Published On 5/7/2026
The Iraqi Council of Ministers approved the signing of preliminary agreements that pave the way for preparing studies for strategic projects for oil export lines, in a step aimed at enhancing the flexibility of export outlets and diversifying their routes, while emphasizing that the agreements do not entail any final financial or contractual obligations on the Ministry of Oil.
The Council said, in a statement carried by the Iraqi News Agency (INA), that it agreed to authorize the Basra Oil Company to sign a principles agreement and a confidentiality agreement and non-disclosure of information with a coalition that includes the American companies “Capital TI” and “Chevron”, in addition to the Qatari “UCC” company, with the possibility of one of the Iraqi public companies joining the coalition.
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Under the agreements, the coalition will begin preparing technical and financial feasibility studies and integrated plans to compare two main oil export routes, namely: Basra-Haditha-Kirkuk-Ceyhan, and Basra-Haditha-Baniyas, which will contribute to evaluating strategic options for expanding Iraqi crude export outlets.
The Council of Ministers stressed that these agreements are limited to the studies and preparation stage, and do not impose any final financial or contractual obligations on the Ministry of Oil.
The Council also authorized the Basra Oil Company to contract with KBR to provide consulting services for the oil pipeline project between Basra and Haditha.
Support increased production
The Council of Ministers also approved the signing of agreements between the Ministry of Oil, represented by the Basra Oil and Northern Oil Companies, and the American Chevron Company, with the aim of supporting plans to increase production.
The Council also approved adding 25,000 barrels of crude oil to the Iraqi-Chinese agreement.
In the electricity file, the Iraqi Council of Ministers approved authorizing the Ministry of Electricity to sign an agreement to implement the comprehensive plan to secure Iraq’s energy and develop the electricity sector (production and transmission) with the American company GE, provided that the agreement enters into force simultaneously with the entry into force of the framework agreement to be signed between Iraq and the United States of America.
