Iraq Inks Long-Awaited $27 Billion Energy Deal With TotalEnergies

The government of Iraq and TotalEnergies earlier today signed a long-awaited deal worth $27 billion that should see Iraq’s oil production grow and boost its reliance on domestic gas for power generation. The deal also involves the development of low-carbon energy in Iraq, Reuters reported. The deal dates back to 2021 when TotalEnergies signed multi-energy agreements in Iraq for the construction of a new gas network and treatment units, the construction of a large-scale seawater treatment unit, and the construction of a 1-gigawatt photovoltaic…