Turkiye: Kirkuk-Baniyas Pipeline Poses No Threat
2026-11-06 Shafaq News- Ankara The possible reopening of the Kirkuk-Baniyas oil pipeline between Iraq and Syria would not pose a threat to Turkiye's economy, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said on Friday, adding that Ankara and Damascus could conduct joint offshore exploration in the future.
In remarks to reporters, Bayraktar said Syria needed substantial investment, expressing hope that cooperation in the energy and mining sectors could contribute to peace, prosperity, and stability in Syria and the wider region.
Bayraktar also said offshore exploration operations in Syria could be considered in the future, depending on their economic viability and geological conditions.
On July 17, Iraq and Syria signed a memorandum of understanding, under US sponsorship, to reopen the Kirkuk-Baniyas pipeline. The agreement aims to resume the transportation of Iraqi oil through Syrian territory to Mediterranean ports, diversifying Iraq's export routes and strengthening economic cooperation between the two countries.
https://shafaq.com/en/Economy/Turkiye-Kirkuk-Baniyas-pipeline-poses-no-threat
Basrah Crude Loses Over 23% On Week
2026-11-07 Shafaq News- Basrah Iraq’s Basrah crude ended the week down more than 23%, despite gains in the final trading session and higher benchmark crude futures.
Basrah Heavy crude climbed by $2.59, or 4.88%, in the final session to settle at $55.66 per barrel, but recorded a weekly loss of $18.46, or 24.91%, from $74.12 at the start of the week.
Basrah Medium crude rose by $2.59, or 4.54%, to close at $59.66 per barrel, posting a weekly loss of $18.44, or 23.61%, from its opening level of $78.10.
Brent crude futures settled at $97.48 per barrel, down 81 cents, or 0.82%, while US West Texas Intermediate crude (WTI) declined 16 cents, or 0.18%, to finish at $90.36 per barrel.
https://shafaq.com/en/Economy/Basrah-crude-loses-over-23-on-week
USD/IQD Edges Up In Baghdad And Erbil Markets
2026-11-07 Shafaq News- Baghdad/ Erbil The US dollar opened slightly higher in Iraq on Saturday, trading around 168,500 dinars per $100.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 168,300 dinars per 100 dollars, up from Thursday's 168,200 dinars.
In the Iraqi capital, exchange shops sold the dollar at 168,750 dinars and bought it at 167,750 dinars, while in Erbil, selling prices stood at 168,300 dinars and buying prices at 168,200 dinars.
https://shafaq.com/en/Economy/USD-IQD-edges-up-in-Baghdad-and-Erbil-markets
Iraq’s Digital Payments Reach $16.7B In 2026
2026-11-07 Shafaq News- Baghdad Electronic payments in Iraq totaled 25.4 trillion Iraqi dinars ($16.71 billion) in the first seven months of 2026, according to the Eco Iraq Observatory, as digital payment services continue to expand across the country.
The Observatory said the payments were made through more than 10.8 million electronic transactions.
In 2025, financial transactions totaled 32.8 trillion dinars ($21.58 billion) across 14.6 million operations, including 20 trillion dinars ($13.16 billion) in government revenue collections and bill payments.
Iraq has 37.6 million electronic payment cards and 197,000 point-of-sale (POS) terminals, along with 3,015 automated teller machines (ATMs) and 15,000 cash withdrawal points (POCs), the Observatory said.
https://shafaq.com/en/Economy/Iraq-s-digital-payments-reach-16-7B-in-2026
Gold Prices Fall In Baghdad And Erbil
2026-11-07 Shafaq News- Baghdad/ Erbil On Saturday, gold prices hovered around 950,000 IQD per mithqal in Baghdad and Erbil markets, according to a Shafaq News market survey.
At Baghdad's Al-Nahr Street wholesale market, 21-carat Gulf, Turkish and European gold sold for 960,000 IQD per mithqal (equivalent to five grams) and was bought at 956,000 IQD, down from Thursday's 970,000 IQD.
Iraqi 21-carat gold sold for 930,000 IQD per mithqal and was bought at 926,000 IQD.
At jewelry stores, 21-carat Gulf gold sold for between 960,000 and 970,000 IQD per mithqal, while Iraqi gold sold for between 930,000 and 940,000 IQD.
In Erbil, prices also fell. 22-carat gold sold for about 1.019 million IQD per mithqal, 21-carat for 974,000 IQD and 18-carat for 834,000 IQD. https://shafaq.com/en/Economy/Gold-prices-fall-in-Baghdad-and-Erbil-9-7
US Backs “Strong” Kurdistan Region, Urges Swift Cooperation
2026-11-07 Shafaq News- Washington The United States supports “a strong and resilient Iraqi Kurdistan Region,” which remains “a foundational pillar of the broader US-Iraq relationship,” a State Department spokesperson told Shafaq News on Saturday.
He added that Washington remains committed to its partners across Iraq who are working to build “a truly sovereign, stable, and prosperous country,” urging all parties to work quickly and constructively to strengthen the Kurdistan Region’s institutions.
The Kurdistan parliament resumed work on Wednesday for the first time since the October 2024 elections, electing a new presidium in a session boycotted by the PUK and the New Generation Movement. The dispute with the Kurdistan Democratic Party (KDP) has also led the PUK to withdraw from the Kurdistan Regional Government (KRG).
https://shafaq.com/en/Kurdistan/US-backs-strong-Kurdistan-Region-urges-swift-cooperation
Source: Kurdistan Share Dispute Delays Iraqi Budget Vote
2026-11-07 Shafaq News- Baghdad Disputes over provisions on the Kurdistan Region's share of Iraq's 2027 federal budget remain unresolved, a government source told Shafaq News on Saturday, after the Council of Ministers did not meet to vote on the bill.
Prime Minister Ali Al-Zaidi's office confirmed to Shafaq News that no cabinet session was held on Saturday.
The Kurdistan Regional Government (KRG) wants its share set at 14.14%, its proportion of Iraq's population in the latest census, and has rejected the 12.67% allocated under the current federal framework. Last month, a member of parliament's Finance Committee estimated Erbil's allocation in the draft at about 6%.
The bill has been stalled since the Finance Ministry sent it on Sept. 27 to the Ministerial Council for the Economy, which approved it and referred it to the cabinet. In early October, parliament's Finance Committee decided to summon Finance Minister Falih Al-Sari over the budget's priorities and its timeline for reaching parliament, saying it had not yet seen the draft.
Iraq has had no budget law for 2026, and the 2025 spending tables were never approved. Under the Financial Management Law, monthly government spending is therefore capped at one-twelfth of the previous year's outlays.
Read more: Kurdistan presses Baghdad to secure 2027 budget share
https://shafaq.com/en/Iraq/Source-Kurdistan-share-dispute-delays-Iraqi-budget-vote