TotalEnergies (TTE.L,TTE), the Iraqi Ministries for oil and electricity, and National Investment Commission have signed agreements covering several projects in the Basra region, for the sustainable development of the Basra Region Natural Resources to improve the country's electricity supply. This include the construction and operation of a photovoltaic power plant with a capacity of 1 GWp to supply electricity to the grid in the Basra region. The deal also include: construction of a new gas gathering network and treatment units; and construction of a large-scale seawater treatment unit. The projects represent a total investment of approximately $10 billion.
The company, with the support of the Iraqi authorities, will invest in installations to recover gas that is being flared on three oil fields.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.