UPDATE: Iraq approves compromise on TotalEnergies mega-deal
Iraq's Cabinet has approved a reduced 30 percent stake for the state in an effort to unlock a $27 billion deal that could be critical for boosting oil, gas, and electricity supplies.
Leadership from French oil firm Total and Iraq's Oil and Electricity Ministries sign a Heads of Agreement on March 29, 2021. (Source: Oil Ministry media office)
UPDATE: This story has been updated to include more details on the Cabinet’s decision and background information about Iraq’s negotiations with TotalEnergies.
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