Iraq Signs $60 Billion in U.S. Oil Deals, Including Pipeline to Bypass Hormuz
Iraq has signed 48 agreements with U.S. energy companies worth more than $60 billion, a package that includes a revived pipeline through Syria to bypass the Strait of Hormuz. The deals are being finalized during the visit of Iraqi Prime Minister Ali Al-Zaidi to Washington, following his recent meeting with President Trump. The consortium backing the cross-border infrastructure project involves Syrian and Qatari entities alongside a U.S. venture firm.
The broader commercial package features major transactions from Chevron, BP and ConocoPhillips. Chevron signed agreements to advance commercial negotiations for the West Qurna 2 and Nassiriya oil fields, as well as the heads of agreement for the Iraq-Syria pipeline, which officials expect to restore a 2 million barrels per day crude corridor to the Mediterranean. In a separate deal, ConocoPhillips will acquire a 42% stake in BP's joint venture to redevelop Iraq's Kirkuk oil fields. Specific financial terms for these individual company agreements were not disclosed.
From the sources (25 posts)
@polymarketBREAKING: Chevron & Iraq advance talks on potential pipelines designed to bypass the Strait of Hormuz.
@staunovoChevron Will Explore Creating Strait of Hormuz Alternative for Iraqi Oil U.S. energy major is considering investing in oil fields and a pipeline to boost Iraq’s oil exports #oott
@staunovoChevron and Iraq seek to bypass Strait of Hormuz with Syria pipeline Consortium backing project also includes Syrian-Qatari group and LA venture firm with ties to Trump ally Tom Barrack #oott
@staunovoChevron expects to sign accords with #Iraq on Friday that will advance its negotiations about investing in large oil fields, according to a senior company executive #oott
@cnbcBP, ConocoPhillips to back Iraq with major investment as U.S. seeks to cut Iran's energy hold
@zerohedgeBP, CONOCOPHILLIPS TO PARTNER IN ONE OF IRAQ’S OLDEST OILFIELDS
@chigrl$BP $COP BP, ConocoPhillips to Partner in One of Iraq’s Oldest Oilfields BP Plc said ConocoPhillips will acquire 42% of its stake in a venture that’s redeveloping Iraq’s giant Kirkuk oil fields, a major revival project for the OPEC heavywe
@openoutcrier$COP (+2.0% pre) BP, ConocoPhillips to back Iraq with major investments as U.S. seeks to weaken Iran’s energy hold
@openoutcrier$BP (+1.4% pre) $COP ConocoPhillips to buy 42% stake in BP venture supporting redevelopment of Iraqi oil fields
@staunovoBP Plc said ConocoPhillips will acquire 42% of its stake in a venture that’s redeveloping Iraq’s giant Kirkuk oil fields, a major revival project for the OPEC heavyweight that has experienced output decline since the Iran war began. Financ
@ericldaugh🚨 BREAKING: In a massive development, US oil giant Chevron is signing a deal with Iraq to *CIRCUMVENT* the Strait of Hormuz as they move into Iraqi oil fields This is HUGE, Iran is fuming! 🔥 "Chevron will sign a Memorandum of Understandi
@marionawfal🇺🇸🇮🇶 Chevron is signing an agreement with the Iraqi government to enter into 2 oil fields... They want to study possibly moving oil from Iraq north and around the Strait, perhaps through the Mediterranean. This comes just 3 days after Ira
@firstsquawkUS WELCOMES COOPERATION BETWEEN IRAQ, SYRIA ON PIPELINE
@financialjuiceThe US welcomes cooperation between Iraq and Syria on the pipeline. The pipeline will have an initial capacity of 2m bbl/day when done.
@staunovoAnnouncement of Cooperation Between the Government of the Republic of Iraq and the Government of the Syrian Arab Republic on the Rehabilitation and Reconstruction of the Iraq-Syria Crude Oil Pipeline #oott
@staunovoThe United States welcomes the Government of the Republic of Iraq and the Government of the Syrian Arab Republic’s intent to advance the rehabilitation and reconstruction of the Iraq-Syria crude oil pipeline as a priority infrastructure pro
@cnbcIraq and Syria sign agreement to restore oil pipeline that would provide alternative to Strait of Hormuz
@financialjuiceIraq and Syria sign an MOU to rehabilitate the Haditha-Baniyas pipeline, to be implemented by Chevron - Iraqi State News Agency. $CVX
@financialjuiceChevron Signs Agreements for Major Iraq and Syria Oil Projects $CVX
@firstsquawkCHEVRON SPOX: SIGNED AGREEMENT WITH IRAQ'S BASRA OIL COMPANY TO ADVANCE COMMERCIAL NEGOTIATIONS FOR WEST QURNA 2
@firstsquawkChevron Spox: Signed Agreement With Iraq's Basra Oil Company To Advance Commercial Negotiations For West Qurna 2 - Signed Agreement With Iraq's Thi Qar Oil Company To Advance Negotiations For Nassiriya Oilfield And Surrounding Exploration
@dlacalle_iaIraq and Syria sign agreement to restore oil pipeline that would provide alternative to Strait of Hormuz
@rusoilgasexpert➡️ Thanks for posting this. I'd add a couple of things to it, though: 1⃣ The UAE doesn't just "want" to double capacity to Fujairah: The line is reportedly already under construction, having been started very quietly in 2025.* 2⃣ Iraq is a
@clashreportThe Kirkuk–Baniyas pipeline (built 1950s, shut since the early 1980s) is being revived to route Iraq's crude through Syria to the Mediterranean. Combined with new parallel lines, capacity could reach ~2–2.5M barrels/day flowing to Syria's
@nexta_tvSyria and Iraq have signed a memorandum of understanding on the restoration of the Kirkuk–Baniyas oil pipeline The pipeline, which has been out of operation since the early 1980s, will be restored to transport Iraqi oil through Syria to th