First Alaska now Iraq, Shell facing more delays
After announcing delays to its offshore exploration programme in Alaska on Monday, reports on Tuesday suggest Royal Dutch Shell is also struggling with production targets in Iraq.
After announcing delays to its offshore exploration programme in Alaska on Monday, reports on Tuesday suggest Royal Dutch Shell is also struggling with production targets in Iraq.
Mark Carne, an executive at Shell Upstream International is quoted as saying the company could miss its target of 175,000 barrels of oil per day at the Majnoon field in the south of the country.
Shell is waiting for construction of a new pipeline by the Iraqi government to move the crude oil it produces at Majnoon to storage sites. That construction project has been hit by delays, meaning Shell may be forced to claw back costs.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm's share price was down 0.44% at 10:18.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?
If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about