Trump’s Envoy: We Are Closely Monitoring The Process Of Forming The New Government.
Time: 2025/11/21 21:36:25 Reading: 0 times {Local: Al-Furat News} Mark Savaya, US President Donald Trump’s envoy, confirmed on Friday that Washington is “carefully monitoring” the process of forming the new Iraqi government.
Mark said in a tweet on the X platform, which was followed by Al-Furat News: “I look forward to visiting Iraq soon and meeting with key leaders.”
He added that “Iraq has made great progress over the past 3 years, and we hope that this progress will continue in the coming months.” LINK
Iraq Is Moving Towards An American Company To Develop The Hamrin Oil Field.
Energy Economy News — Baghdad The state-owned North Oil Company announced that it held a meeting with the American company HKN Energy at its headquarters in Kirkuk Governorate, as part of the government’s efforts to develop oil fields and strengthen international partnerships in the energy sector.
The Director General of the North Oil Company, Amer Khalil Ahmed, said in a statement received by “Al-Eqtisad News” that the meeting with the American company delegation came to finalize the technical vision regarding the Hamrin oil field development project, noting that the final version of the development file, which the Ministry of Oil is working on in cooperation with specialized international companies, has been reached.
He added that the meeting comes in implementation of the directives of the Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani Al-Sawad, regarding the need to accelerate the technical and administrative steps related to developing the fields and increasing production, stressing that the ministry is directly following up on this file because of its strategic importance in enhancing the country’s production capacity.
The general manager explained that HKN is one of the companies that has a memorandum of understanding and a memorandum of principles (HoA) with Iraq, which paves the way for concluding a comprehensive development contract during the next period, after completing the technical conditions specific to the project.
HKN American Company
In a press release following the meeting, HKN Energy said the partnership with North Oil “represents an important step within the company’s strategy to develop Iraqi fields according to the latest technologies adopted in the oil sector.”
The statement confirmed that HKN is currently working with technical teams from North Oil and the Ministry of Oil to complete the necessary technical and logistical procedures to begin development operations, noting that the coming period will witness “the activation of serious field steps at the level of geological studies, infrastructure development, and preparation of drilling sites.”
The company also expressed its commitment to “supporting the Iraqi government’s plans to develop the oil sector and invest in associated gas in northern Iraq,” stressing that the Hamrin field project will be one of the pivotal projects in this regard.
Production at the Hamrin field is scalable.
In a specialized comment, oil expert Ali Khalil said that the Hamrin oil field is “one of the important fields in northern Iraq, and has recoverable reserves ranging from 1.5 to 2 billion barrels according to the technical estimates circulating.”
The expert explained that the field’s current production ranges between 20,000 and 25,000 barrels per day, a production that is “significantly capable of being increased” after the completion of the planned development operations.
He explained that the plan developed with HKN aims to raise production to 50-60 thousand barrels per day during the coming years, which will directly reflect on increasing oil revenues and supporting the national energy network.
Khalil pointed out that one of the most important aspects expected in this project is the investment in associated gas, as studies indicate the possibility of producing between 45 and 50 million cubic feet per day of gas, which can be invested in generating electricity and reducing gas flaring in the region.
He stressed that developing the field will contribute to “revitalizing the local economy in Kirkuk and Salah al-Din, creating job opportunities for young people, and improving the oil infrastructure in the region.”
https://economy-news.net/content.php?id=62530
Iraq’s Oil Exports Exceeded 110 Million Barrels In October
Energy Statistics on oil exports from the Iraqi Oil Marketing Company (SOMO) for the month of October showed that more than 110 million barrels of oil were loaded through the ports of Basra and Ceyhan, Turkey, including 5 million barrels of oil from the Kurdistan Region, with a daily average of 188,000 barrels.
According to statistics published by the Iraqi Oil Marketing Company (SOMO), last October saw the loading of 110,650,970 barrels of exported oil by ships at the ports of Basra and Ceyhan, Turkey, which is approximately 3.6 million barrels per day.
Of these, 66,078,192 barrels were light oil exported through Basra ports, and 38,737,914 barrels were heavy oil loaded from the same port.
An official source at the North Oil Company stated in a press release that “this statistic pertains to the quantity of exported oil loaded by ships, after being stored in warehouses at the ports of Basra and Ceyhan, Turkey.”
According to the statistics, out of the total amount of oil in October, the amount of Kurdistan Region oil loaded at the Turkish port of Ceyhan amounted to 5 million, 834 thousand, 864 barrels, which were loaded over 8 days.
Oil exports from the Kurdistan Region via the Turkish port of Ceyhan resumed on September 27, 2025, after having stopped at the end of March 2023. The statistics stated that the average amount of oil loaded from the Kurdistan Region in October was 188,200 barrels per day.
Quantity of Kurdistan Region oil loaded at Ceyhan port:
2025-10-3: 647010 barrels
2025-10-6: 331024 barrels
2025-10-9: 1031445 barrels
2025-10-13: 601823 barrels
2025-10-16: 587398 barrels
2025-10-20: 1027119 barrels
2025-10-24: 608680 barrels
2025-10-30: 1000365 barrels
https://economy-news.net/content.php?id=62555
Ports Authority Announces Full Completion Of The New Navigation Channel At The Grand Faw Port
Friday, November 21, 2025 | Economy Number of views: 144 Basra / NINA / The Director General of the General Company for Iraqi Ports, Farhan Al-Fartousi, announced the complete completion of dredging work on the new navigation channel, one of five infrastructure projects belonging to the Grand Faw Port.
Al-Fartousi stated in a press release: “The channel is 100% complete, with a final depth of 19 meters. It extends for 23 kilometers with a width of 200 meters and forms a vital part of the Khor Abdullah waterway.”
He added: “The procedures for approving and confirming these depths with the UK Hydrographic Office (UKHO) are currently underway, following the completion of a field survey of the navigation channel by a third party.”
It is worth noting that the project is part of the government’s plans to enhance the capabilities of Iraqi ports and facilitate the movement of large vessels, contributing to increased trade and logistical efficiency, especially with the imminent operation of the Grand Faw Port. /End https://ninanews.com/Website/News/Details?key=1263069
Gold Is Declining And Heading For A Weekly Drop.
Economy 21/11/2025 Mawazin News – Gold prices fell and are on track for a weekly decline after a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve will not cut interest rates at its December meeting.
Spot gold fell 0.2 percent to $4,062.79 per ounce by 01:57 GMT.
The precious metal is down 0.3 percent so far this week. US gold futures for December delivery rose 0.2 percent to $4,068.10 per ounce, according to Reuters.
A US Labor Department report, delayed due to the federal government shutdown, showed that non-farm payrolls increased by 119,000 jobs in September, more than double the expected increase of 50,000.
Traders now expect the US central bank to cut interest rates next month with a probability of about 39 percent, down from a 60 percent forecast earlier this month.
Gold, which does not yield interest, typically tends to rise in low interest rate environments.
The dollar is on track for its strongest weekly performance in over a month on Friday. A stronger dollar makes gold, which is priced in dollars, more expensive for holders of other currencies.
Among other precious metals, spot silver fell 0.4 percent to $50.39 an ounce, platinum rose 0.4 percent to $1,517.95, and palladium gained 0.3 percent to $1,381.22. https://www.mawazin.net/Details.aspx?jimare=270582
Oil Prices Fell For The Third Consecutive Session
Economy | 21/11/2025 Oil prices continued their decline for the third consecutive session as the United States pressed for a peace agreement between Russia and Ukraine that would allow for increased oil supplies in the global market, while uncertainty surrounding a potential US interest rate cut dampened investor appetite for risk.
Brent crude futures fell 71 cents, or 1.12 percent, to $62.67 a barrel by 0212 GMT, after declining 0.2 percent in the previous session.
US West Texas Intermediate crude futures were at $58.29 a barrel, down 71 cents, or 1.20 percent, after closing 0.5 percent lower on Thursday, according to Reuters.
Both benchmarks are on track to fall more than 2 percent this week due to concerns about increased supply.
Washington is pushing for a peace plan between Ukraine and Russia to end the three-year war, even as sanctions against Russian oil companies Rosneft and Lukoil are set to take effect on Friday. Lukoil has until December 13 to sell its massive international portfolio.
“With Ukraine not yet formally rejecting the agreement, the slim chance of a deal is weighing on prices, as it would eliminate much of the geopolitical risk premium for war that has been added to the price of crude,” said Tony Sycamore, market analyst at IG, in a note.
A stronger dollar has also weighed on oil prices because it makes the commodity more expensive for holders of other currencies.
The dollar is on track for its best weekly performance in more than a month on Friday as investors bet that the Federal Reserve is unlikely to cut interest rates next month. https://www.mawazin.net/Details.aspx?jimare=270583
In Numbers… Planning Ministry Reveals The Size Of Private Sector Investments In The Five-Year Plan
Economy 21/11/2025 Mawazin News – Baghdad: The Ministry of Planning confirmed that the volume of private sector investments within the five-year plan will reach 84 trillion dinars.
According to the official news agency, the Ministry of Planning spokesperson, Abdul Zahra al-Hindawi, stated that “Iraq has previously launched its Sustainable Development Vision 2030, which takes into account the fundamental Sustainable Development Goals agreed upon by the international community and reflects them in policies, programs, and development plans according to their phases.
” He pointed out that “the 2024-2028 five-year development plan covers almost the remaining period of Iraq’s Sustainable Development Vision 2030 and includes goals related to health, education, poverty reduction, youth empowerment, partnerships, housing, and other 17 goals that are directly relevant to the Iraqi context.”
He added, “These goals are translated into policies according to the five-year development plan and other strategies.” He pointed out that “Iraq is now preparing to launch its third national poverty reduction strategy, which will cover the remaining five years of Iraq’s Sustainable Development Vision 2026–2030.
This strategy will address poverty in its various dimensions, focusing on empowering and supporting the poor in areas such as health, housing, education, living standards, and employment.”
He noted that “a special fund has been established to support the poorest areas, aligning with the Sustainable Development Goals and reflecting these developments through programs and policies.” He explained that “civil society was a partner in the preparation of the 2024–2028 five-year development plan.
At all stages of preparation, civil society was represented through the presence of active civil society organizations. They were our partners in the preparation phases, and their continued partnership after preparation and launch involves monitoring and oversight to ensure the plan progresses according to its established paths and objectives.”
Al-Hindawi explained that “the private sector is a partner in all stages of preparing and implementing the five-year development plan, and it has been given a significant role in the Iraqi investment landscape as defined by the plan.
” He added that “the private sector’s contribution to the overall investment program is 35 percent, compared to 65 percent for the public sector, representing approximately 84 trillion dinars in investments to be undertaken by the private sector.”
Al-Hindawi pointed out that “strengthening the role of the private sector in development, project implementation, and economic policy formulation came about through the establishment of the Permanent Council for Private Sector Development, chaired by the Prime Minister, with representatives from all economic activities and sectors within the private sector as members.
” He emphasized that “this represents an important step towards achieving a genuine partnership between the public and private sectors to support the private sector and enable it to play its developmental role effectively and robustly.” https://www.mawazin.net/Details.aspx?jimare=270596
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