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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    French 'Total' withdraws its employees from Iraq in light of disagreements with Baghdad

    rocky
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    French 'Total' withdraws its employees from Iraq in light of disagreements with Baghdad Empty French 'Total' withdraws its employees from Iraq in light of disagreements with Baghdad

    Post by rocky Fri 03 Feb 2023, 4:52 am

    [size=30]French 'Total' withdraws its employees from Iraq in light of disagreements with Baghdad
    [ltr]2023.02.03 - 09:55[/ltr]
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    Baghdad - Nas  
    The Iraqi Oil Ministry acknowledged the existence of a dispute in a $10 billion agreement concluded between Iraq and the French Total Energy Group related to the percentage of participation in the project, but expressed hope that a solution would be reached through "dialogue." A government official told The Arab Weekly on condition of anonymity that the French company "was not satisfied and decided to withdraw from Iraq."  
      
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    Total Energy had signed an ambitious $10 billion contract in 2021 in Iraq, announcing its return to the country where it began its activities in the 1920s. However, the partnership faces obstacles, and the media reported disagreements between the two parties.  
      
    Oil Ministry spokesman Assem Jihad said, "Another period of time has been given to continue the dialogue to reach a solution that satisfies the concerned parties...on some contentious issues, including the percentage of participation in the project."  
      
    He explained that the authorities want to participate by up to 40 percent in investments, compared to 60 percent for Total Energy. A source in the Iraqi Oil Ministry confirmed that the French company is seeking to reduce the percentage of Iraqi participation in the investment project.  
      
    Regarding possible talks, Jihad added, "There is a space of time that may extend to a few months." He stressed, "The government and the ministry support moving forward with the agreement. We have no problems with Total, and our relationship is good and growing." He explained, "With regard to the news of the withdrawal of some employees, the question can be directed to Total."  
      
    Informed sources revealed to the London newspaper that foreign employees had left the country, while Total Energy asked Iraqi employees to work from home. This tension comes just days after Sudanese Prime Minister Mohamed Shia'a visited Paris, during which he signed a "strategic partnership treaty" with French President Emmanuel Macron.  
      
    The Iraqi prime minister also met with French businessmen to encourage investment in his country. He pointed out during the meeting that "the Iraqi government has been working since day one to improve the business environment ... and to carry out structural reform in the economy and the financial sector, in addition to its seriousness in combating corruption," according to a statement issued by his office.  
      
    The differences with Total constitute a blow to Baghdad's efforts to stop the exit of major oil companies from Iraq. Both Exxon Mobil and BP have scaled back their operations in Iraq in recent years, which has contributed to the slowdown in Iraqi oil production.  
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