Iraq signs 48 contracts with US firms during prime minister's Washington visit

A series of agreements announced this week will fund the reconstruction of the Iraq‑Syria crude oil pipeline, a route that has lain dormant since the early 2000s. The contracts, signed by the governments of Iraq and Syria along with several regional investors, outline a multi‑year plan to restore the 1,200‑kilometre line that once linked Iraq’s oil fields to the Mediterranean port of Tartus. Engineers estimate that the revived pipeline could transport up to 500,000 barrels of crude per day once operational, providing an alternative export corridor that bypasses the strategically sensitive Strait of Hormuz.

The revived pipeline is expected to reduce reliance on maritime shipping through the Persian Gulf, a chokepoint that has been vulnerable to geopolitical tensions and security incidents. By offering a land‑based export path to European and Asian markets, the project aims to lower transportation costs and enhance energy security for both Iraq and Syria. Completion is projected for 2029, after which the route could reshape regional oil logistics and lessen the impact of potential disruptions in the Strait of Hormuz.