Royal Dutch Shell announced this month that it is trying to sell its stake in the Majnoon oilfield in southern Iraq, following a failure to reach agreement with Iraq’s Ministry of Oil.
A Shell spokesman told UAE-based newspaper The National:
“Following extensive discussions with the Ministry of Oil, the oil minister of Iraq formally endorsed a recent Shell proposal to pursue an amicable and mutually acceptable release of the Shell interest in Majnoon, with the timeline to be agreed in due course.”
In the short analysis to follow, I review Shell’s situation in Iraq and try to recognize the key reason for the exit.
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