Iraq, US enter 'long-term partnerships' as they sign nearly 50 deals
[Rudaw] American and Iraqi officials on Friday signaled a new phase in bilateral business engagement in the oil sector, as Iraqi Prime Minister Ali al-Zaidi's week-long visit to the United States has resulted in the signing of nearly 50 deals between the two countries in various fields.
Baghdad has forged "long-term partnerships with major global corporations, such as Chevron, ExxonMobil, Halliburton, and KBR," Iraqi Oil Minister Basem Mohammed Khudair al-Abadi told Rudaw in Washington on Friday.
"These partnerships aim to develop the oil industry and elevate production capacities for both oil and gas," he added.
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US Secretary of Energy Chris Wright said an "exciting new chapter" between Iraq and the US is unfolding to expand business relations as a "strategic partnership that lasts a long-term has a large commercial component."
"Today was a big day for the US relationship with Iraq," he told Rudaw.
Zaidi met with US President Donald Trump
...dictatorial for repealing some (but not all) of the diktats of his predecessor, misogynistic because he likes pretty girls, homophobic because he doesn't think gender bending should be mandatory, truly a man for all seasons...on Tuesday and said his visit "was not like any visit" by former Iraqi officials. He framed it as an "announcement of economic" rather than "military" partnership.
He added that Iraq's current economic situation necessitates "a strategic partner" to help steer the economy forward, pointing to the US as "the most strategic partner in the world" in that regard.
Accordingly, his office said on Saturday that Zaidi has "sponsored the signing of 48 agreements, memoranda of understanding, cooperation agreements, and partnership declarations between various public and private sectors in Iraq and the United States."
Commenting on the deals involving oil and electricity, Oil Minister Abadi told Rudaw that they aim to "bring an end to the issue of flared gas and to search for new sources of free or associated gas in order to secure the fuel needed for electricity generation."
"This will ultimately secure substantial financial revenues for Iraq, which will be utilized to build infrastructure and develop the country," he explained.
The development comes as the US plans to withdraw troops from Iraq by the end of September and shift the partnership with Iraq toward a political and economic one.
Kurdish firms secure major US partnerships at Washington business summit
[Rudaw] Kurdish business leaders on Friday announced new partnerships with major American companies during the US-Iraq High-Level Business Summit in Washington, highlighting growing private-sector ties as Baghdad and Washington shift their relationship toward long-term economic cooperation during the high-level visit by the Iraqi government delegation.
Among the largest announcements, Barham Company signed an agreement with US engineering giant KBR to develop gas processing infrastructure in Iraq.
"We are here today to sign a contract with the American company KBR, which is a massive and major company," Shwana Azeez of Barham Company told Rudaw at the summit. "The goal is to refine the raw gas we extract and turn it into liquefied gas and dry gas for electricity generation."
He said the project will be implemented in phases, with "the first stage approximately $800 million, and the second stage reaches $2 billion," adding that the agreement was signed "in the presence of the Iraqi Prime Minister."
Sardar al-Bebany, CEO of Sardar Group, announced an expanded partnership with US powersports manufacturer Polaris, saying the company would now exclusively represent the brand across Iraq after previously operating in the Kurdistan Region.
The business announcements came as Iraqi and American officials on Friday unveiled nearly 50 agreements during Zaidi's week-long visit to Washington, signaling a broader shift in bilateral relations from security cooperation toward long-term economic and commercial partnerships.
"We had worked with them in Kurdistan previously, but now, we will start working exclusively for the entire Iraqi market," Bebany said, adding that the agreement covers "automobiles, motorcycles, and various types of mobility."
"So far, we have reached $30 million in business with Polaris. We hope that once we start our operations in cities outside of Kurdistan, it will reach $60 million," he added.
Sabah Bajger of Cihan Group said the summit brought together senior Iraqi officials and business leaders seeking new investment opportunities.
"Many businessmen, entrepreneurs, and company owners participated. We, as entrepreneurs from Kurdistan, took part in this major conference," he said.
Bajger described the attendance of Iraqi Prime Minister Ali al-Zaidi as "a great support for all the businessmen who came to find work and business opportunities," adding that Cihan Group hoped to showcase its business activities during the event.
Samir Khther of Ziko Company said his firm is expanding environmental projects with major international energy companies to reduce gas flaring.
"We have contracts with Chevron, ExxonMobil, and BP," he said, explaining that the company's projects aim to prevent gas flares from emitting black smoke.
"Our job is to prevent flares from emitting black smoke, which impacts the health and lives of citizens," Khther said.
He added that Ziko now has contracts with Lukoil, BP, Shell, and South Gas in southern Iraq and has also begun similar work in the Kurdistan Region.
"We have started working in Kurdistan with the Bazian and Lanaz refineries... We will assist them in providing a safer and cleaner environment for our citizens," he said.
Zaidi has described the visit as the beginning of an "economic" rather than "military" partnership with the US, while Iraqi officials said the agreements include major investments in oil, gas, electricity, and infrastructure.
Iraqi Oil Minister Basem Mohammed Khudair al-Abadi said the partnerships with companies including Chevron, ExxonMobil, Halliburton, and KBR are intended to expand Iraq's oil and gas production, reduce gas flaring, and secure fuel supplies for electricity generation. The agreements come ahead of the planned withdrawal of US-led coalition forces from Iraq by the end of September, with both countries seeking to deepen political and economic cooperation.
Iraq, Syria sign deal to construct pipeline
[Rudaw] Iraq and Syria on Friday signed an initial deal, supported by the US, to construct a pipeline connecting Kirkuk to Baniyas.
The Memorandum of Understanding was signed in Washington under the auspices of US Secretary of Energy Chris Wright. The deal aims to "enhance joint cooperation in the oil and gas sectors," the Iraqi oil ministry said in a statement on Friday.
"The agreement focuses on the implementation of the 'Vital Energy Corridor' project, designed to connect oil production to global export markets via the Mediterranean Sea," it added. "It involves the construction of a pipeline extending to the Syrian coast on the Mediterranean, aimed at diversifying export routes and strengthening regional energy security."
Under the agreement, the Kirkuk-Baniyas pipeline, which was constructed decades ago but was damaged during the Syrian civil war, will be renovated, Syrian state media reported.
Ahmed Qabbaji, deputy CEO of the Syrian Petroleum Company, told Rudaw's Nalin Hassan on Friday that the new pipeline will replace the old line. He noted that the new line's capacity will reach two million barrels per day, and it is expected to be completed within 30 months of the agreement being signed.
The agreement was signed during the US-Iraq High-Level Business Summit in Washington, hosted by the US Chamber of Commerce. It was part of a wider package of roughly 50 agreements and memorandums of understanding between Iraq and the United States valued at a combined $60 billion.
Tom Barrack, US Special Envoy for Syria and Iraq, also attended the event.
US President Donald Trump's "new paradigm of Middle East nation states connectivity alliances paired with Iraq's young, bold, and visionary PM @alZaidi, is charting a transformative corridor across Mesopotamia, the Levant, Türkiye, and the Gulf—rendering the Strait of Hormuz far less consequential very soon," he later said in a post on X.
The project will be implemented by a US-led consortium that includes Chevron.
The development comes against the backdrop of Washington’s efforts to diminish the significance of the Strait of Hormuz, which has been used by Iran as a trump card during its ongoing war with the US. Iraq exported most of its oil through the waterway before its closure.