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Chevron plans early deals to invest in Iraqi oil and explore pipeline to Syria amid Middle East tensions

Market News
16 Jul 2026
New York Post
View Source
Bullish
Chevron plans early deals to invest in Iraqi oil and explore pipeline to Syria amid Middle East tensions

Chevron is preparing to sign preliminary agreements to invest in Iraqi oil fields Nasiriyah and West-Qurna-2 and is considering rebuilding a pipeline from Kirkuk, Iraq, to the Syrian port of Baniyas. This move aims to bypass the Strait of Hormuz, a critical but currently unstable route for global oil supplies due to renewed US-Iran conflicts. The pipeline, damaged in 2003, could help secure energy transport amid ongoing Middle East tensions and rising fuel prices in the US. Talks are ongoing with the Iraqi government, and the project is still in early stages, with diplomatic support from the US government.

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