Iraq signs deals with Western oil firms, including to revive Syria pipeline

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Source: Aljazeera

"Iraq’s government has struck dozens of agreements with Western oil companies, including to restore an energy supply route Baghdad could use to export its oil without the Strait of Hormuz.

The preliminary deals, signed at a United States-Iraq business summit at the US Chamber of Commerce in Washington on Friday, come as Baghdad seeks to move away from dependence on the Strait of Hormuz, where transit has been heavily disrupted due to the US-Israel war against Iran.

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

In total, Iraqi officials’ initial agreements with US firms, spanning the fields of energy, healthcare and technology, are worth more than $60bn, reported the Reuters news agency...."

Read more: https://www.aljazeera.com/news/2026/7/17/iraq-signs-deals-with-western-oil-firms-including-to-revive-syria-pipeline

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[cliffside]

1. Western oil companies see 'fantastic' future in Iraq, sign agreements

https://www.fidelity.com/news/article/company-news/202607171538RTRSNEWSCOMBINED_L1N43J0UH_1

"WASHINGTON, July 17 (Reuters) - Western energy companies on Friday signed dozens of agreements with Iraqi officials on oil and gas and pipelines as the OPEC member seeks to deepen relations with the U.S. and develop alternatives to the Strait of Hormuz for getting its energy to global markets.

"We are using an open-door policy," Prime Minister Ali al-Zaidi said through a translator at a U.S.-Iraq business summit at the U.S. Chamber of Commerce where Iraqi officials and U.S. energy, healthcare and technology companies signed non-binding agreements and memorandums of understanding of more than $60 billion. "Everybody who has a project can come and talk to us. We will not make it difficult for anyone," Zaidi said.

The U.S.-Israeli war on Iran has rocked Iraq's neighboring country and the wider Middle East. Tom Barrack, an envoy to the region for President Donald Trump, said on one hand the war has created chaos and confusion but on the other Iraq is "at the forefront of a new strategic security alliance" with the U.S. and others. Zaidi visited Chevron's ( CVX ) headquarters in Houston on Thursday before Iraqi officials signed agreements with the oil major to advance its potential entry into Iraq's West Qurna 2 and Nassiriya oilfields. Jake Spiering, a Chevron ( CVX ) president of corporate business development, told the Chamber event that his company will be investing in a pipeline to avoid the Strait of Hormuz and create another export route out of Iraq. Such a pipeline could transport Iraqi oil to the west coast of Syria which is on the Mediterranean Sea.

Iraq's exports have been hit hard by the war in part due to the partial closing of the strait through which 20% of the world's oil and gas typically flowed....'

[msongs]

2. seems like a pipline would be an easy target for bad actors nt

[cliffside]

3. Agree and mentioned in this video ....

https://www.cnbc.com/2026/07/17/iran-war-iraq-syria-oil-pipeline-strait-hormuz.html


But at least we have our foot in the door to explore Iraqi oil thanks to the bombing of Iran.

[cstanleytech]

4. Same goes for the Strait of Hormuz honestly as we've seen with both Iran and Trump.