Iraq signs deals with Western oil companies, including reviving Syrian pipelines | Powerful Stories

The deal with Chevron aims to rebuild a crude oil pipeline that runs from Iraq’s oil-rich Kirkuk to Baniyas in Syria.

The Iraqi government has made a number of deals with Western oil companies, including the restoration of an energy supply line that Baghdad can use to export its oil without the Strait of Hormuz.

The initial agreements, which were signed at the United States-Iraq trade meeting at the US Chamber of Commerce in Washington on Friday, come as Baghdad seeks to end its dependence on the Strait of Hormuz, itself. traffic has been severely disrupted as a result of US-Israel is at war with Iran.

Iraq and Syria have signed a memorandum of understanding to rebuild the Iraq-Syria crude oil pipeline, which runs from the oil-rich Kirkuk region in northern Iraq to the Syrian port of Baniyas.

The Iraqi news agency said that the major US company Chevron will carry out the work under the agreement.

In a statement, the US State Department said it welcomes Iraq and Syria’s plan to restore the pipeline, which it said “an international partnership led by the US” will “do both technically and economically”.

“At full capacity, the project will have a capacity of 2 million barrels per day of crude oil,” the State Department said. It called the pipeline “an important link for Iraqi oil to export markets in the Mediterranean and beyond”.

‘Make Hormuz next’

US Ambassador to Turkey Tom Barrack said the recent oil pipeline deal in Iraq will lead to a program “that will make the Strait of Hormuz an illusion”.

In addition to the Syrian pipeline project, Chevron signed two other deals with Iraq aimed at boosting oil production, said company president Jake Spiering.

The Iraqi government has also signed an agreement with ⁠Starlink, owned by Elon Musk’s SpaceX, to operate in the country, Iraqi media reported.

In total, the initial contracts of the Iraqi authorities with US companies, related to energy, health and technology, are worth more than $ 60bn, said Reuters.

“We are using an open door policy,” Iraqi Prime Minister Ali al-Zaidi said through an interpreter at the Washington conference. “Anyone who has a job should come and talk to us, we won’t bother anyone.”