Chevron Will Explore a Pipeline to Bypass the Strait of Hormuz. Here's What it Means for the Energy Stock.
Chevron is making some potentially big moves in Iraq.
Overview
Chevron (NYSE:CVX) is making a big push into Iraq’s oil market. The oil giant recently signed memorandums of understanding (MOUs) with the Iraqi government to enter two oilfields. Chevron also plans to evaluate potential pipeline routes that would bypass the Strait of Hormuz. That would help ensure the oil giant could get Iraqi crude to global markets.
Here’s a look at Chevron’s plans and what it means for the energy stock.
Image source: The Motley Fool.
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Originally published at www.fool.com.
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