Shell is looking to offload its stakes in Iraq’s key Majnoon and West Qurna-1 oilfields. This comes after Occidental’s decision to quit the country, whilst Total says the low margins on offer have kept it away.
Iraq’s Oil Ministry received a blow this week with reports that Shell is looking to offload its substantial Iraqi oil assets as part of its post-BG acquisition streamlining. The Anglo-Dutch major is looking to sell its 45% operating stake in the 220,000 b/d Majnoon field and its approximately 15% stake in ExxonMobil-operated 450,000 b/d West Qurna-1. (CONTINUED - 1461 WORDS)