Shell Looks To Exit Iraq’s Majnoon Oil Field

Shell has decided to sell its interest in Iraq’s Majnoon oil field after the oil major and Iraq failed to agree on future production plans and investments budgets, Reuters reported on Wednesday, citing a letter of Iraq’s oil ministry to Shell that it had seen. “We respect your desire and decision to seek an acceptable end of Shell Iraq Petroleum Development SIPD’s interest in Majnoon,” reads the oil ministry’s letter that is dated August 23 and signed by Oil Minister Jabbar Al-Luiebi.   Three local oil officials…

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