Trump’s envoy: Chevron deal boosts Iraq’s prosperity and reinforces confidence in American investments
Trump’s envoy: Chevron deal boosts Iraq’s prosperity and reinforces confidence in American investments
2026-02-23 04:22
Shafaq News – Baghdad
US Special Envoy to Iraq Tom Barrack asserted on Monday that Chevron’s contract in Iraq reinforces US investment confidence in the country and promotes peace.
Barak said in a tweet on the “X” platform, which was followed by Shafaq News Agency, that “today represents an important milestone for the people of Iraq and for one of the leading American energy companies, Chevron,” indicating that “this partnership reflects strong support for the vision of promoting peace through shared prosperity in the Middle East.”
He added that “Chevron is committed to managing the Iraqi field, which contributes to about 12% of Iraq’s oil production.”
Barak noted that American investments in Iraq mean new opportunities for growth and job creation, as well as enhancing economic resilience and developing a future of mutual prosperity.
Earlier today, outgoing Prime Minister Mohammed Shia al-Sudani oversaw the signing ceremony of two preliminary agreements with Chevron, in the presence of US Special Envoy to Iraq Tom Barrack and Chargé d’Affaires Joshua Harris.
Basra Oil Company and Lukoil had signed a settlement agreement, through which the contract would be temporarily transferred to Basra Oil Company and all financial dues between the two parties would be settled. This settlement would be effective from the date of its approval by the Council of Ministers, according to a statement issued by Al-Sudani’s office.
Iraq also witnessed the signing of a framework agreement between Basra Oil Company, Lukoil, and Chevron, under which the contract is temporarily transferred to Basra Oil Company, which will transfer it to the American company after completing the negotiation and agreement on the terms of the new contract. This agreement also guarantees exclusive negotiation for one year to Chevron, according to the standards agreed upon between the two parties.
shafaq.com
