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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: We are waiting for the approval of the Iraqi government to complete an agreement worth

    Rocky
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    • Post n°1

    French Total: We are waiting for the approval of the Iraqi government to complete an agreement worth Empty French Total: We are waiting for the approval of the Iraqi government to complete an agreement worth

    Post by Rocky Wed 22 Mar 2023, 5:19 am

    [size=45][size=41]French Total: We are waiting for the approval of the Iraqi government to complete an agreement worth 27 billion dollars[/size]
     4 hours ago
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    [/size]

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    Patrick Pouyanne, CEO of French oil company Total Energies, said that no solution had yet been reached regarding the stalled agreement between Iraq and the company on an energy project worth more than $27 billion.
    In September 2021, Total Energies agreed 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 ten billion dollars.
    But the deal, which Baghdad had hoped would stop major oil companies from leaving the country, remains stuck amid disagreements over its terms.
    Pouyan said that the agreement was subjected to tests when the elections were held, and with the change of government after its signing. Sources said that the new Iraqi government, which was elected last October, insists that the country get a 40% stake in the project, which is a major point of contention.
    Pouyanne stated that Total Energies needs the new government to confirm its approval of the contract signed in September 2021 before completing the agreement.
    "We haven't got that yet," Poujan said. And to be honest, if we do not get this confirmation, I cannot expose the company to more risks… Iraq is not the easiest place to invest with all its risks… We know the energy security situation and we know the geopolitical situation.”
    He added, “I hope we can find common ground. I worked on this last month, but again, we need that political response.”
    On Sunday, Hayan Abdul-Ghani, Iraq's oil minister, said talks between Iraq and Total Energies on this agreement had reached advanced stages.
    In connection with the matter, Abdel-Ghani revealed his country's intention to offer a sixth licensing round for a number of oil and gas fields in the western regions of the country, adjacent to the Jordanian, Syrian and Saudi borders.
    The minister affirmed work to expand the circle of investment in gas associated with oil, in agreement with the oil companies operating in the country, in order to stop importing gas from Iran that is used to operate power plants, during the next five years.
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