Chevron is expected to sign an agreement with Iraq on Friday to advance its negotiations on investing in large oil fields and building a pipeline that will bypass the Strait of Hormuz. A company executive said on Thursday that these agreements are not expected to be binding, but they will show that Chevron is committed to finally signing the commercial agreement for Sigurna-2 and Nasiriyah oil fields. The executive also said that Chevron is also part of a consortium of US and international companies and is exploring the possibility of building a pipeline to help Iraq export oil by avoiding the Strait of Hormuz. Earlier this week, Bloomberg News reported that the company is in talks with a consortium of investors to restart the long-abandoned Kirkuk-Baniyas pipeline, a 500-mile long pipeline that runs through Syria to the Mediterranean coast.

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