Chevron and Iraq are in advanced discussions to form a consortium to build and revive a pipeline network running into Syria as countries look for ways to bypass the Strait of Hormuz.
The US oil major is partnering with Los Angeles-based TI Capital and a group owned by the Syrian-Qatari billionaire Al-Khayyat brothers to form a consortium to establish the pipeline network, according to four people familiar with the matter.
Chevron, which is expected to sign a memorandum of understanding with Iraq regarding the development of two major oilfields in the south of the country on Thursday, is in negotiations to work on building a pipeline running from southern Iraq to the north of the country near the oil town of Kirkuk.
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