Chevron Plans Deals for Iraqi Oil Fields and Pipeline Study

Chevron plans to sign preliminary deals Friday to invest in Iraqi oil fields and study construction of a pipeline from Kirkuk to the Syrian port of Baniyas. The New York Post reported the agreements would place the company in a consortium examining whether to build new infrastructure or repair the existing route. An Iraqi oil pipeline along that corridor has remained shut since damage in 2003.

A senior Chevron official told the New York Post the company has discussed the projects with the Iraqi government for 12 to 18 months. The same official described the preliminary deals as a long ways from the finish line. Iraqi Prime Minister Ali Al Zaidi met Chevron Vice Chairman Mark Nelson and other executives at the company's Houston headquarters on Thursday.

He had met President Trump in the Oval Office two days earlier. A senior Trump administration official stated the United States is facilitating conversations between Iraq and Syria on energy projects and supports the growing diplomatic relationship between the two countries. Chevron confirmed it is discussing possible investments in the Nasiriyah and West-Qurna-2 fields.

A company spokesperson said Chevron looks forward to sharing its expertise in successfully developing oil and gas projects to support Iraq in further developing its energy resources. The company declined to comment on pipeline reports, stating it does not comment on third-party statements or commercial matters. On Thursday the U.S.

Average price of diesel rose to $5.01 a gallon while regular gasoline averaged $3.94 a gallon, according to AAA data cited by the New York Post.