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

Key Points:

• Iraq has signed multiple preliminary agreements with Western oil companies, including Chevron, to restore an energy supply route bypassing the Strait of Hormuz, aiming to reduce dependence on this strategic chokepoint amid regional conflicts.
• Iraq and Syria agreed to reconstruct the Iraq-Syria crude oil pipeline from Kirkuk to Syria’s Baniyas port, with Chevron leading the project; the pipeline is expected to transport an initial capacity of 2 million barrels per day.
• The US Department of State supports the pipeline rehabilitation, describing it as a critical corridor linking Iraqi oil to Mediterranean and global markets, to be managed by a US-led international consortium.
• US ambassador Tom Barrack stated that these pipeline projects will make the Strait of Hormuz "an afterthought," emphasizing Iraq’s strategic shift in energy export routes.
• Beyond energy, Iraq signed agreements worth over $60 billion with US firms across energy, healthcare, and technology sectors, including a formal deal to operate Starlink internet services in the country.