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Story summary
- Iraq will rebuild a pipeline to export oil through Syria, a four-year, $15 billion project.
- Treasury Secretary Scott Bessent said 50-70 percent of Iraq’s oil will travel via pipelines, rendering the Strait of Hormuz irrelevant in two years.
- Chevron, ConocoPhillips and Qatar’s UCC Holding signed a June deal to fund the revived Kirkuk-to-Banias line linking fields to a hub in Haditha.
