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Oracle shares up 35%

Huge AI contracts lead to the surge.

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EGA H1 revenue $4.11bn

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QatarEnergy, Shell sign agreement

Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia.
By Hilal Mir
December 28, 2023 8:10 pm
  • QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.
  • "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy

Doha, Qatar — QatarEnergy announced Thursday a five-year crude oil supply agreement with Shell International Eastern Trading Company, Singapore (Shell).

The agreement stipulates the supply of up to 18 million barrels per annum of Qatar Land and Qatar Marine crude oils to Shell starting January 2024, QNA reported.

Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, said: “We are delighted to sign our first ever five-year crude sales agreement. This agreement further strengthens QatarEnergys relationship with Shell, which is not only a reliable crude oil off-taker, but also a major customer and a strategic partner of QatarEnergy. We look forward to building on our historic relationship and hope we achieve greater success with Shell.”

QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint investments.

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