi, have declined in local markets in Baghdad.
Wholesale gold prices in Baghdad's Al-Nahr Street market fell this morning, with the selling price of one mithqal (approximately 4.5 grams) of 21-karat Gulf, Turkish, and European gold reaching 788,000 Iraqi dinars, compared to 784,000 dinars for buying, down from 790,000 dinars yesterday, Tuesday.
The price of one mithqal of 21-karat Iraqi gold was 758,000 dinars for selling and 754,000 dinars for buying.
In jewelry shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 790,000 and 800,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 760,000 and 770,000 dinars. https://www.mawazin.net/Details.aspx?jimare=269733
75 Iraqi Companies And Factories Export Their Products Abroad
Local | 05/11/2025 Mawazin News – Baghdad Hamoudi Al-Lami, the Prime Minister’s Advisor for Industry, Development and the Private Sector, confirmed on Wednesday that indicators of industrial recovery in Iraq have begun to appear clearly, noting that 75 Iraqi companies and factories are exporting their products abroad.
Al-Lami stated in a statement to the official news agency, which was followed by (Mawazin News): “Iraqi products are now reaching foreign markets in Arab and European countries,” stressing that this represents “a return of confidence in local products and an expansion of the national production base.”
Al-Lami added that “the latest data from the Ministry of Trade, which is responsible for granting export licenses, indicates that 21 Iraqi food companies have recently obtained official export licenses and have already begun marketing their products to dozens of Arab and European countries, including the Gulf states, Jordan, Turkey, Kuwait, Egypt, and others.”
He continued, “54 national factories have actually begun exporting their products abroad, in a step that reflects the recovery of the national industrial sector after years of stagnation.”
He pointed out that “the Iraqi products that have reached foreign markets include batteries, reinforcing steel, carpets, textile products, and electrical wires and cables,” stressing that this represents “a return of confidence in local products and an expansion of the national production base.”
Al-Lami explained that “the government has taken a package of measures and legal amendments during the past period to facilitate the investment environment.”
Support for the industrial sector included amending a number of Cabinet decisions and issuing new decisions aimed at attracting investors and addressing the obstacles facing local factories. https://www.mawazin.net/Details.aspx?jimare=269763
Iraq Is Preparing To Launch A "Risk Management" System To Enhance Trade Oversight.
Reconstruction And Building Economy News – Baghdad The Customs Authority revealed on Tuesday its steps to modernize and develop the work of ports through comprehensive automation, while preparing to launch the "risk management" phase to enhance control over trade movement.
The Director General of the Authority, Thamer Qasim Dawood, said that “the Authority is close to completing the second phase of the automation project, after achieving an electronic linkage rate that exceeded 90 percent with the agencies and institutions operating in the border centers,” explaining that “these centers include representatives from more than 12 ministries and government agencies, including the Ministries of Health and Agriculture and the Standardization and Quality Control Authority.”
He explained that “the next phase will witness the implementation of the single window system based on the advanced ASYCUDA program, which is used in more than 100 countries around the world,” noting that “the completion of this phase will lead to the transition towards an integrated electronic customs system that contributes to raising revenues, reducing administrative corruption, facilitating trade, as well as enhancing investors’ confidence in the Iraqi customs system.”
Daoud added that "the Authority has begun implementing a system for classifying companies and traders within three main tracks: green, yellow, and red," explaining that "the green track includes compliant companies that do not have violations or data manipulation recorded against them, while the red track refers to companies that engage in smuggling operations or change in the descriptions of goods."
He explained that "this system aims to raise the level of control and improve the customs work environment by sorting dealers according to their degree of commitment, which contributes to speeding up procedures and facilitating the smooth flow of goods."
Daoud pointed out that "the new database being prepared as part of the automation project will provide accurate and up-to-date information about traders and investors, and will enable the early detection of any suspicious activities," adding that "this is what is known as risk management, which depends on exchanging data with relevant parties, and knowing the details and specifications of goods before they arrive at border crossings, which reduces risks and enhances control over commercial operations." https://economy-news.net/content.php?id=61931
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