Shell seeks lower production targets for Majnoon

Royal Dutch Shell, Europe’s biggest oil firm, wants to slash budgeted crude output at its Majnoon oil field, saying that production forecasts may be unviable. Shell’s oil investment in Majnoon is estimated to reach $50 billion spread over a 20-year period. The targeted cuts would slash original forecasts by 0.8 million barrels to 1 million barrels per day – more than 40 percent of initial...
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