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Iraq Seeks to Expand in Gas Investment, Renewable Energy Production

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files
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Iraq Seeks to Expand in Gas Investment, Renewable Energy Production

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files

Iraq’s Oil Minister Ihsan Abdul Jabbar announced Saturday that Iraq would rely on green energy to invest in gas and produce renewable energy.

During his participation at a workshop organized by the International Energy Organization (IEA), the Minister stressed the government and ministry’s keenness on supporting clean energy projects.

This support is represented by implementing prime projects in associated gas investment, reducing oil hydrocarbon emissions and increasing projects of electricity production via alternative energy.

Abdul Jabbar stated that Iraq has taken practical steps to guarantee a gradual shift towards green and renewable energy.

Iraq adopted a clear strategy by contracting with international companies specialized in this field in Basra, Maysan and Dhi Qar, he noted, adding that Iraq established the Basra Gas Company.

The Iraqi minister went on saying that the country signed an agreement with Total. This agreement consists of a series of investment projects in associated gas.

The ministry is meanwhile carrying out other projects. The investment of up to 2,600 million standard cubic feet daily also falls under the Ministry of Oil plans to invest in associated gas from the southern provinces’ fields.

Another key interest of Iraq is to add 12 kilowatts to the national electricity system through the use of alternative energy, the minister continued.

This would be accomplished by contracting with leading international firms operating in this sector and seeking to switch to the use of gas instead of heavy fuels.

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French Minister: EU Still Far from Tariff Deal with US

French economy minister Eric Lombard (center) says the European Union and the United States were still far from a tariffs deal. Jim WATSON / AFP
French economy minister Eric Lombard (center) says the European Union and the United States were still far from a tariffs deal. Jim WATSON / AFP
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French Minister: EU Still Far from Tariff Deal with US

French economy minister Eric Lombard (center) says the European Union and the United States were still far from a tariffs deal. Jim WATSON / AFP
French economy minister Eric Lombard (center) says the European Union and the United States were still far from a tariffs deal. Jim WATSON / AFP

The European Union and United States are far from reaching a deal on tariffs, France's economy minister said Thursday, as the bloc seeks a way out from trade tensions with Washington.

US President Donald Trump has slapped new 10 percent tariffs on most trading partners since returning to the White House in January, and imposed sharp levies on imports of steel, aluminum and autos, AFP reported.

The EU has not been spared, and a 90-day pause on even higher rates, including for goods from the bloc, is due to expire in early July.

"We're not going to hide the fact that we're still a long way from an agreement," said French economy minister Eric Lombard in an interview with journalists on the sidelines of the International Monetary Fund and World Bank's spring meetings in Washington.

But at an IMF event Thursday, German Finance Minister Joerg Kukies said he was hopeful both sides could reach a deal before the 90-day window closed.

"We're optimistic that it will work, the sooner, the better," he said.

France's Lombard maintained that talks with US officials were warm.

He said he met this week with director of the White House National Economic Council Kevin Hassett, US Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.

Lombard noted a desire from his counterparts to "move forward as quickly as possible," adding that Europeans have been described as friends and allies in the context of these talks.

He said both sides are looking for areas where they can make progress, adding that "workstreams" have been opened up to remove obstacles to exchanges.

Adding that Trump's new tariffs weigh on the US economy, Lombard said he hopes these effects "will push the administration to propose adjustments."

"We want tariffs to return to previous levels, and even lower if possible," he said, adding that he expects "ups and downs" in negotiations.

Earlier this year, Trump accused the 27-nation bloc of being created to "screw" the United States.

The White House has also said Trump's "reciprocal tariffs" were focused on countries that had been "ripping off" the world's biggest economy.