Overview

* ShaMaran Q3 2025 revenue declines 2% yr/yr, missing analyst expectations

* Company resumed full production after July drone strike, impacting Q3 results

* ShaMaran announces interim agreements for Iraq-Türkiye pipeline exports

Outlook

* ShaMaran expects increased accounts receivable due to longer payment terms for oil exports

* ShaMaran plans to finalize long-term agreements with Erbil and Baghdad for payment assurance

Result Drivers

* PIPELINE REOPENING - Resumption of Iraq-Türkiye pipeline exports allowed ShaMaran to receive international prices for oil, improving revenue recognition

* DRONE ATTACK IMPACT - July drone attacks caused temporary production shutdowns at Sarsang and Atrush, affecting Q3 revenue

* INTERIM AGREEMENTS - ShaMaran executed interim agreements with KRG and Iraq, enabling the restart of international exports via the pipeline

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $28.94 $32 mln

Revenue mln (1

Analyst)

Q3 $16.39

EBITDAX mln

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)