Shell, Qatar scrap $6.4bn petrochemical project

Shell and Qatar Petroleum said they have decided not to proceed with their $6.4 billion (£4.2bn) petrochemical project in the Gulf state. The companies formed a partnership for the Al Karaana project in 2011 and planned to operate it as a joint venture, with the Qatari firm owning 80% and Shell the remaining 20%. However, […]

Shell sells Brazilian oil field stake for $1bn

Shell is to sell a 23% interest in an oil field offshore Brazil for $1 billion (£0.6bn). Qatar Petroleum International, the global arm of Qatar Petroleum, which is the world’s largest liquefied natural gas exporter, is buying the stake in the Parque das Conchas (BC-10). Shell will continue to operate it with a 50% interest. […]