Iraqi prime minister to visit Washington on Monday; oil and gas deals expected
XLE•Oil, gas and security issues on the agenda
"The agreements to be signed will include several memorandums of understanding in the oil and gas sector as Iraq prepares to bring in various U.S. companies that will provide momentum to increase oil production capacity," government spokesperson Haider al-Aboudi said.
Iraq's state news agency, citing al-Aboudi, said the planned oil and gas agreements would also seek to create alternative export outlets to reduce Iraq's exposure to disruptions in the Strait of Hormuz.
Iraq, like other Gulf oil producers, has suffered a drop in oil revenue due to the effective closure of the vital shipping route during the U.S.-Iran war.
Al-Aboudi said strengthening Iraq's armed forces would also be among the issues discussed in Washington.
Washington visit and expected energy deals
BAGHDAD, July 12 (Reuters) - Iraq's prime minister will visit Washington on Monday to deepen strategic ties with the United States, with oil and gas deals expected to be signed as part of a broader push for economic, trade and investment cooperation.
Iraq has been seeking to balance its ties with neighbouring Iran and the U.S. as military escalation between the two rivals continues.
Strained U.S.-Iraq relations and recent diplomacy
Relations between Iraq and the U.S. have at times been strained over the presence of U.S. troops in Iraq, Baghdad's ties with Iran, and U.S. pressure on Iraq to curb the influence of Iran-backed armed groups.
However, after being nominated for the premiership in April, Ali al-Zaidi received congratulations from U.S. President Donald Trump, who said he hoped for closer cooperation between Baghdad and Washington.
