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Qatar looks to buy stakes in oil giants Shell, Eni

May 15/2012

(hydrocarbonprocessing) -- Qatar's sovereign wealth fund, continuing its recent splurge on overseas assets, is eyeing stakes in Anglo-Dutch energy group Royal Dutch Shell and Italy's Eni. Qatar is in "very advanced talks" to buy 3-5% of Shell, a major investor in Qatar, and a 3% stake in Italian oil giant Eni.

Qatar's sovereign wealth fund, continuing its recent splurge on overseas assets, is eyeing stakes in Anglo-Dutch energy group Royal Dutch Shell and Italy's Eni, the Middle East Economic Survey reported Friday.

A spokeswoman for Shell confirmed Qatar was a shareholder but didn't say when the Gulf state acquired the stake or how large it was.

"We are delighted to welcome the Qatar Investment Authority as a long-term and major shareholder in Shell, and particularly given our excellent strategic relationship with the Qatari state," the spokeswoman said in an emailed statement.

Qatar is in "very advanced talks" to buy 3-5% of Shell, a major investor in Qatar, and is also negotiating taking a 3% stake in Italian oil giant Eni.


mrcplast.com
Author:Anna Larionova
Tags:Qatar Petrochemical, Shell.
Category:General News
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