Iraq Economic News and Points To Ponder Sunday Morning 9-13-26
The 50 And 100 Dinar Denominations Will Return With The Change Of Currency
Sunday, economic expert Mustafa Hantoush expected that the 50 and 100 dinar denominations would return to circulation if the currency change continued, indicating the possibility of issuing new monetary denominations with stronger security specifications .
Hantoush said, in a televised interview followed by Al Saa'a Network, that "the Central Bank may issue a new currency with advanced security specifications, with the possibility of offering monetary denominations of less than 250 dinars, such as 100 fils".
He added, "The Central Bank may move to issue denominations of 50 and 100 dinars in the next stage", indicating that "returning these denominations may contribute to supporting the currency and strengthening the position of the Central Bank".
He explained that "the Central Bank has not made a final decision on this step, while the government is working to form a committee to study the issue, pending the completion of the procedures related to it within the House of Representatives."
A "Major Shift" In The Relationship Between Baghdad And Washington... The US Chargé d'Affaires: Al-Zaidi's Visit Resulted In Agreements Worth $60 Billion, And Trump Looks Forward To A Fruitful Partnership With Iraq - 9/12/2026
Baghdad - One News - 9/12/2026 The US Chargé d'Affaires in Iraq, Steven Fagin, affirmed that relations between Baghdad and Washington are on the cusp of a new phase of development and transformation, coinciding with the expansion of economic and trade opportunities between the two countries and the move towards building a partnership based on achieving tangible results and common interests.
Fagin said that Prime Minister Ali al-Zaidi’s recent visit to Washington carried, in his words, a mandate from the Iraqi people to build a sovereign, secure and prosperous Iraq, noting that the visit opened new horizons for developing bilateral relations and expanding areas of cooperation between the two countries.
The US chargé d'affaires revealed that Al-Zaidi's visit to Washington resulted in agreements worth $60 billion in vital sectors, a move that, according to him, reflects the expansion of economic and investment cooperation between Iraq and the United States.
He added that US President Donald Trump is looking forward to a fruitful partnership with the Iraqi people based on achieving real and tangible results, stressing that Washington seeks to deepen economic opportunities and advance cooperation in a way that serves the interests of Iraq and the United States.
Fagin noted that relations between Washington and Baghdad are on the verge of a transformation, with expanding trade opportunities between the two countries, stressing that the next phase holds the potential for further achievements and enhanced economic partnership between the two sides.
https://1news-iq.net/تحول-كبير-في-العلاقة-بين-بغداد-وواشن/
Al-Zaidi Oversees The Signing Of A Contract To Develop And Operate The Ajil Oil Field For 25 Years And Increase Its Oil And Gas Production
Baghdad - One News - 9/12/2026 Prime Minister Ali Faleh al-Zaidi oversaw the signing ceremony on Saturday of a contract to develop and operate the Ajil oil field between the North Oil Company and the company “Kipt”, as part of the government’s plans to increase oil and gas production and maximize the benefit from the country’s hydrocarbon resources.
The contract extends for 25 years and aims to gradually increase production rates in the field, particularly gas production, which is scheduled to increase from about 135 million standard cubic feet per day to 300 million standard cubic feet per day.
The contract also includes increasing the production of crude oil from the Ajil field from 30,000 barrels per day to 40,000 barrels per day, in parallel with developing investment operations for the gas produced from the field.
The project comes within the framework of the Ministry of Oil’s direction towards raising oil and gas production rates and making greater use of the resources of Iraqi fields, which enhances energy security and provides additional quantities of gas to support the electricity generation system and reduce the gap between local production and the increasing needs of the energy sector.
The development of the Ajil field is part of Iraq's efforts to expand investment in associated gas and domestic gas resources, in conjunction with plans to increase production and enhance the energy sector's ability to meet domestic demand.
https://1news-iq.net/الزيدي-يرعى-توقيع-عقد-لتطوير-وتشغيل-حق
Ajeel Field Targets 122% Increase In Gas Production
2026-09-12 15:55 Shafaq News- Saladin Iraq plans to more than double gas production at the Ajeel oil field in Saladin, from about 135 million to 300 million standard cubic feet per day, under a new 25-year development contract aimed at supplying more domestic fuel to power plants and industry.
Signed by the state-run North Oil Company and KEPT under the sponsorship of Prime Minister Ali Al-Zaidi, the contract also targets a gradual increase in crude output from around 30,000 to 40,000 barrels per day (bpd).
Deputy Oil Minister for Extraction Affairs Naseer Aziz told Shafaq News that reaching those levels will require integrating extraction with processing and transportation, including rehabilitating existing infrastructure and adding facilities where needed.
At full capacity, Ajeel would yield an extra 165 million standard cubic feet of gas per day, a 122% increase, alongside a 10,000-bpd rise in crude production.
Speaking to Shafaq News, Deputy Minister for Gas Affairs Izzat Saber Ismail said the new volumes could enter the national network to supply power plants and industrial users, with part of the output converted into liquefied petroleum gas and condensates.
Can Existing Infrastructure Handle the Increase?
Processing remains the main challenge. Aziz instructed the relevant authorities to conduct a technical study to determine whether facilities operated by the North Gas Company can absorb the projected volumes or need further development.
The findings will establish what upgrades are required to process and transport Ajeel’s gas, a key factor in realizing the field’s full economic potential.
The development forms part of Baghdad’s efforts to expand domestic energy supplies, curb imports, and capture associated gas that would otherwise be flared.
Read more: Iraq's gas flaring paradox: a wealth of resources, a nation in need
Beyond Crude Production
Economic expert Ali Khalil told Shafaq News that Ajeel could generate greater value by placing gas at the center of its development rather than treating it primarily as a byproduct of crude extraction. Output of 300 million standard cubic feet per day, he estimated, could make a significant contribution to Iraq’s energy supply if directed toward power generation and domestic industries.
Khalil cautioned, however, that the returns will depend on whether Iraq builds sufficient infrastructure to bring the extra gas and condensates into use.
Read more: Iraq power 2026: War on Iran collapses the grid ahead of peak summer
https://www.shafaq.com/en/Economy/Ajeel-field-targets-122-increase-in-gas-production