Iraq nears $27 billion deal with TotalEnergies.

Iraq's oil minister, Hayan Abdel-Ghani, has said that talks with TotalEnergies to resolve issues in a $27bn energy deal have reached advanced stages. The deal, signed in 2021, would see TotalEnergies build four oil, gas and renewables projects in southern Iraq over 25 years. However, disputes over Iraq's demand for a 40% share in the project have caused delays. Abdel-Ghani did not comment on the share issue but said that Iraq is committed to maintaining its 220,000 bpd oil output cut in line with its quota under the latest OPEC+ agreement.