Iraq in July 2026: the most important developments in economy
In July 2026 Iraq's economy centered on oil. On July 17 ConocoPhillips bought a 42% stake in BP's Iraq oil project, and Chevron was to sign memorandums of understanding with Iraq for the West Qurna 2 and Nassiriya oilfields. On July 5 Iraq signed a deal with the oil services company Halliburton and approved preliminary agreements to study strategic oil export pipeline projects. It also aims to raise non-oil revenues to 45 percent. On July 14 Iraq and the United States discussed a proposed Iraq-Syria oil pipeline that would let Iraqi exports bypass the Strait of Hormuz, and Washington backed the project on July 15. President Donald Trump spoke of "massive" oil deals with Iraq during a visit by the Iraqi prime minister. Iran and Iraq agreed to strengthen communications infrastructure for the Arbaeen pilgrimage.
by WorldBrief & Maksim Micheliov | AI-generated summary
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