Chevron to sign Iraq oil deals and explore Hormuz bypass pipeline

Chevron is set to sign investment agreements with Iraq on Friday for the West Qurna 2 and Nassiriya oilfields. The company is also exploring a pipeline that would bypass the Strait of Hormuz, a key chokepoint for global oil shipments. These moves bring Chevron closer to Iraq's largest oil prize and suggest a strategy to reduce reliance on the Hormuz route.