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21/08/2025 03:55 AST
Iraq has signed an agreement in principle with US oil major Chevron for the Nassiriya project, which includes four exploration blocks, reports said.
Iraqi Prime Minister Mohammed Shia Al-Sudani attended the signing of a principles agreement between the Ministry of Oil and Chevron.
Apart from the Nasiriyah Project, the agreement also covers development of the Balad oil field in central Iraq, and other potential fields and projects, said an IraqiNews report.
In Baghdad, Al-Sudani met with Chevron Vice President Frank Mount and his delegation, welcoming the company's return to Iraq.
Al-Sudani emphasised the government's new approach to working with major international oil firms, particularly American companies, citing Chevron's role in technology transfer, job creation, and environmental standards.
The agreement reflects Iraq's aim to reinforce its strategic partnership with the United States while advancing investment in oil production, refining, and gas utilisation, the report added.
Trade Arabia
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 66.32 | -0.09 | -0.14 |
| WTI | 63.35 | -0.47 | -0.74 |
| OPEC Basket | 68.91 | -0.58 | -0.83 |
20/08/2025
Oil prices slipped on Tuesday as market participants contemplated possible three-way talks involving Moscow, Kyiv and Washington to end the war in Ukraine, which would likely lead to the lifting of s
Reuters
19/08/2025
Oil prices were little changed on Monday as investors awaited talks between the US and Ukrainian presidents after an inconclusive US-Russia summit in Alaska on Friday
Brent crude futures ros
Arab News
15/08/2025
Oil prices nudged higher on Friday to fresh one-week highs after US President Donald Trump warned of "consequences" if Russia blocked a Ukraine peace deal, injecting concerns about supply.
Reuters
14/08/2025
Oil prices dipped midweek as market sentiment shifted in response to the International Energy Agency's latest forecast, which indicated that global oil supply is set to outpace demand this year.
Khaleej Times
13/08/2025
Oil prices rose on Tuesday as the US and China extended a pause on higher tariffs, easing concerns that an escalation of their trade war would disrupt their economies and crimp fuel demand in the wor
Reuters
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