👈 Iraq signed a $60 billion energy contract with American companies

At a U.S.-Iraq business meeting, Western energy companies signed dozens of agreements for oil, gas, and pipeline projects with Iraq. Baghdad is seeking to strengthen ties with Washington and develop alternative export routes to bypass the Strait of Hormuz.

Chevron plans to invest in a pipeline from Iraq to the coasts of Mediterranean Syria. ConocoPhillips has also purchased a 42% stake in “BP Energy Kirkuk” and is joining the effort to redevelop four oil fields in northern Iraq.

The Iraqi prime minister emphasized that Baghdad uses an open-door policy to attract investment.

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