Iraqi PM pursues greater Chevron investment in energy sector
Shafaq News- Washington/ Baghdad
Iraqi Prime Minister Ali Al-Zaidi on Thursday called on US energy giant Chevron to expand its investments in Iraq and speed up new projects as part of Baghdad’s strategy to increase crude oil production and diversify export routes.
According to the PM media office, Al-Zaidi pledged government support for refineries, petrochemical industries, and gas production facilities during talks with Chevron Chairman and CEO Mike Nelson and the company’s board at its Washington headquarters.
Nelson expressed Chevron’s interest in broadening its presence in Iraq through investments in southern oil fields, pipelines linking production sites to regional ports, and storage facilities.
Read more: US investment dominates al-Zaidi's Washington meetings
Iraq aims to increase crude oil production to 7 million barrels per day within three years, up from the current 4.2–4.5 million bpd, Al-Zaidi said in late June.
The meeting with Chevron preceded Friday’s signing in Washington of “the largest package of agreements and memorandums of understanding” in the history of US-Iraq relations, which covers energy, investment, the economy, technology, education, healthcare, security, infrastructure, and private sector development, while opening the Iraqi market to major US companies, according to an informed government source.
Al-Zaidi arrived in the US capital on Monday for a seven-day official visit, leading a high-level delegation of ministers, senior officials, investors, and business leaders.
Read more: Al-Zaidi at the White House: A sustainable partnership or continued crisis management?
