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TotalEnergies takes hard line with Iraq on GGIP

CEO frames negotiations as a test of Iraq's ability to prioritize respect for contracts over political expedience.
Then-Prime Minister Mustafa al-Kadhimi (center) oversees TotalEnergies CEO Patrick Pouyanné (left) signing one of four deals with Iraq's Oil and Electricity ministries on Sept. 5, 2021. (Source: Prime Minister's Media Office)

TotalEnergies CEO Patrick Pouyanné broke his silence about fraught negotiations with Iraq over a $27 billion set of energy deals, framing the issue as a test of the state's ability to respect contracts through changing governments and shifting political winds.

Speaking on March 21 during a presentation on the French energy major’s sustainability and climate strategy, Pouyanné said he had held several rounds of discussions with the Baghdad government and was now waiting for a “political decision” from the Iraqi government before he would proceed.

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