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Article: Qatar : Qatar partners Shell.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
THE Gulf state of Qatar has made what is thought to be its first major oil-related strategic investment in Singapore by partnering Shell Eastern Petroleum.
Under the deal, Shell will sell its existing shareholdings in two companies to a new joint venture called QPI and Shell Petrochemicals (Singapore). The deal does not involve any immediate plans for new plants.
It is the first overseas acquisition in the petrochemicals industry by state-owned Qatar Petroleum International (QPI).
Qatar's Energy Minister Abdullah Hamad al-Attiyah said: 'Qatar is a significant and fast-growing producer of chemical feedstocks. Extending ...