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Arab nations sign new agreement with US
Iraq and Syria signed a memorandum to rehabilitate the oil pipeline extending from Haditha to Baniyas, with Chevron designated to execute the project. Baghdad plans to establish 50 agreements and memoranda of understanding with the United States, totaling up to $60 billion, to strengthen economic and investment cooperation between the two countries. The project is a vital step for energy infrastructure, as it will provide a transport capacity of up to two million barrels of oil daily, thereby enhancing regional stability and stimulating the local economy.
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