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Iraq, US ink 48 deals during PM's visit, mainly in oil sector

by Agence France-Presse - AFP

BAGHDAD, IRAQ Jul 19, 2026 - 10:59 am GMT+3
U.S. President Donald Trump (R) shakes hands with Iraqi Prime Minister Ali al-Zaidi during a meeting in the Oval Office of the White House, Washington, U.S., July 14, 2026. (EPA Photo)
U.S. President Donald Trump (R) shakes hands with Iraqi Prime Minister Ali al-Zaidi during a meeting in the Oval Office of the White House, Washington, U.S., July 14, 2026. (EPA Photo)
by Agence France-Presse - AFP Jul 19, 2026 10:59 am

Iraq has signed 48 deals and partnerships with American companies, many in the oil sector, during the recent visit by newly-elected Prime Minister Ali al-Zaidi to Washington, his office announced on Saturday.

Oil-rich Iraq has been trying to move past decades of war and unrest, but still suffers from poor infrastructure, failing public services, mismanagement and endemic corruption.

It is in urgent need of an economic boost, especially after losing revenue due to a halt in oil exports caused by the Middle East war.

"A total of 48 agreements, memoranda of understanding, cooperation agreements, and partnership declarations were signed between public and private sector entities in Iraq and the United States," the Iraqi leader's media office said.

They include "cooperation and partnerships involving the ministries of oil and electricity... with ExxonMobil, KBR, GE Vernova, Shell, and Halliburton," as well as several deals related to the construction of a major crude oil pipeline between Iraq and Syria.

Iraq also signed a deal with Starlink, which dominates the global satellite communications sector, to introduce services to the country.

On Tuesday, U.S. President Donald Trump praised Zaidi as a "champion" in a meeting at the White House.

Zaidi, a businessman, came to power this year with U.S. blessing after Trump vetoed another candidate.

He has vowed to boost Iraq's fragile economy and disarm pro-Iran armed groups in Iraq that have targeted U.S. facilities.

Iraq has long walked a tightrope between the competing influences of allies, the U.S. and neighboring Iran.

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  • Last Update: Jul 19, 2026 1:13 pm
    KEYWORDS
    us-iraq relations united states iraq oil sector oil middle east
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