Royal Dutch Shell RDS.B 1.35% PLC is giving up on its last oil fields in Iraq, leaving the world’s second-biggest oil company with a dwindling footprint in the Middle East—a region it helped build into a petroleum powerhouse. Shell said Monday it is selling for an undisclosed amount a stake in the West Qurna 1 oil field in Iraq to Japan’s Itochu Corp. ITOCY 0.77% , the latest step in a gradual retreat from the region. The company is also expected to give up its holding in Iraq’s Majnoon oil field later this year, though it will retain its natural-gas interests in the country. Shell’s departure from Iraqi oil assets marks one of the final chapters in a slow pullback from the Middle East’s vast fields of petroleum. Shell pumped as much as 450,000 barrels of oil in […]