Shell wins Iraq oil contract

Royal Dutch Shell today won a contract in an historic auction to develop a major Iraqi oil field.

The Anglo-Dutch company, in partnership with Malaysia’s state-run Petronas Carigali, beat a consortium of France’s Total and China National Petroleum Corp (CNPC), to develop Manjoon, a 12.88 billion barrel site in the Basra region. The oil field is one of the largest in the world.