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Shell says to focus on Basra gas in Iraq after Majnoon exit

Reuters  |  LONDON 

LONDON (Reuters) - Oil major Royal Dutch/Shell said on Wednesday it would focus its efforts on the development and growth of the Basra Gas Company in Iraq after handing over operations of the Majnoon oil venture back to the Iraqi government.On Tuesday, Reuters reported that Shell Iraq has started preparations to finalise the exit of Shell from Majnoon, one of the largest fields in the country."In May 2017, the ministry of oil in Iraq applied the performance penalty and remuneration factor on the Shell operated venture, the Majnoon oil field, which had a significant impact on its ...

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First Published: Wed, September 13 2017. 15:01 IST
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