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Story summary
- U.S. companies signed roughly $60 billion in agreements with Iraq to develop alternative oil export routes.
- Prime Minister Ali Falah al-Zaidi and Chevron signed three agreements at the U.S. Chamber of Commerce in Washington on July 17 2026.
- Ambassador Thomas Barrack said the pipeline deals will make the Strait of Hormuz an afterthought.
- Goldman Sachs estimates seven pipelines could carry about 14 million barrels per day by end-2028, about 60 % of current Hormuz shipments.
