REUTERS STAFF: JANUARY 15, 2018 / 2:19 PM /
DUBAI (Reuters) – Royal Dutch Shell has agreed to sell its stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu, a Shell spokesman said on Monday.
“Itochu and Shell have reached agreement on the sale of Shell’s interest in the West Qurna 1 oilfield and are now working to secure all the necessary approvals from the government of Iraq,” the spokesman said. “Details of the discussions are commercially confidential.”
Iraq has approved the sale by Shell of its 20 percent stake in the West Qurna 1 oilfield to Itochu, a senior Iraqi oil official told Reuters last week.
KYODO, STAFF REPORT: 
In Japan’s carefully-choreographed, corporate world, public power struggles are generally frowned upon. Shosuke Idemitsu, 89, apparently doesn’t roll that way.
According to a report in the Nikkei business daily Royal Dutch Shell will likely exit the oil-refining and sales business in Japan.
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