TotalEnergies extends deadline to conclude $27bn Iraq deal

After negotiations nearly fell apart two weeks ago, the French firm gave until Feb. 15 to finalize a deal — a deadline now extended by one month.
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)

TotalEnergies has agreed to extend a deadline to finalize a $27 billion package of energy contracts with Iraq, creating more space for negotiations after the deal nearly fell apart earlier this month.

The two sides have kept the deal alive through a long period of political limbo by issuing a sequence of two-month extensions, the latest of which was set to expire Feb. 15. That deadline has now been extended by one month, according to two Iraqi oil officials and one industry official familiar with the negotiations.

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