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QPI pays $1bn for 23% stake in Brazil oil project

: Thursday, January 30 - 2014 @ 08:55

Qatar Petroleum International (QPI) has acquired a stake held by Royal Dutch Shell in a Brazilian oil project for $1bn, Reuters has reported. Shell said it was selling 23% of the Parque das Conchas, or BC-10 project off the coast of Brazil, leaving it with a 50% interest. It will continue to operate the 50,000 barrels of oil per day project.

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Thursday, January 30- 2014 @ 8:55 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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