news
From the Field

Shell exits Iraqi field
BASRA, June 27, 2018 – Iraqi NOC Basra Oil has taken over the Majnoon field from Shell, international media reported on Wednesday.
“The handing over process was smooth and without any issues,” an anonymous Iraqi official told Reuters.
Shell announced that it would exit the oilfield, Iraq’s third-largest, in September 2017 following financial disagreements with the Baghdad government. Chevron was in talks to buy Shell’s 45% stake there, according to media reports in February 2018. In more recent statements, Iraqi officials said that they haven’t given up on bringing the super-major on board in the future.
In April 2018, Basra Oil signed a two-year deal with Petrofac and Anton Oilfield Services to operate Majnoon.
The remaining partners in the development are Petronas (30%) and state-owned Missan Oil Company (25%).
Oil down, investors look to OPEC+ for stance
From the fieldOil boosted by Fed reassurance of low rates
From the fieldRepublic of Congo building $600-million refinery
From the field
Latest news and features
Most popular
Qatar hands $13-bln LNG deal to Chiyoda-Technip JV
From the fieldNew growth in Angolan logistics
INTERVIEWA strategic shipyard for Angola
INTERVIEWUganda refinery to see FID in February 2022
From the field