The offers embrace rebuilding the long-defunct Iraq-Syria crude oil pipeline, which might bypass the Strait of Hormuz.
Printed On 18 Jul 2026
Iraq has struck dozens of agreements and partnerships with American corporations, many within the oil sector, throughout a go to to america by Prime Minister Ali al-Zaidi.
“A complete of 48 agreements, memoranda of understanding, cooperation agreements and partnership declarations had been signed between private and non-private sector entities in Iraq and america,” the Iraqi chief’s media workplace mentioned on Saturday.
Beneficial Tales
record of three gadgetsfinish of record
They embrace “cooperation and partnerships involving the ministries of oil and electrical energy … with ExxonMobil, KBR, GE Vernova, Shell and Halliburton”, in addition to a number of offers associated to the development of a serious crude oil pipeline between Iraq and Syria.
Iraq additionally signed a cope with Starlink, which dominates the worldwide satellite tv for pc communications sector, to introduce companies to the nation.
The preliminary offers, signed at a US-Iraq enterprise summit on the US Chamber of Commerce in Washington on Friday, come as Baghdad seeks to maneuver away from dependence on the Strait of Hormuz, the place shipping and oil exports have been heavily disrupted as a result of US-Israel war against Iran.
Iraq and Syria signed a cooperation settlement to reconstruct the long-defunct Iraq-Syria oil pipeline, which runs from the oil-rich Kirkuk area in northern Iraq to Syria’s Mediterranean port of Baniyas.
Iraq’s state information company reported that main US power firm Chevron would perform the venture below the settlement.
The US Division of State mentioned it welcomed Iraq and Syria’s plan to rehabilitate the pipeline, for which a “US-led worldwide consortium” would “execute the technical and monetary points”.
“Upon rehabilitation, this groundbreaking venture can have an preliminary transport capability of two million barrels per day of crude oil,” the division’s assertion mentioned. It described the pipeline as “a important power hall linking Iraqi oil manufacturing to Mediterranean export markets and past”.
‘Make Hormuz an afterthought’
The US ambassador to Turkiye, Tom Barrack, mentioned Iraq’s newest oil pipeline agreements would result in a programme “that can make the Strait of Hormuz an afterthought”.
Along with the Syria pipeline venture, Chevron signed two different agreements with Iraq targeted on boosting oil manufacturing, in line with the corporate’s president of company enterprise improvement, Jake Spiering.
In complete, Iraq’s preliminary agreements with US corporations, spanning the power, healthcare and expertise sectors are value greater than $60 billion, Reuters reported.
“We’re utilizing an open-door coverage,” al-Zaidi said on the enterprise summit. “All people who has a venture can come and discuss to us. We is not going to make it tough for anybody.”
