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US oil firms sign deals with Iraq to develop alternative shipping routes
U.S. companies signed $60 billion in agreements with Iraq to develop alternative oil shipping routes, including pipeline projects aimed at reducing reliance on the Strait of Hormuz. Chevron signed three agreements with the Iraqi government, focusing on boosting oil production and creating new export routes.
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Adjacent reporting
- Chevron is signing preliminary deals to invest in Iraqi oil fields and bypass the Strait of Hormuz
- Chevron and Iraq seek to bypass Strait of Hormuz with Syria pipeline
- Chevron weighs new Iraqi oil pipeline to avoid Strait of Hormuz during Iran war
- Iraq and Syria sign agreement to restore oil pipeline that would provide alternative to Strait of Hormuz