“Tidbits From TNT” Friday 8-22-2025

TNT:

Tishwash:  Trade: Iraq has completed the technical files to join the World Trade Organization.

Minister of Trade Athir Dawood Al-Ghariri announced that Iraq has completed the technical requirements for joining the World Trade Organization after two decades of challenges.

Al-Ghariri stated in a statement that "Iraq has completed all the technical files required to join the World Trade Organization, after a negotiating process that spanned more than twenty years, during which Iraq faced numerous challenges and delays."

The minister explained that "this achievement was accomplished during the term of the current government, through intensive, qualitative efforts that surpassed what was accomplished in all previous stages combined," stressing that "Iraq is now in an advanced position paving the way for fulfilling the requirements for full membership."

Al-Ghariri explained that "the national team concerned with accession, in coordination with the relevant ministries and sectoral bodies, and in partnership with international institutions, completed the review and update of all technical files, which included: the foreign trade system memorandum, the legislative implementation plan, agricultural support tables, the import licensing file, customs valuation, in addition to the sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) files."

He continued: "The team also prepared accurate answers to (175) questions and inquiries submitted by the member states of the organization, while the Iraqi customs system was updated to the latest version in line with international standards and enhancing Iraq's readiness for the next stages."
The minister confirmed that "the files will be officially submitted to the WTO Secretariat through diplomatic channels, in preparation for the next meeting of the working group."

Al-Ghariri concluded by saying, "What has been achieved is the fruit of the government's extensive support, continuous coordination with all ministries and national institutions, and the efforts of the Department of Foreign Economic Relations in leading this strategic path, with the goal of strengthening Iraq's position in the global trading system, serving its national economy, and achieving sustainable development.  link

************

Tishwash:  Al-Sudani and the Venezuelan ambassador discuss activating memoranda of understanding and agreements related to air transport.

 Prime Minister Mohammed Shia al-Sudani discussed bilateral relations and ways to enhance them in various fields, including cooperation within the framework of OPEC, with the Venezuelan Ambassador to Iraq, Arturo Anibal Caicos Ramirez, on Thursday.

The Prime Minister's Media Office stated in a statement received by Al-Eqtisad News that "the meeting discussed bilateral relations and ways to strengthen them in various fields, through activating memoranda of understanding and agreements, particularly those related to air transport services and cooperation within the framework of OPEC."

During the meeting, Al-Sudani affirmed that "Iraq is committed to enhancing coordination within the framework of oil policies, including the exchange of technical expertise and cooperation to ensure stability in oil markets." He also praised Venezuela's role in OPEC and its commitment to controlling global oil prices.

Al-Sudani praised the Venezuelan government's supportive stance on the Palestinian cause, noting the importance of exerting efforts to halt the crimes and violations perpetrated by the Zionist occupation forces against the Palestinians and to end the humanitarian suffering in the Gaza Strip.

For his part, the Venezuelan ambassador conveyed the greetings of the President of the Republic of Venezuela to the Prime Minister, his desire to strengthen bilateral relations, and his appreciation for Iraq's role in peacemaking and maintaining international stability and peace, especially in light of the progress and prosperity the country is witnessing in the areas of security, economy, reconstruction, and development.  link

************

Tishwash:  Norwegian company resumes oil production in the Kurdistan Region. 

A Norwegian company has resumed oil production in the Kurdistan Region, after a nearly month-long shutdown following drone attacks on several fields in the region .

Norwegian oil company  DNO announced on Thursday, August 21, 2025, the resumption of oil production at its Tawke and Pashkabir fields in the Kurdistan Region of Iraq, after it was halted last month due to drone attacks in the region .

Shares of the Norwegian company, which also raised its dividend on Thursday, rose 11.6% in morning trading, according to the Washington-based energy platform, following the announcement of the resumption of oil production in Iraqi Kurdistan .

The Norwegian company's fields were among five oil fields in Iraqi Kurdistan that were targeted by drone attacks in mid-July, disrupting approximately 150,000 barrels per day of the region's total production, estimated at 250,000–300,000 barrels per day .

“The company resumed production from the Tawke field in early August on a trial basis, while production from the Beshkabir field resumed later in the month ,” DNO said in a statement accompanying its second-quarter earnings report.

She noted that the attacks hit surface processing equipment in the Bashkabir field and an oil storage tank in the Tawke field, adding that no one was injured .

She added that while the months-long repairs are still pending, the company has increased its total production on a trial basis to 55,000 barrels of oil equivalent per day, split almost equally between the Tawke and Peshkabir fields .

The company's average oil production in Kurdistan was 82,100 barrels of oil equivalent per day in the first quarter, but declined by 9% in the second quarter, reaching approximately 74,760 barrels per day .

The company explained that the production decline in Iraqi Kurdistan was the result of an operational shutdown imposed by market disruptions, during which DNO used the time to conduct maintenance and conversions scheduled for later this year .

The Norwegian company, which owns 75% of the Tawke license, where the Tawke and Peshkabir fields are located, announced that it aims to increase oil production in Kurdistan to 100,000 barrels of oil equivalent per day in the long term .

The Tawke field, along with the Bashkabir field, forms a single concession operated by the Norwegian oil and gas company DNO in partnership with Genel Energy, which holds a 25% stake. The concession is located in the Zakho region, near the Turkish border .

The Tawke field is one of the oldest fields to enter production in Kurdistan, having been in operation since 2007, and currently produces approximately 29,000 barrels per day .

The field's recoverable reserves are estimated at between 150 and 370 million barrels, making it a key pillar of Iraqi Kurdistan's oil landscape .

The Beshkabir field was discovered in 2016 and began production in 2017. It produces approximately 49,000-54,000 barrels per day, with cumulative production reaching more than 100 million barrels by March 2023 .

On August 13, Gulf Keystone Petroleum announced the resumption of production at the Shaikan oil field, which was also subjected to drone attacks   link

Mot:  It is Amazing What Ya Can Do On Your Own!! -- HUH!!! 

Mot:  Ya Know Those Questions That Keep YOU UP at Night!!!