Basra Oil Co. head expects Qatar to take 20-25% stake in TotalEnergies’ Iraq project 

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Thu, 2023-02-02 11:26

BASRA: The head of Iraq’s Basra Oil Co. told Reuters on Wednesday that he expects Qatar to acquire a 20-25 percent stake in TotalEnergies’ $27 billion cluster of energy projects in the country, with the Baghdad government aiming to hold around 40 percent. 

A major investment in the projects by a Gulf state would be an important win for Iraqi Prime Minister Mohammed al-Sudani, who took office last October following more than a year of political turmoil. It would also be considered a step towards countering Iranian influence. 

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