Iraq Economic News and Points To Ponder Monday Morning 11-10-25

Exxonmobil CEO Optimistic About Returning To Iraq: We Need Guarantees

Posted on2025-11-09 by sotaliraq  ExxonMobil CEO Darren Woods expressed optimism about the possibility of ExxonMobil returning to Iraq after the company signed a preliminary agreement to manage, develop and operate the Majnoon oil field in the south of the country.

Woods told Reuters that Exxon needs to ensure the investment is appropriate and to negotiate with the Iraqi government to ensure it is a mutually beneficial agreement, adding that the process is still in its early stages.

He added that oil and gas will play a crucial role for a long time to come, and raised a question about how long they will continue to be used as fuel.

According to Woods, while technological developments may change the use of hydrocarbons in the future, they will continue to be used for other purposes, such as the medical sector.

The CEO of ExxonMobil concluded by saying, “Crude oil and hydrocarbons will play a pivotal role in everyone’s lives for a long time to come.”

On October 8th, the Iraqi government signed a Memorandum of Understanding (HOA) between the Ministry of Oil and the American company ExxonMobil.

Iraq currently produces about four million barrels of oil per day, and aims to exceed six million barrels per day by 2029.

The Majnoon oil field is located 60 kilometers from Basra in southern Iraq, and is one of the largest oil fields in the world, with estimated reserves of about 38 billion barrels.  LINK

The Baghdad And Erbil Stock Exchanges Closed With Stable Dollar Exchange Rates

2025-11-09 by sotaliraq   The exchange rate of the US dollar against the Iraqi dinar remained stable on Sunday in the markets of the capital, Baghdad, and in Erbil, the capital of the Kurdistan Region, as the stock exchange closed.

Our correspondent said that the dollar prices stabilized in the two main exchanges in Al-Kifah and Al-Harithiya in Baghdad, recording 141,550 dinars for 100 dollars, which is the same price that was recorded this morning.

Our correspondent noted that the selling prices in exchange shops in the local markets in Baghdad have stabilized, with the selling price reaching 142,500 dinars for 100 dollars, while the buying price reached 140,500 dinars for 100 dollars.

In Erbil, the dollar also remained stable, with the selling price at 141,250 dinars per 100 dollars and the buying price at 141,100 dinars per 100 dollars.  LINK

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Dollar Prices At The Close Of The Stock Exchange In Iraq

Stock Exchange   The exchange rate of the US dollar against the Iraqi dinar remained stable on Sunday evening in the markets of the capital, Baghdad, and Erbil, as the stock exchange closed.

Baghdad:   Selling price: 142,500 dinars for 100 dollars   Buying price: 140,500 dinars for 100 dollars.

Erbil:    Selling price: 141,250 dinars per 100 dollars   Buying price: 141,100 dinars per 100 dollars.

https://economy-news.net/content.php?id=62128

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