Iraq, Syria to restore oil pipeline that provides alternative to Hormuz

Iraq and Syria signed an agreement Friday to rebuild an oil pipeline that would provide an alternative to the Strait of Hormuz.

Baghdad and Damascus signed the deal at a Chamber of Commerce summit in Washington on U.S. investment in Iraq. Energy Secretary Chris Wright presided over the signing by Basra Oil Company CEO Bassem Abdul Karim Nasr and Syrian Petroleum Company CEO Youssef Qablawi.

“There is so much room to drive improvement in Iraq, to raise oil production, to reduce dependencies on hostile neighbors, to bring freedom, prosperity…