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Friday, October 16, 2026English edition
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The Geopolitician

Country risk, from the local press

Iraq · Country watch

SOMO Compensates IOCs, Iraq-Kuwait Flights Resume

SOMO compensates oil companies with extra barrels, and Iraq resumes flight routes with Kuwait, impacting energy and logistics sectors.

· · 5 sources

The picture Stable

Business conditions in Iraq remain stable as SOMO compensates IOCs, improving energy sector relations, while resumed flights with Kuwait enhance logistics.

In this briefing US dollar · Iraqi dinar · State Oil Marketing Organization · Gulf Keystone Petroleum · Iraq · Kuwait

Regulation

Nothing significant reported today.

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

Nothing significant reported today.

Companies

Nothing significant reported today.

Markets

  • finance

US dollar rises slightly against Iraqi dinar

The exchange rate for the US dollar against the Iraqi dinar saw a slight increase on Thursday in Baghdad and Erbil, Iraqi News reports. This minor fluctuation in currency value could affect the purchasing power and import costs for businesses operating in Iraq. Currency exchange rates are closely monitored by financial institutions and businesses to anticipate changes in trade and investment conditions.

Impact Importers face slightly higher costs due to the increased US dollar rate against the dinar.

Sources: Iraqi News ↗

Trade

  • energy
  • logistics

SOMO compensates IOCs with extra oil barrels

The State Oil Marketing Organization (SOMO) has begun compensating international oil companies (IOCs) with additional oil barrels to reconcile export sales from Q4 2025 with international prices. Gulf Keystone Petroleum (GKP) and other IOCs involved in tripartite interim export agreements are receiving these top-up barrels, Iraq Business News reports. This move aims to settle outstanding payments and maintain favorable relations with foreign oil companies operating in Iraq.

Impact International oil companies like GKP receive compensation, improving cash flow and operational stability.

Sources: Iraq Business News ↗

  • logistics

Iraq resumes flight routes with Kuwait

Iraq has announced the resumption of flight routes with Kuwait, according to PUKmedia Kurdish. This development is expected to enhance connectivity and facilitate travel and trade between the two countries. The reopening of these routes follows a period of suspended flights, which had disrupted logistics and affected businesses reliant on air travel between Iraq and Kuwait.

Impact Logistics and travel sectors benefit from improved connectivity between Iraq and Kuwait.

Sources: PUKmedia Kurdish ↗

Politics

Nothing significant reported today.

Also today in Iraq

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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