Royal Dutch Shell announced on January 15 a final investment decision on the redevelopment of the Penguins oil and gas field in the UK North Sea. Meanwhile,

Reuters has reported that Iraq has approved the sale by Shell of the company’s 20% stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu Corp.

Shell said in a press release that the decision on January 15 to redevelop the North Sea field authorises the construction of a floating production, storage and offloading (FPSO) vessel, the f...