Iraq’s US$27bil Total deal stuck over job disputes

Iraq has struggled to attract major fresh investments into its energy industry since signing a flurry of post US-invasion deals over a decade ago. The Iraqi government has cut oil output targets repeatedly as international oil companies that signed those initial deals leave due to poor returns from revenue sharing agreements. (File pic: An Iraqi oil field. - Reuters)

LONDON: A US$27bil (RM113.22bil) deal between France’s Total and Iraq, that Baghdad hoped would reverse the exit of oil majors from the country, has stalled amid disputes over terms and risks being scrapped by the country’s new government.

Iraq has struggled to attract major fresh investments into its energy industry since signing a flurry of post US-invasion deals over a decade ago.