Iraq oil ministry denies Total deal is stumbling

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A sign with the logo of French oil and gas company TotalEnergies is pictured at a petrol station in Reze, near Nantes, France, January 21, 2022. REUTERS/Stephane Mahe

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GENEVA, Switzerland, Feb 14 (Reuters) - Iraq's oil ministry denied on Monday that there had been any issues in executing an energy deal with France's TotalEnergies (TTEF.PA).

"This agreement needs time to be realised and cannot be carried out in tight time frames," the ministry said in a statement.

Reuters reported on Monday that a $27 billion deal between Total and Iraq, which Baghdad hoped would reverse the exit of oil majors from the country, was stalling amid disputes over terms and that the agreement risks being scrapped by a new Iraqi government.

The oil ministry said agreements on the method of TotalEnergies's funding under the deal still need to be made.

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Reporting by John Davison in Geneva; Writing by Nayera Abdallah in Cairo; Editing by Chris Reese and Mark Porter

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