Trump's strategy takes shape: The US and Iraq push forward with multi-million-dollar energy and trade agreements

Several U.S. companies reached a series of energy and trade agreements with Iraq on Friday, following a signing ceremony held at the U.S. Chamber of Commerce, in which several of the country's leading energy companies—including Chevron, Halliburton, ConocoPhillips, and HKN Energy—played a major role.

According to various media reports, ConocoPhillips signed an agreement to explore a natural gas field and another to partner with BP in the development of an oil field in Iraq. For its part, HKN Energy also secured a contract to develop and produce an oil field, while Chevron finalized agreements for the development of Iraqi oil fields and the evaluation of a potential oil pipeline connecting Iraq and Syria.

The agreements followed this week's meeting at the White House between President Donald Trump and Iraq's newly elected prime minister, Ali al-Zaidi, during which the Republican president highlighted the country's energy resources and economic potential. "They have tremendous oil reserves. They have tremendous potential wealth, and they have tremendous wealth, not only potential. We're going to have a long-term relationship with a man that will be a great leader. You mark my words. I knew what I was doing," Trump said from the Oval Office, referring to his support for Al-Zaidi.

Regarding the agreements, Suzanne Clark, president and CEO of the U.S. Chamber of Commerce, stated that the combined value of the agreements announced on Friday exceeds $60 billion. Likewise, Energy Secretary Chris Wright explained in a statement that these agreements will be extremely important in fulfilling Trump's mission to improve conditions in the Middle East following numerous wars and various conflicts over the past few years. "Our goal in the Middle East is to transform a region that has been torn apart by too many conflicts, reduce those tensions, and replace them with trade," he stated.