THE AMERICA ONE NEWS
Jun 2, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
One America News Network
OANN
4 Apr 2023


By Ahmed Rasheed and Maha El Dahan

BAGHDAD (Reuters) – Baghdad has reached an agreement to hold a 30% stake in TotalEnergies long-delayed $27 billion Iraq project, two sources told Reuters on Tuesday.

The deal was signed in 2021 for TotalEnergies to build four oil, gas and renewables projects with an initial investment of $10 billion in southern Iraq over 25 years.

But it has experienced several setbacks amid disputes between Iraqi politicians over terms.

Iraq’s demand for a 40% share in the project was a key sticking point as TotalEnergies wants a majority stake.

The agreement to lower the share to 30% was struck after meetings in Baghdad over the past few days, an industry source said.

TotalEnergies did not immediately respond to a request for comment.

“The deal should be activated within days,” a senior Iraqi oil ministry official said.

(Reporting by Ahmed Rasheed, Maha El Dahan and America Hernandez; Editing by Kirsten Donovan)

tagreuters.com2023binary_LYNXMPEJ330CS-BASEIMAGE