Baghdad:Iraq is making strides to finalize and activate contracts with U.S. energy giants Chevron and ExxonMobil. Deputy Prime Minister for Energy Affairs Mohsen Al-Mandalawi emphasized the importance of these agreements to increase the nation’s crude oil production and export capacity.

According to National Iraqi News Agency, Al-Mandalawi chaired a significant meeting attended by the Ministers of Oil and Electricity, senior officials from the Ministry of Oil, and other key figures. The discussion centered on enhancing Iraq’s oil sector capabilities, increasing crude production and exports, and tackling challenges posed by the Strait of Hormuz crisis impacting oil shipments.

The meeting also explored the need for alternative export routes to ensure the continuous flow of Iraqi oil to global markets. Discussions further included the electricity sector’s needs, such as upgrading distribution networks and securing gas supplies, to prepare for the upcoming summer season. Al-Mandalawi highlighted the necessity to support international oil companies in Iraq and called for swift measures to boost production capacity, addressing current challenges.