Iraq's Energy Move: Approval of Critical Agreements with US Companies

The Iraqi Council of Ministers has taken significant steps to strengthen the country's energy infrastructure. Critical agreements with US energy companies have been approved.As part of the agreement, work will begin to improve Iraq's electricity generation and transmission infrastructure.According to a statement from the Iraqi Prime Minister's Press Office, the agreement will come into effect simultaneously with the framework agreement planned to be signed between Iraq and the US.In the oil sector, agreements will be signed between the Ministry of Oil's affiliated companies and US-based Chevron to increase production.The Council of Ministers also approved the signing of a preliminary agreement and confidentiality agreement between Basra Oil Company and a consortium consisting of US-based Capital TI, Qatari UCC Holding, and Chevron.