Iraq plans new oil export routes beyond Strait of Hormuz, minister says

WASHINGTON, United States — WASHINGTON — Iraq's Oil Minister Basim Mohammed Khudhair said the government has a clear strategy to attract oil and gas investment, including partnerships with major U.S. energy companies that he expects to draw other global firms into the country. Speaking at a press conference, Khudhair outlined work with Chevron and ExxonMobil on the development of the West Qurna 2 field, blocks in Nasiriyah and Balad, and pipeline projects running from southern Iraq to Turkey's Ceyhan port. He said a single export route through the Strait of Hormuz is insufficient for Iraq's reserves and detailed a pipeline project from Basra to Fishkhabour connecting to the Ceyhan line, led by a consortium of U.S., Qatari and Iraqi companies. The minister added that a second line from Haditha to Baniyas would provide two additional export corridors, and that talks are ongoing with OPEC and OPEC+ allies on raising Iraq's export ceiling. On the Kurdistan Region, Khudhair announced a tripartite agreement between the federal government, the regional administration and companies requiring all oil exports to go through SOMO, Iraq's state oil marketing organization. Further details on the timeline and financing of the projects were not immediately available.