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Monday
10 Jul 2023

Iraq, Totalenergies Sign a $27 Billion Deal for Energy Projects

10 Jul 2023  by reuters   

The logo of French oil and gas company TotalEnergies is seen on an oil tank at TotalEnergies fuel depot in Mardyck near Dunkirk, France, January 16, 2023. REUTERS/Benoit Tessier/File Photo
Iraq and French oil major TotalEnergies (TTEF.PA) on Monday signed a long-delayed $27 billion agreement to build four oil, gas and renewables projects.

The deal was signed in 2021 with an initial investment of $10 billion in southern Iraq over 25 years, but it was delayed amid disputes between Iraqi politicians over terms.

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