Iraq Approves Chevron-Linked Pipeline Study to Bypass Hormuz as U.S. Backs Syria Route
Updated
Updated · OilPrice.com · Jul 15
Iraq Approves Chevron-Linked Pipeline Study to Bypass Hormuz as U.S. Backs Syria Route
3 articles · Updated · OilPrice.com · Jul 15
Summary
$1 preliminary step approved by Iraq lets Basra Oil Company sign with U.S. firms including Chevron to study new export pipelines that avoid the Strait of Hormuz.
The U.S. is backing a rebuild of the damaged Kirkuk-Baniyas line from northern Iraq to Syria's Mediterranean coast, aiming to cut Iran's ability to disrupt Iraqi crude flows.
Hormuz's closure exposed Iraq's dependence on the chokepoint, forcing OPEC's second-largest producer to curb upstream output and costing Baghdad billions of dollars in lost revenue.
Thomas Barrack has hosted talks with Iraqi and Syrian officials and oil companies on the route, while alternatives such as a Basrah-Haditha line branching to Syria, Turkey or Jordan remain under review.
The push gained visibility as Donald Trump hosted Iraqi Prime Minister Ali al-Zaidi, underscoring a broader Gulf scramble for overland export corridors after the Hormuz crisis.