Iraq’s semi-autonomous Kurdistan Regional Government (KRG) brought in record export revenues for Q2, enabling substantial progress in paying down its dues to IOCs and trading houses (MEES, 30 September). But the region’s geopolitics remain charged. Not only are the foreign firms that dominate the region’s energy sector under pressure from a Baghdad Supreme Court ruling (MEES, 18 February), but a military campaign by Iran’s Revolutionary Guards (IRGC) has heightened security concerns with several missiles hitting the region in recent weeks.

The shelling could threaten a fragile political agreement struck last week that would see major Kurdish parties join the Iran backed Shia Coordination Framework (SCF) to form a new Iraqi government (MEES, 30 September). (CONTINUED - 1192 WORDS)