Economy

Has "TotalEnergies" reached a solution with Iraq?

Has

The CEO of the French oil company "TotalEnergies," Patrick Pouyanne, indicated today, Tuesday, that no solution has yet been reached regarding the stalled agreement between Iraq and the company concerning an energy project worth more than $27 billion. The issue centers around the insistence of the new Iraqi government that the country receives a 40% share of the project, following a previous agreement signed by the former government. Pouyanne stated, "We have not received that yet. And to be honest, if we do not get this confirmation, I cannot expose the company to a mix of risks… Iraq is not the easiest place to invest given all its risks… We know the energy security situation and we know the geopolitical situation." He added, "I hope we find common ground. I worked on this issue last month, but again, we need that political response."

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