logo

FX.co ★ Shell sells stake in Iraqi oil field

Shell sells stake in Iraqi oil field

Shell sells stake in Iraqi oil field

Royal Dutch Shell sold its stake in Iraq’s West Qurna-1 oil field to Japan’s Itochu Corporation.


The amount of the deal was not revealed but it is known that the move comes as the latest step in a gradual retreat of the Anglo-Dutch company from the Middle East.


See also: You can open a trading account here

The company is also expected to quit Iraq’s Majnoon oil field in 2018. At the same time, it is seen to retain its natural-gas interests in the country.


Shell produced 450,000 barrels of oil per day in the region in 2003. Over the past 15 years, it produced thousands of barrels of oil per day across six countries in the region.


As soon as Shell officially leaves Iraq at the end of this year, it will have oil assets in Oman that make about 220,000 barrels per day.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account