Iraq Sees Chevron Deal Going Beyond MOU

摘要

Two of the five energy deals that Iraq signed with US companies last week stand a good chance of turning into major oil and gas development projects, according to Iraqi Finance Minister Ali Allawi. Allawi was speaking after the US energy department claimed the five deals were worth up to $8 billion but gave few details, fueling speculation that they were little more than memorandums of understanding (MOUs). The Iraqi government inked accords with Honeywell, Chevron, Baker Hughes, General Electric and Stellar Energy on Aug. 19, during a visit to Washington led by Prime Minister Mustafa al-Kadhimi. The prime minister also discussed the divisive issue of US troops in Iraq (IOD Aug.19'20). Since his appointment in May, al-Kadhimi has sought to reset Iraq's relations with Washington, which have been strained by escalating tensions between the US and Iran. He has also sought to secure badly needed foreign investment in the face of severe economic difficulties caused by the oil price slump.