Chevron (CVX) CEO Wirth says he is optimistic the company will successfully conclude Iraq negotiations and establish operations as early as next year, according to a CNBC interview

• He sees elevated prices for both crude oil and refined products globally.
• Looking to meet Europe’s need for imports with LNG and other types of energy supply.

Supermajor entries into Iraq's upstream have a long history of being announced optimistically and concluded slowly, with negotiations between international oil companies and Baghdad repeatedly strung out over contract terms, cost recovery mechanics, and the split between federal and regional authorities. CEO-level optimism of this kind is a standard feature of the process and has historically preceded final signatures by a wide margin; the market has learned to discount headline timelines heavily until a contract type and fiscal terms are on the table. The operative questions are the structure of any deal, whether service contract or something closer to equity participation, and whether it sits with the federal government or the Kurdistan regional administration, since the two carry very different payment-risk and export-route profiles. The LNG and European supply comments sit in the established pattern of integrated majors framing themselves as replacement suppliers for disrupted pipeline flows, a positioning that has recurred across the peer set. Worth watching is whether other majors signal parallel Iraqi interest, since clustering has tended to precede actual terms being agreed, and whether the commentary aligns with the company's existing capex allocation language at upcoming earnings. As a single interview, this is directional colour rather than a supply event; nothing here moves near-term balances.