RIYADH: Qatar has entered into a significant agreement to supply Shell in Singapore with up to 18 million barrels of oil annually for a period of five years, marking the Gulf state’s inaugural five-year crude sales deal.
QatarEnergy announced its accord with Shell International Eastern Trading Co. to provide a yearly supply of up to 18 million barrels, comprising Qatar Land and Qatar Marine crude oils, starting from January.
“We are delighted to sign our first-ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell, which is not only a reliable crude oil off-taker, but also a major customer and a strategic partner of QatarEnergy,” said Saad Sherida Al-Kaabi, the minister of state for energy affairs and president and CEO of QatarEnergy.
The agreement underscores QatarEnergy’s strategic approach to fostering longer-term business relationships and cooperation.
QatarEnergy and Shell maintain a longstanding strategic partnership, collaborating on various shared investments in the energy sector in Qatar and globally, including QatarEnergy LNG projects, the Pearl GTL Plant, and several other joint ventures.
