Shell’s Iraq Gas Project Inches Forward; First Majnoon Cargo Lifted

Shell has lifted its first cargo of oil from the Majnoon oilfield that it operates in southern Iraq, calling it a milestone, cashing in on the troubled project that kicked off late last year after months of delay. At the same time, the Basrah Gas Company (BGC) in which Shell has a major stake has awarded a significant contract that will help cut down on wasteful flaring that has risen to record levels.

In a 7...