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Shell set to draw line under a century of Iraqi oil

Reuters  |  LONDON 

By Ron BoussoLONDON (Reuters) - Royal Dutch Shell is set to end a century of oil production in Iraq by withdrawing from two of the Arab state's flagship fields to focus on more profitable gas development.Shell's retreat highlights the challenges foreign operators face with low-margin oil contracts in Iraq, an OPEC member that sits on some of the world's biggest oil reserves and wants to boost production after years of conflict hindered development.The Anglo-Dutch firm said on Wednesday it had agreed with Iraq's oil ministry to relinquish operations at Majnoon field to the government after ...

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First Published: Wed, September 13 2017. 18:22 IST
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