# US Companies Pledge Billions to Iraq's Energy Sector

- Topic: business
- Source: CNBC
- Published: 2026-07-17
- Original: https://www.cnbc.com/2026/07/17/bp-conocophillips-to-back-iraq-with-major-energy-investment-.html
- Language: en
- Image: https://image.cnbcfm.com/api/v1/image/108289673-1775815842478-gettyimages-2227922173-UK_BP.jpeg?v=1775815890&w=1920&h=1080

The US is seeking to bolster Iraq's energy sector with significant investments from major companies. The announcements are expected during the US-Iraq Business Summit in Washington. This move aims to reduce Iraq's reliance on energy routes vulnerable to disruption.

## Key takeaways

- BP and ConocoPhillips are set to announce billions of dollars in new investments in Iraq.
- The investments will focus on expanding oil and gas production and diversifying export routes.
- The US-Iraq Business Summit in Washington is expected to feature over $60 billion in agreements and memorandums of understanding.

> Summary by Daily Read Bytes. Read the original at https://www.cnbc.com/2026/07/17/bp-conocophillips-to-back-iraq-with-major-energy-investment-.html