Shell to hand over Iraqi oilfield, officials say

By REUTERS
November 8, 2017 12:33
Breaking news

Breaking news. (photo credit: JPOST STAFF)

BASRA, Iraq - Oil major Royal Dutch Shell agreed to exit the Majnoon oilfield and hand over its operation to the state-run Basra Oil Co. by the end of June 2018, two oil officials close to the deal said on Wednesday.

A letter signed by Iraqi oil minister Jabar Luaibi, dated Aug. 23 and seen by Reuters, gave approval for the Anglo-Dutch company to quit Majnoon, a major oilfield near Basra which started production in 2014. 


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