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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: There is no solution with Iraq to complete the major energy deal

    Rocky
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    French Total: There is no solution with Iraq to complete the major energy deal Empty French Total: There is no solution with Iraq to complete the major energy deal

    Post by Rocky Wed 22 Mar 2023, 5:08 am

    French Total: There is no solution with Iraq to complete the major energy deal

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    Economy News _ Baghdad
    Today, Wednesday, the CEO of the French oil giant (Total Energy), Patrick Pouyanne, renewed his assertion that the stalled agreement with Iraq regarding an energy project worth $ 27 billion has not yet been resolved.
    And Total Energies agreed in September 2021 to invest in four oil, gas and renewable energy projects in the Basra region in southern Iraq over a period of 25 years, with an initial amount of $10 billion.
    But the deal, which Baghdad had hoped would reverse the exit of major oil companies from the country, has been stuck amid disagreements over the terms.
    "The deal was tested through elections and a change of government after signing," Pouyanne said, adding that "TotalEnergies needs the new government to confirm the contract signed in September 2021 before concluding the deal."
    He continued, "At the present time, we have not obtained it, if we do not understand it, to be honest, I cannot expose a company to a mixture of risks," noting that "Iraq is not the easiest place to invest with all the risks. We know the energy security situation and we know the geopolitical situation."
    Pouyanne added: "I hope we can find common ground that I worked on last month, but again, we need this political answer."
    In addition, sources reported that the new Iraqi government, which was voted on last October, insists that the country obtain a 40% stake in the project, which was a major sticking point.
    On Sunday, Iraqi Oil Minister Hayan Abdul-Ghani said that the talks between Total Energy and Iraq regarding the deal "have reached advanced stages."


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