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Iraq to take 30% stake in $27 billion TotalEnergies project

Progress had stalled on multi-million-dollar deal amid disagreements with Iraqi lawmakers over terms.
TotalEnergies CEO

The Iraqi government has finally reached an agreement to take a 30% stake in TotalEnergies' long-delayed $27 billion Iraq project, Reuters reported Tuesday, citing three sources familiar with the talks. 

The deal, which has experienced several delays amid disagreements between Iraqi lawmakers over terms, is central to Baghdad’s efforts to lure back foreign investment after several oil majors decreased their operations in the politically fragmented and unstable country over recent years. 

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