Edition:
India

Shell To Sell Stake In Iraq's West Qurna 1 Oil Field To Itochu Corp


Friday, 23 Mar 2018 

March 23 (Reuters) - Royal Dutch Shell Plc ::SHELL TO SELL ITS STAKE IN IRAQ’S WEST QURNA 1 OIL FIELD TO ITOCHU CORPORATION.SHELL EP MIDDLE EAST AGREED TO SELL ENTIRE SHARE CAPITAL OF SHELL IRAQ B.V FOR $406 MILLION, TO A SUBSIDIARY OF ITOCHU CORPORATION..PURCHASER WILL ALSO ASSUME DEBT OF $144 MILLION AS PART OF THE TRANSACTION.SALE HAS RECEIVED THE NECESSARY REGULATORY CONSENT, IS EXPECTED TO COMPLETE IN THE NEXT FEW DAYS, AND HAS AN EFFECTIVE DATE OF 31 DECEMBER 2015..