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Shell to Sell Stake in Iraq West Qurna to Itochu Corporation

* SHELL EP MIDDLE EAST AGREED TO SELL ENTIRE SHARE CAPITAL OF SHELL IRAQ B.V FOR $406 MILLION, TO A SUBSIDIARY OF ITOCHU CORPORATION.

* SHELL TO SELL ITS STAKE IN IRAQ’S WEST QURNA 1 OIL FIELD TO ITOCHU CORPORATION

* SHELL EP MIDDLE EAST AGREED TO SELL ENTIRE SHARE CAPITAL OF SHELL IRAQ B.V FOR $406 MILLION, TO A SUBSIDIARY OF ITOCHU CORPORATION.

* PURCHASER WILL ALSO ASSUME DEBT OF $144 MILLION AS PART OF THE TRANSACTION

* SALE HAS RECEIVED THE NECESSARY REGULATORY CONSENT, IS EXPECTED TO COMPLETE IN THE NEXT FEW DAYS, AND HAS AN EFFECTIVE DATE OF 31 Source: Reuters

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