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FINANCIAL NEWS
Qatar buys into Royal Dutch Shell
12 May 2012
(MENAFN) Qatar Investment Authority injected cash in Royal Dutch Shell, and is also negotiating a stake in Italy’s ENI, Middle East Economic Survey reported.
The oil and gas giant welcomed the move from Qatar’s sovereign wealth fund to invest in the company, according to Shell’s London spokesperson Ross Whittam.
Hell confirmed the buyout reports, but did not say how big the stake was although it is reportedly between 3-5 percent.
Qtar’s move comes just weeks after it Qatar’s increased its shareholding French Total, Europe’s third-largest oil company, to three percent.
Total CEO Christophe de Margerie, said that the company and Qatar were planning to invest in joint projects in West Africa.
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