Iraq Economic News And Points To Ponder Thursday Morning 4-2-26
An analytical comparison between the central bank's support for the national economy and Iraq's qualification for the World Cup
Samir Al-Nassiri Economy News – Baghdad On April 1st, Iraqis everywhere, from the far north to the far south, and those living abroad, erupted in a frenzy of joy that defied all logic as their national team qualified for the World Cup, the highest tournament in which nations can participate. Iraq's name echoed across news agencies, newspapers, and media outlets worldwide.
The true reason for this was that the team represented all Iraqis and had qualified after being restructured and developed by an experienced coach who refused to accept defeat and whose goal was always to overcome challenges. This success was further fueled by players who loved Iraq and possessed the spirit of challenge and determination to reach the World Cup.
In an analytical approach that some may find strange, I find it consistent with the reality that the world is currently experiencing in complex political, security and, most importantly, economic circumstances.
Especially the countries of the geographical region and Iraq directly, and its suffering from the effects of the current situation on our economy and the cessation of Iraq’s main revenue, which is oil exports, along with the lack of liquidity in the government and a financial situation and challenge that threatens the imminent collapse of the Iraqi economy if the current war continues.
Here, the Central Bank of Iraq emerged to announce its commitment to confronting the crisis and its determination to overcome the challenges, steer the economy away from collapse for as long as possible, and address the shortcomings in other sectors. This was clarified in its statement on March 8th.
So the Central Bank is now steering the ship of the economy towards the shore of rescue and real reform through wise measures it has taken for the years 2023-2025 and is currently taking through its implementation of the economic reform strategy, achieving monetary and financial stability, and building foreign currency and gold reserves, which ensures the smooth running of the economy and confirms that it is always the savior in all the economic shocks that Iraq has suffered in the past and present.
This is what will make all Iraqis rejoice, just as they rejoiced when our national team qualified for the World Cup.
Therefore, the belief is that Iraqis will always triumph in the economy, sports, and other fields because they believe that they create opportunities from challenges.
O God, protect Iraq and its noble people, and let us proclaim this with the loudest voices.
Hold your head high, you are Iraqi. https://www.economy-news.net/content.php?id=67429
A Massive Oil Pipeline Project Linking Iraq To Three Seas Amid Regional Crises... And A Silence That Raises Questions
Reports Economy News – Baghdad In a remarkable development with significant economic and strategic dimensions, information has emerged that Heritage Funds LPF, based in Hong Kong, has submitted a formal offer to the Iraqi Ministry of Oil to implement and finance two giant oil and gas pipeline projects, within the framework of barter contracts in exchange for a share of crude oil.
This offer comes at a very sensitive time, coinciding with the repercussions of the Iranian-Israeli-American war, and the accompanying regional turmoil that led to the cessation of Iraqi oil exports as a result of the closure of the Strait of Hormuz, which doubled the need to find alternative and safe outlets for oil exports.
Despite the importance and size of the offer under these circumstances, the surprising and controversial aspect is that the Iraqi Ministry of Oil has not yet issued any official response to the proposal, which raises questions about the fate of one of the most prominent potential projects in the Iraqi energy sector.
In this regard, economist Nabil Al-Marsoumi presented details of a new proposal to extend oil pipelines in Iraq, in a move aimed at enhancing export capabilities and diversifying the country’s oil outlets.
According to the information presented, Heritage Funds LPF, based in Hong Kong, submitted a proposal to the Iraqi Ministry of Oil to implement and finance a strategic project to lay oil and gas pipelines, based on an Engineering, Procurement and Construction (EPC) system, and in the form of barter contracts in exchange for a share of crude oil.
The proposal includes the implementation of two main projects: The first: extending a pipeline starting from the port of Basra to the modern city, and then extending to the port of Aqabain Jordan, or to the port of Latakia on the Mediterranean Sea in Syria.
The second project, according to Al-Marsoumi, is the construction of a pipeline extending from the port of Basra to the Turkish border.
These projects, if implemented, are expected to reduce reliance on traditional outlets, enhance the flexibility of Iraqi oil exports, and open new horizons for regional cooperation in the energy sector.
Innovative Financing In Times Of Crisis
According to the details of the offer, the company relies on the Engineering, Procurement and Construction (EPC) system, where it undertakes the financing and implementation in full, in exchange for recovering costs through a share of crude oil, which may constitute a practical solution in light of the financial crises and pressures facing the country.
A Chance For Salvation Or A Disturbing Silence?
With exports through the Gulf halted, observers believe that these projects are no longer just development options, but have become a strategic necessity to ensure the continued flow of Iraqi oil to global markets.
However, the absence of an official response from the Iraqi Ministry of Oil remains the most prominent issue, which puts this offer between two possibilities: either a real rescue opportunity under consideration, or a project that may be lost amidst complications and delays.
Between a crippling export crisis and a huge investment opportunity, the most pressing question remains: Why is the Iraqi Ministry of Oil remaining silent so far?
Does this silence foreshadow an upcoming decision, or does it reflect a hesitation that could cost Iraq a historic opportunity at one of the most critical moments in its oil history? https://www.economy-news.net/content.php?id=67300
Oil Prices Rally 6% Following Trump Address On Iran War
2026-04-02 Shafaq News Oil prices climbed more than $5 on Thursday, as President Donald Trump said the United States would keep up attacks on Iran without committing to a specific timeline to end the war, fanning investor fears about sustained disruptions to supply.
Brent crude futures rose $6.33, or 6.3%, to $107.49 per barrel by 0407 GMT. U.S. West Texas Intermediate crude futures were up $5.28, or 5.3%, to $105.40 per barrel.
The gains followed an earlier fall of more than $1 in both benchmarks prior to Trump's televised speech to the nation, after having settled lower in the previous session.
"We are going to finish the job, and we're going to finish it very fast. We're getting very close," Trump said, adding that the U.S. military had nearly achieved its goals in the conflict which would end in two to three weeks, but giving no specifics.
Markets are reacting to the fact that "no clear mention of ceasefire or diplomatic engagement," figured in the speech, said Priyanka Sachdeva, senior market analyst at Phillip Nova.
"If tensions intensify or maritime risks increase, oil could test fresh highs as markets price in potential supply disruptions."
Threats to maritime traffic have grown as the regional conflict intensifies. On Wednesday an oil tanker leased to QatarEnergy was hit by an Iranian cruise missile in Qatari waters, its defence ministry said.
The head of the International Energy Agency also cautioned that supply disruptions would start to affect Europe's economy in April. The continent had previously been shielded by cargoes contracted before the start of the war.
"Without any mention of a solid ceasefire plan or material off ramp, markets are left continuing to digest the administration's statements," said Claudio Galimberti, Rystad Energy's chief economist. (REUTERS)
https://www.shafaq.com/en/Economy/Oil-prices-rally-6-following-Trump-address-on-Iran-war
Basrah Crude Drops Over 9% Despite Global Oil Rise
2026-04-02 Shafaq News- Basrah Basrah crude fell more than 9% on Thursday, diverging from rising global oil prices.
Basrah Heavy dropped $10.96, or 9.79%, to $98.46 per barrel, while Basrah Medium fell by the same amount, 9.61%, to $100.56 per barrel.
Global benchmarks rose, with Brent at $107.49 per barrel and US West Texas Intermediate (WTI) at $105.40, recovering part of the previous session’s losses.
Iraqi crude is priced by destination: exports to Asia track the average of Dubai and Oman crude, shipments to Europe are benchmarked to Brent, and exports to the United States follow WTI, each with premiums or discounts based on market conditions.https://www.shafaq.com/en/Economy/Basrah-crude-drops-over-9-despite-global-oil-rise