Iraq has signed 48 agreements and memoranda of understanding with American companies valued at $60 billion, spanning oil, gas, electricity, telecommunications and financial services, during Prime Minister Ali al-Zaidi's first foreign trip since taking office in May 2026.
The non-binding deals involve major energy firms including ExxonMobil, Chevron, ConocoPhillips and Halliburton, with projects targeting oil production and a pipeline linking Iraq to Syria's Banias port. ConocoPhillips will acquire a 42% stake from BP in Kirkuk to redevelop four oil fields, while Starlink agreed to introduce its satellite internet services and JPMorgan plans to open a branch in Baghdad.
US President Donald Trump praised al-Zaidi as a "champion" during a White House meeting on July 14. The visit comes as Washington seeks to strengthen economic ties and press Baghdad to curb Iranian-linked militias.