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Qatar to supply crude oil to Shell in five-year deal

Business Doha 30 Dec 23
Qatar to supply crude oil to Shell in five-year deal
QatarEnergy signs five-year crude supply agreement with Shell
Event Location
Qatar, Qatar
Start Time
30 December 2023, 12:00 AM
End Time
31 January 2024, 12:00 AM

Qatar has agreed to supply Shell in Singapore with up to 18 million barrels of oil a year for five years in what the Gulf state's energy company said was its first ever five-year crude sales deal.

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.

Minister of State for Energy Affairs, and President and CEO of QatarEnergy HE Eng Saad bin Sherida Al Kaabi said: "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. We look forward to building on our historic relationship and hope we achieve greater success with Shell."

The agreement highlights QatarEnergy's strategy in establishing longer-term strategic business relationships and cooperation.

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.

QatarEnergy agreement Shell

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